Mr. Ronan Lupton:

Not really. A company can be prosecuted and convicted before the courts, which would give rise to issues regarding licence applications and various other things. That is obviously a significant issue. However, the fining power set out in the communications legislation is out of date and anachronistic. We need better sanctions and an upgrade of the current legislative regime or structure. Moving forward, civil sanctions can provide quick wins. While I hate using a simple expression like that, the reality is that it is an incentive to behave. It is not just Eir, but everybody. It will be across the board. We have to be careful how we ask for it, in case we get something we do not like, but that is where we are on that. I highlight that Fianna Fáil Private Members' Bill because it is not too far away from what we foresee as a route to facilitating ComReg.

I pick up on the issue of the 300,000 premises, which Mr. Liam O'Brien may deal with also. As a lawyer, which is the other hat I wear aside from being chairperson of ALTO, I note that the State had no choice in respect of facilitating the transfer or deal around the 300,000. There was no issue in respect of that because it was commercially viable for Eircom to apply to carve out those homes. That is just the way it is and we can say no more than that as it would be unfair to do so. That is the position we are in. I will hand over to Mr. O'Brien to speak from an investment point of view.