Well, Mr Thorley did seek board approval and also wrote to the then-Minister for the economy before taking up his paid role as the chair of Zip World. Perhaps the First Minister could confirm whether Mr Thorley's personal investment in Zip World was also subject to prior board approval, as has been reported in the press.

Now, if it was, and the reason that I raise this—. Well, the question is clear, isn't it? Why was the same principle not applied to his investment in the Cardiff-based start-up Love to Visit? Can I ask you a fairly basic point of principle, First Minister, if it is stipulated that Mr Thorley, who is already among the highest paid employees of any publicly funded body in Wales, should not invest in companies using knowledge or networks he has acquired through his work at the development bank? Wouldn't you agree with me that it's not an assessment that Mr Thorley should be able to make, effectively as judge and jury in his own case?