Ms Fiona O'Dea:

I may take the first question with regard to the threshold and section 608. This section provides that assets that are transferred before liquidation with fraudulent effect can be recovered. It does not hinge on intent but rather the effect. There is a significant difference between the intent and the effect and effect obviously has a lower evidentiary burden of proof. The CLRG looked at various judgments around the issue of thresholds in respect of that section. In its report, it states that it really is about the effect of depriving the creditors of something to which they were entitled. It mentioned another judgment.

What came out of that judgment was a requirement for an additional ingredient of impropriety. When the CLRG looked at section 608, it was happy with the usefulness of the provision but was concerned about the way case law was moving and that there might be a concern with the issue of payments. It wanted to clarify that payments related to payments made in the ordinary course of business, including payments made to employees. That is why this amendment is being made. I will ask my colleague to answer the other questions.