Banking (Special Provisions) Bill

I do not know on what basis the hon. Gentleman can make that claim. The board's position last September was rather more stark. It had reached a situation where it could not continue because it could not raise the billions of pounds that it needed in order to continue trading. That is why the board came to the Bank of England for lender of last resort support. That was in the forefront of its minds. The then board would have taken legal advice as to what it ought to do and what its options were. That is a matter for the board, but as I have said on many occasions, by the end the company did not have much choice because it was so exposed. When the difficulties arose in the financial market, the board had little alternative but to come to the Bank.