Seán Fleming (Laois, Fianna Fail)
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If I am not 100% right, Mr. McCarthy can correct me down the line. The principle of what I am saying is as follows: the idea of setting up an organisation called the NAMA Group was developed in the Department of Finance. The NAMA Group has a shareholding of €100 million. Some 51% of it is owned by the private sector. One of the insurance companies - Irish Life - owned some of the 51%, but it had to divest some of that. As it happens, quite a lot of the 51% is now owned by trustees on behalf of various Church of Ireland pension funds. The State owns 49% of the shareholding. The State's shareholding gives it some power. The 51% cannot make any decision without the 49%.