Mr. Martin Blake:

We came across this most visibly in the context of the Comptroller and Auditor General's report. That was the first time it became visible to us that this swap had actually taken place with a loss of money. Our view was that as a disposal and acquisition, it should have been notified in the Department. Having talked through the matter with HRI, it now acknowledges that this should have happened. We have recently engaged with it and written to it on that basis. Moving forward, we would expect that. As Ms Eade said, swaps were not specifically covered but it is an acquisition and disposal.