Mr. Darragh O'Loughlin:

Any regulator would say that it would like to have a bigger budget, but we are managing. We have agreed an annual budget with HRI and are operating within the agreed funding parameters. We meet HRI at least every three months to review our management accounts for that period and to preview spending for the upcoming period. We operate on the basis that there should be no surprises. We like HRI to know where we are financially. If we are anticipating any particular expense, for example, a large legal expense or a capital expense, we always flag that with HRI well in advance.