Part (d) asked candidates to discuss whether a share buy-back or a special dividend was the more appropriate as a form of repatriation. Some reasonable answers were provided for this small part. The main areas of weakness were that some candidates thought that only one of these methods would provide instant cash to the shareholders or that the requirement was not to compare the two methods with each other, but to discuss the importance of returning cash to shareholders. Candidates should only answer the question set and recognise that other forms of discussion will get no credit.