Mr. Andrew Lowe:

We are not suggesting that we have nothing to do with the DACs. As I said in my opening statement, we incorporate a DAC to shoot the film or television series and all the financing and production expenditure goes through that DAC. The DAC offers employment to freelance crew for a fixed period because that is all it is required to do. Eight weeks are required to shoot a film or six months to shoot a television series and we plan accordingly as to how many people we are going to need and for how long. We raise the finance to pay for all those people and once that show is done and we have delivered on what we said we would do, there is no money left and no crew left. It is finished and completed insofar as it goes. That is not to say the project is finished and completed and that we, as producers, do not have an ongoing responsibility to administer the project in all its guises, including any employee-related queries that may be specific to the DAC but which we are happy to deal with, which we do. Nothing I have just said is inconsistent with saying Element Pictures does not directly employ production crew, because we do not. The DACs employ the production crew. That is a fact. That is why DACs exist. As it says on the tin, they are designated activity companies and are there for a specific purpose.