I want to thank you for your attendance this morning. This meeting was called at very short notice—in fact we did not have an opportunity of sending out a notice of the meeting. However, I thought it well that we should meet this morning and finish our agenda particularly in view of the fact that the Dáil is meeting next week and everybody will be very busy.
We had a very useful and informative meeting yesterday which the Minister for Foreign Affairs attended and we had a very far-reaching discussion on the whole question of EC regional policy. I think Members are much better informed now on the present situation than they were before, but we still have these three draft regulations dealing with regional policy before us and I hoped that this morning we might consider them in more detail and that we could come to whatever conclusions we deem appropriate about them. With your permission I propose to take them in order. There are three of them, one dealing with the establishment of the fund, the second dealing with the establishment of the Committee on Regional Policy and the third is in the nature of a technical financial regulation governing the establishment and operation of the fund as such. Perhaps we could begin by taking what I suppose is the main one dealing with the establishment of the fund.