Thank you very much, Mrs. Fraser, for your excellent comments, as usual.
I'm now going to call upon Admiral Pile for his opening remarks.
Mr. Pile, I know you've tabled a fairly lengthy report. Obviously, you've put a lot of time and effort into it, and I want to thank you for that. However, we do have a rule that we normally adhere to. We'd like to keep the opening comments to within five minutes. So I'd like you to paraphrase your report, if possible. We can attach it to the minutes, if you wish. There's no problem doing that. There's no way you can read this in five minutes, so I'd like you to keep your opening remarks to five minutes or less.
Thank you.