Derek McDowell (Labour)

The Leas-Chathaoirleach is racing ahead of me. I made this point on Second Stage but we did not have time to tease it out. The directive applies only to public offerings of €2.5 million or more. I am no expert on these matters but I would be interested to know how often we would have offerings of this kind. I suspect we would not have more than a few a year. This would appear to exclude from the scope of the directive most cases where shares are sold to the public. Has the Minister given any thought, for example, to the possibility of lowering the limit so as to provide some protection to people who subscribe in circumstances where the offering is less than €2.5 million?