The Irish Horseracing Authority, with its 16 person board, has done an excellent job since its establishment in 1994. It is nonetheless considered that a smaller board could operate its board business more efficiently and all the main industry interests agree that this would be desirable. The composition of the board of Horse Racing Ireland as set out in the memorandum of understanding agreed with the Turf Club-INHSC was arrived at after much consideration and wide consultation in the industry and reflects fair representation on the board for all the major sectors in the industry which depend on the industry for their livelihoods. Many other parties including the racegoers sought representation on the board. It was not possible, in the smaller board of 13 which was considered optimum, to accommodate all those parties.