Mr. Seamus McCarthy:

We looked at whether section 172 declarations had been made and, in general, they were in place. In the sample we looked at in the section 226 report approximately four out of 80 were missing or not able to be produced. In general, the declarations were made. We drew attention to the fact that there was no verification process thereafter. NAMA has outlined some of the constraints and practicalities that apply. I expect the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 tol be applied throughout the European Union such that in any European jurisdiction there will be the ability to find who is the beneficial owner.