State Airports (Shannon Group) Act 2014

State Airports (Shannon Group) Act 2014 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.ie) Translations (Houses of the Oireachtas) Government Publications for Sale EU Law (EUR-Lex) FAQ Disclaimer Feedback Helpdesk Search Baile Reachtaíocht Achtanna an Oireachtais Ionstraimí Reachtúla Reachtaíocht Réamh-1922 Bunreacht Acmhainní Seachtracha Billí (Tithe an Oireachtais) Iris Oifigiúil Achtanna Athbhreithnithe (CAD) (An Coimisiún um Athchóiriú an Dlí) Liosta Rangaithe Reachtaíochta Aistriúcháin (achtanna.ie) Aistriúcháin (Tithe an Oireachtais) Foilseacháin Rialtais ar Díol Dlí AE (EUR-Lex) CCanna (Ceisteanna Coitianta) Séanadh Aiseolas Deasc chabhrach Cuardach TitleTeideal Year(s) or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 2014 State Airports (Shannon Group) Act 2014 State Airports (Shannon Group) Act 2014 Permanent Page URL View by SectionAmharc de réir Ailt View Full ActAmharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Open PDFOscail PDF Print Full ActPriontáil an tAcht Iomlán Number 27 of 2014 STATE AIRPORTS (SHANNON GROUP) ACT 2014 CONTENTS PART 1 Preliminary and General Section 1. Short title and collective citation 2. Definitions 3. Expenses 4. Laying of orders 5. Repeals PART 2 Shannon Group 6. Formation of Shannon Group Company 7. Share capital of Shannon Group 8. Obligation to hold shares in trust 9. Payment of dividends, etc. into Exchequer 10. Purposes, functions and general duties of Shannon Group 11. Powers of Shannon Group 12. Conferral of additional functions on Shannon Group 13. Borrowing by Shannon Group 14. Formation of subsidiaries PART 3 Administration of Shannon Group 15. Memorandum and Articles of Association 16. Board of Shannon Group 17. Chairperson of Board of Shannon Group 18. Staff 19. Chief Executive 20. Chairperson and directors of subsidiaries 21. Accounts and audits 22. Chairperson’s report 23. Superannuation schemes - Shannon Group 24. Membership of Houses of Oireachtas or European Parliament 25. Disclosure by directors of certain interests 26. Disclosure by members of staff of certain interests 27. Giving of directions and issuing of guidelines by Minister to Shannon Group PART 4 Transfer of Shares to Shannon Group 28. Shannon Airport transfer day and Shannon Commercial Enterprises transfer day 29. Cessation of membership of boards of Shannon Airport Authority and Shannon Development 30. Shannon Airport Authority Limited PART 5 Restructuring of Airport Companies 31. Cork Airport Authority 32. Re-naming Dublin Airport Authority as daa 33. Consequential amendments relating to preceding sections 34. Amendment to superannuation schemes PART 6 Shannon Commercial Enterprises 35. Re-naming Shannon Free Airport Development Company Limited as Shannon Commercial Enterprises Limited 36. Shannon Commercial Enterprises liable to tax on income 37. Amendment of certain enactments 38. Transfer of land 39. Amendment of Customs-free Airport Act 1947 40. Transfer of equity holdings 41. Transfer of rights and obligations of Shannon Commercial Enterprises 42. Continuance of Shannon Development superannuation schemes 43. Commencement of Part 6 PART 7 Miscellaneous Amendments - Airports 44. Prohibition on dazzling aircraft 45. Airport bye-laws 46. Airport may make charges for vehicle parking and removal of immobilisation devices, etc. 47. Requirement to move unlawfully parked vehicles in certain circumstances 48. Powers of authorised officers at airport 49. Immunity of authorised officers and authorised persons 50. Authorised officers and authorised persons 51. Fixed payment notice and declarations 52. Directors of company and subsidiary of company PART 8 Article XI (Alternative A) of Protocol to the Convention on International Interests in Mobile Equipment (Cape Town Convention) - The Aircraft Equipment Protocol 53. Powers of Government to make order to give effect to Article XI (Alternative A) of Aircraft Protocol to Cape Town Convention PART 9 Amendment of Transport (Tour Operators and Travel Agents) Act 1982 and Package Holidays and Travel Trade Act 1995 54. Amendment of Transport (Tour Operators and Travel Agents) Act 1982 55. Amendment of Package Holidays and Travel Trade Act 1995 SCHEDULE 1 Enactments Repealed SCHEDULE 2 Shareholdings to be Transferred to Enterprise Ireland Acts Referred to Aer Lingus Act 2004 (No. 10) Air Navigation and Transport (Amendment) Act 1998 (No. 24) Air Navigation and Transport Act 1973 (No. 29) Air Navigation and Transport Act 1988 (No. 15) Airports and Aviation Acts 1936 to 2004 Aviation Regulation Act 2001 (No. 1) Capital Gains Tax Acts Companies (Amendment) Act 2009 (No. 20) Companies Act 1963 (No. 33) Companies Acts Comptroller and Auditor General (Amendment) Act 1993 (No. 8) Criminal Justice Act 1984 (No. 22) Criminal Justice Act 2006 (No. 26) Customs-free Airport Act 1947 (No. 5) Ethics in Public Office Act 1995 (No. 22) European Parliament Elections Act 1997 (No. 2) International Interests in Mobile Equipment (Cape Town Convention) Act 2005 (No. 15) Package Holidays and Travel Trade Act 1995 (No. 17) Pensions Act 1990 (No. 25) Planning and Development Act 2000 (No. 30) Residential Tenancies Act 2004 (No. 27) Road Traffic Act 1961 (No. 24) Shannon Free Airport Development Company Limited (Amendment) Act 1961 (No. 31) Shannon Free Airport Development Company Limited (Amendment) Act 1963 (No. 27) Shannon Free Airport Development Company Limited (Amendment) Act 1965 (No. 14) Shannon Free Airport Development Company Limited (Amendment) Act 1968 (No. 13) Shannon Free Airport Development Company Limited (Amendment) Act 1970 (No. 9) Shannon Free Airport Development Company Limited (Amendment) Act 1974 (No. 21) Shannon Free Airport Development Company Limited (Amendment) Act 1978 (No. 3) Shannon Free Airport Development Company Limited (Amendment) Act 1980 (No. 28) Shannon Free Airport Development Company Limited (Amendment) Act 1983 (No. 12) Shannon Free Airport Development Company Limited (Amendment) Act 1986 (No. 20) Shannon Free Airport Development Company Limited (Amendment) Act 1989 (No. 13) Shannon Free Airport Development Company Limited Act 1959 (No. 36) State Airports Act 2004 (No. 32) Taxes Consolidation Act 1997 (No. 39) Transport (Tour Operators and Travel Agents) Act 1982 (No. 3) Worker Participation (State Enterprises) Act 1977 (No. 6) Worker Participation (State Enterprises) Act 1988 (No. 13) Number 27 of 2014 STATE AIRPORTS (SHANNON GROUP) ACT 2014 An Act to provide for the establishment of a body known in the English language as Shannon Group, public limited company, or in the Irish language as Grúpa na Sionainne, cuideachta phoiblí theoranta, to define its functions, to provide for the transfer of shares held by the Minister for Public Expenditure and Reform in Shannon Airport Authority, public limited company and in Shannon Free Airport Development Company Limited to Shannon Group public limited company, to provide for the transfer of the ownership of lands held by the Minister for Transport, Tourism and Sport at the Shannon Customs-Free Airport to Shannon Commercial Enterprises, to enable the Government by order to give effect to Article XI (Alternative A) of the Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment that was opened for signature at Cape Town on 16 November 2001, to re-name the Dublin Airport Authority public limited company, to re-name Shannon Free Airport Development Company Limited, to provide for the dissolution and reestablishment of Cork Airport Authority public limited company, to amend the Airports and Aviation Acts 1936 to 2004 and the Customs-free Airport Act 1947, to provide for consequential amendments to certain other enactments, to amend the Transport (Tour Operators and Travel Agents) Act 1982 and the Package Holidays and Travel Trade Act 1995 and to provide for related matters. [27 th July, 2014] Be it enacted by the Oireachtas as follows: PART 1 Preliminary and General Short title and collective citation 1. (1) This Act may be cited as the State Airports (Shannon Group) Act 2014. (2) The Airports and Aviation Acts 1936 to 2004 and this Act (other than Parts 8 and 9) may be cited together as the Airports and Aviation Acts 1936 to 2014 and are to be read as one. Definitions 2. In this Act— “Act of 1998” means Air Navigation and Transport (Amendment) Act 1998 ; “Act of 2001” means Aviation Regulation Act 2001 ; “Act of 2004” means State Airports Act 2004 ; “airport” and “authorised officer” have the meanings assigned to them, respectively, in the Act of 1998; “chief executive” means chief executive of the Shannon Group appointed under section 19 ; “Cork Airport Authority” means Cork Airport Authority, public limited company; “Cork appointed day” means the day appointed under section 5(1)(a) of the Act of 2004 to be the appointed day in respect of Cork Airport Authority; “daa” means daa, public limited company; “Dublin Airport Authority” means Dublin Airport Authority, public limited company; “joint venture” means a contractual agreement joining together two or more parties for the purpose of executing a particular business undertaking; “material interest” shall be construed in accordance with section 2 (3) of the Ethics in Public Office Act 1995 ; “Minister” means Minister for Transport, Tourism and Sport; “recognised trade union or staff association” means a trade union or staff association recognised by Shannon Group, Shannon Airport Authority or Shannon Development and, after the Shannon Commercial Enterprises transfer day, Shannon Commercial Enterprises or a subsidiary of any of those bodies for the purposes of negotiations which are concerned with the remuneration or conditions of employment, or the working conditions of employees; “Shannon Airport” means the State airport known as Shannon Airport; “Shannon Airport Authority” means— (a) before the day of its re-registration under the Companies Acts as a private company limited by shares, Shannon Airport Authority, public limited company, and (b) on and from that day, Shannon Airport Authority Limited; “Shannon Airport transfer day” has the meaning assigned to it in section 28 (1); “Shannon Commercial Enterprises” means Shannon Commercial Enterprises Limited; “Shannon Commercial Enterprises transfer day” has the meaning assigned to it in section 28 (1); “Shannon Development” means Shannon Free Airport Development Company Limited; “Shannon Group” means Shannon Group, public limited company referred to in section 6 ; “Shannon Group formation day” means the day Shannon Group is formed and registered under the Companies Acts; “subsidiary”, other than in section 20 , has the same meaning as in section 155 of the Companies Act 1963 ; “superannuation benefit” means a pension, gratuity or other allowance payable on resignation or retirement. Expenses 3. The expenses incurred by the Minister in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Public Expenditure and Reform, be paid out of moneys provided by the Oireachtas. Laying of orders 4. Every order (other than an order made under section 28 or 38 ) made under this Act shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the order is passed by either such House within the next 21 days on which that House has sat after the order is laid before it, the order shall be annulled accordingly but without prejudice to the validity of anything previously done thereunder. Repeals 5. The enactments mentioned in Schedule 1 are repealed. PART 2 Shannon Group Formation of Shannon Group Company 6. (1) The Minister shall, after consultation with the Minister for Public Expenditure and Reform, as soon as may be after the passing of this Act, cause a public company limited by shares to be formed and registered under the Companies Acts. (2) The name of the public company referred to in subsection (1) shall be in the English language, Shannon Group, public limited company, or in the Irish language, Grúpa na Sionainne, cuideachta phoiblí theoranta. Share capital of Shannon Group 7. (1) The authorised share capital of Shannon Group shall be such amount as may be determined from time to time by the Minister for Public Expenditure and Reform, after consultation with the Minister, divided into shares of €1 each. (2) Shares in the share capital of the company shall not be issued without the consent of the Minister for Public Expenditure and Reform given after consultation with the Minister. (3) Shannon Group may, with the consent of the Minister for Public Expenditure and Reform given after consultation with the Minister, divide shares into different classes and attach to those classes any rights, privileges or conditions. (4) Shannon Group shall issue 38,100 shares to the Minister for Public Expenditure and Reform and may, from time to time thereafter, issue to the Minister for Public Expenditure and Reform such number of shares as may be agreed upon by the Minister and the Minister for Public Expenditure and Reform. (5) Shannon Group shall issue one share to each of the subscribers to the memorandum of association. Obligation to hold shares in trust 8. (1) A person to whom a share in the share capital of Shannon Group is issued under subsection (5) of section 7 shall— (a) hold that share in Shannon Group in trust for the Minister for Public Expenditure and Reform, and (b) transfer the share, as and when required by the Minister for Public Expenditure and Reform, to that Minister of the Government or to a person nominated in that behalf by that Minister of the Government, but shall not transfer or alienate his or her share in the share capital of Shannon Group other than in accordance with this subsection. (2) Where a member of Shannon Group dies, the share in the share capital of Shannon Group held by such member shall, without the necessity of a transfer, vest in the Minister for Public Expenditure and Reform. Payment of dividends, etc. into Exchequer 9. (1) Shannon Group may pay such dividends to the Minister for Public Expenditure and Reform as may be decided by the Board of Shannon Group. (2) All amounts representing dividends or other moneys received by the Minister for Public Expenditure and Reform in respect of shares held by him or her in the share capital of the company shall be paid into, or disposed of, for the benefit of the Exchequer in such manner as the Minister for Public Expenditure and Reform may direct. (3) All amounts representing dividends or other moneys received by a person in respect of a share held by him or her in the share capital of the company, issued to him or her under subsection (5) of section 7 , shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Public Expenditure and Reform may direct. Purposes, functions and general duties of Shannon Group 10. (1) The purposes of Shannon Group shall be— (a) to promote and facilitate air transport and aviation services in and around Shannon Airport, and (b) to optimise the return on its land and property and on its share-holding in any subsidiary company. (2) The principal functions of Shannon Group shall be— (a) to oversee the exercise by Shannon Airport Authority of its functions as set out in the Airports and Aviation Acts 1936 to 2014, (b) to oversee the exercise by Shannon Commercial Enterprises of its functions as set out in its memorandum and articles of association, (c) to promote the development of other business activities, including aviation related businesses, in the vicinity of Shannon Airport, (d) to manage and develop its assets and exploit commercial opportunities associated with its land and property and that of its subsidiaries, and (e) to utilise, manage and develop the resources available to it in conformity with the functions aforesaid. (3) It shall be the general duty of Shannon Group— (a) to conduct its affairs so as to ensure that the revenues of Shannon Group are sufficient taking one year with another to— (i) meet all charges which are properly chargeable to its revenue account and to provide adequately for future liabilities, (ii) generate a reasonable proportion of the capital it requires, (iii) remunerate its capital, and (iv) pay interest on and repay its borrowings, and (b) to conduct its business at all times in a cost-effective manner. (4) Shannon Group shall, as soon as is practicable after its formation and thereafter within 6 months before each fifth anniversary of the Shannon Group formation day, prepare and submit to the Minister, for approval by the Minister with or without amendment, a strategic plan for the next period of 5 years from that anniversary. (5) Nothing in this section or in the memorandum of association of Shannon Group shall be construed as imposing on Shannon Group, either directly or indirectly, any form of duty or liability enforceable by proceedings before any court to which it would not otherwise be subject. Powers of Shannon Group 11. (1) Shannon Group may, in consideration of the performance of its functions, make such charges as it considers appropriate, to its subsidiaries or any other person, other than the Minister, for services rendered by it and the carrying out by it of activities. Shannon Group shall record receipts from such charges as income. (2) The aggregate amount standing invested (whether by the purchase of shares, the provision of loans or guarantees of loans) by Shannon Group and its subsidiaries in undertakings (other than subsidiaries of Shannon Group) shall not exceed such amount as may be determined by the Minister from time to time with the approval of the Minister for Public Expenditure and Reform. Conferral of additional functions on Shannon Group 12. (1) The Minister may, with the consent of the Minister for Public Expenditure and Reform, confer on Shannon Group, by order, such additional functions connected with the functions for the time being of Shannon Group as he or she thinks necessary for the achievement of its purposes, subject to such conditions (if any) as may be specified in the order. (2) An order under this section may contain such incidental, supplemental and consequential provisions as may, in the opinion of the Minister, be necessary to give full effect to the order. Borrowing by Shannon Group 13. (1) Shannon Group or a subsidiary of Shannon Group may, with the approval of the Minister given with the consent of the Minister for Public Expenditure and Reform and the Minister for Finance, and upon such conditions as may be approved by the Minister for Public Expenditure and Reform with the consent of the Minister for Finance, raise or borrow money (including money in a currency other than the currency of the State) including, by means of the issue of debentures (or other debt security) or otherwise. (2) Shannon Group, or a subsidiary of Shannon Group, may borrow money temporarily (including money in a currency other than the currency of the State) but the aggregate at any one time of moneys borrowed under this subsection shall not exceed such amount as the Minister, with the consent of the Minister for Public Expenditure and Reform and the Minister for Finance, by direction specifies. (3) The aggregate of moneys standing borrowed under this section at any one time shall not exceed €100 million. (4) The Minister may, with the consent of the Minister for Public Expenditure and Reform and the Minister for Finance, having regard to the performance of Shannon Group in relation to its functions and its future investment plans, by order vary the amount specified in subsection (3) . Formation of subsidiaries 14. (1) Shannon Group may, with the consent of the Minister and the Minister for Public Expenditure and Reform, and subject to any conditions of either of them, either by itself or with other persons, promote, take part in the formation of, or acquire a shareholding in, a company (wherever incorporated) including a subsidiary. (2) The memorandum and articles of association of a subsidiary of Shannon Group shall be in such form as is in conformity with this Act and as may be approved of by Shannon Group. (3) A subsidiary of Shannon Group shall make such reports to Shannon Group as Shannon Group may require. (4) A subsidiary of Shannon Group may enter into joint ventures with other persons. (5) A subsidiary of Shannon Group shall not guarantee the borrowings or liabilities of any of its subsidiaries, without the approval of the Minister given with the consent of the Minister for Public Expenditure and Reform and the Minister for Finance. (6) Shannon Group may, with the consent of the Minister and the Minister for Public Expenditure and Reform, and subject to any conditions of either of those Ministers, wind up any of its subsidiaries. PART 3 Administration of Shannon Group Memorandum and Articles of Association 15. (1) In the formation of Shannon Group the Minister shall, with the consent of the Minister for Public Expenditure and Reform, draw up a memorandum and articles of association for Shannon Group and its principal objects shall be stated in its memorandum of association. (2) Shannon Commercial Enterprises shall alter its memorandum and articles of association for the purpose of making them conform to this Act. (3) Subsidiaries of Shannon Commercial Enterprises shall take such steps as may be necessary under the Companies Acts to alter their memoranda and articles of association for the purpose of making them conform to the provisions of this Act. (4) Shannon Airport Authority shall take such steps as may be necessary under the Companies Acts to alter its memorandum and articles of association for the purpose of making them conform to the provisions of this Act. (5) Notwithstanding anything contained in the Companies Acts, no alteration of the memorandum of association or the articles of association of Shannon Group, Shannon Airport Authority or Shannon Commercial Enterprises shall be valid or effectual unless made with the prior approval of the Minister given with the consent of the Minister for Public Expenditure and Reform. Board of Shannon Group 16. (1) The board of Shannon Group shall consist of not more than 10 directors. (2) The Minister may, with the consent of the Minister for Public Expenditure and Reform following consultation with such trade union representatives as he or she believes appropriate, appoint 2 persons representing the employees of Shannon Group and its subsidiaries, as directors of Shannon Group. (3) The chief executive shall, for the duration of his or her appointment, be ex officio a director of Shannon Group. (4) The directors of Shannon Group (other than the chief executive) shall be appointed by the Minister, with the consent of the Minister for Public Expenditure and Reform. (5) The first directors shall be appointed as soon as may be after the formation and registration of Shannon Group. (6) There shall be paid to the directors of Shannon Group such remuneration (if any) and such allowances for expenses incurred by them as the Minister, with the consent of the Minister for Public Expenditure and Reform, may from time to time determine. (7) Each director of Shannon Group shall hold office on such terms (other than the payment of remuneration and allowances for expenses) as the Minister determines at the time of his or her appointment. The Minister, when appointing a director of Shannon Group under subsection (2) or (4), shall fix such director’s period of office which shall not exceed 5 years. (8) A director of Shannon Group (other than the chief executive) shall not serve for more than a period of 10 years in total. (9) A director of Shannon Group shall be disqualified from being such a director where he or she— (a) is adjudicated bankrupt in the State or another jurisdiction, and if so adjudicated, has not obtained a certificate of discharge from the bankruptcy in that jurisdiction, (b) is convicted of an indictable offence in relation to a company (within the meaning of the Companies Acts), (c) is convicted of an offence involving fraud or dishonesty, (d) is disqualified or restricted from being a director of any company (within the meaning of the Companies Acts), or (e) has, in the opinion of the Minister, a conflict of interest that is of such importance that it requires him or her to cease to hold such office. (10) A director of Shannon Group may at any time resign his or her directorship by letter addressed to the Minister and the resignation shall take effect from the date specified therein or upon receipt of the letter by the Minister, whichever is the later. (11) A director of Shannon Group may at any time for stated reasons be removed from office by the Minister, with the consent of the Minister for Public Expenditure and Reform, if, in the Minister’s opinion, the member has become incapable through ill- health of performing his or her functions, or has committed stated misbehaviour, or his or her removal appears to the Minister to be necessary for the effective performance by the board of Shannon Group of the functions of Shannon Group. (12) If a director of Shannon Group dies, resigns, retires, becomes disqualified or is removed from office, the Minister may, with the consent of the Minister of Public Expenditure and Reform, appoint a person to be a director of Shannon Group to fill the casual vacancy so occasioned and the person so appointed shall be appointed in the same manner as the director of Shannon Group who occasioned the casual vacancy. (13) The Minister shall, in so far as is practicable and having regard to relevant experience, ensure an equitable balance between men and women in the composition of the board of Shannon Group. (14) Directors of Shannon Group may also be appointed to serve on one or more of the boards of the subsidiaries of Shannon Group, including on the boards of Shannon Commercial Enterprises and Shannon Airport Authority. Chairperson of Board of Shannon Group 17. (1) The chairperson of the board of Shannon Group (referred to in this Part as the “chairperson”) shall be appointed by the Minister, with the consent of the Minister for Public Expenditure and Reform. (2) The chairperson shall be appointed for a period not exceeding 5 years and, subject to subsection (8) of section 16 , shall be eligible for reappointment. (3) The chairperson may be removed from office at any time by the Minister with the consent of the Minister for Public Expenditure and Reform. (4) The chairperson shall hold office upon such terms and conditions as the Minister may, with the consent of the Minister for Public Expenditure and Reform, determine. Staff 18. (1) Shannon Group shall appoint such members of staff as Shannon Group thinks fit. (2) A member of staff of Shannon Group shall hold his or her office or employment on such terms and conditions as Shannon Group determines. (3) There shall be paid by Shannon Group to its members of staff such remuneration and allowances for expenses as the company thinks fit, subject to, in the case of its chief executive, subsection (5) of section 19 . (4) The transfer of ownership of Shannon Airport Authority or of Shannon Development to Shannon Group shall not operate to worsen the scales of pay and conditions of service applicable to the staff of those companies immediately before the Shannon Airport transfer day or the Shannon Commercial Enterprises transfer day, as the case may be, save in accordance with a collective agreement negotiated with any recognised trade union or staff association concerned. Chief Executive 19. (1) There shall be a chief executive of Shannon Group (who shall be known as and is referred to in this Part as the “chief executive”). (2) The chief executive shall be appointed by the board of Shannon Group and may be removed from office at any time for stated reasons by the board of Shannon Group, with the consent of the Minister. (3) The chief executive shall, on his or her appointment, stand appointed as chief executive of— (a) Shannon Airport Authority, and (b) Shannon Commercial Enterprises. (4) (a) Notwithstanding anything contained in this section, the person who holds office as the chief executive of Shannon Airport Authority, immediately before the formation of Shannon Group, shall be appointed by the board of Shannon Group as the first chief executive of Shannon Group, and as chief executive of Shannon Commercial Enterprises. (b) The person referred to in paragraph (a) shall serve as chief executive of Shannon Group, and as chief executive of Shannon Commercial Enterprises, for the remainder of his or her term as chief executive of Shannon Airport Authority. (5) The chief executive shall hold office for such term and upon and subject to such terms and conditions (including terms and conditions relating to remuneration and allowances for expenses) as may be determined by the board of Shannon Group with the consent of the Minister given with the approval of the Minister for Public Expenditure and Reform and shall be paid out of moneys at the disposal of Shannon Group. (6) Other than as provided for elsewhere in this Part, the chief executive shall not hold any other office or position in respect of which emoluments are payable without the consent of the board of Shannon Group. (7) If the chief executive is removed from office, he or she is deemed to be removed from the office of chief executive of Shannon Airport Authority and Shannon Commercial Enterprises at the same time. Chairperson and directors of subsidiaries 20. (1) The board of a subsidiary of Shannon Group shall consist of not more than 6 directors, including a chairperson. (2) Notwithstanding anything contained in the Companies Acts and subject to subsection (3), the directors or chairperson, or both, of any subsidiary of Shannon Group which the Minister in writing specifies, shall be appointed, and may be removed from office, by Shannon Group, with the prior written consent of the Minister. (3) Notwithstanding anything contained in the Companies Acts, the chairperson of the board of Shannon Group may, on his or her own nomination, and with the consent in writing of the Minister, be appointed as chairperson of the board of a subsidiary of Shannon Group and may be removed from office by the Minister. (4) For the purposes of this section, “subsidiary” means Shannon Airport Authority, Shannon Commercial Enterprises and its subsidiaries, and any other subsidiary formed or acquired under section 14 all of the issued shares in the share capital of which are held by, or on behalf of, Shannon Group. Accounts and audits 21. (1) Shannon Group shall keep all proper and usual accounts in accordance with the requirements of the Companies Acts. (2) Accounts kept in pursuance of subsection (1) shall be submitted annually by Shannon Group to an auditor for audit and, immediately after such audit, copies of the profit and loss account, the cash flow statement, the balance sheet, such other (if any) of the accounts kept by Shannon Group as the Minister may direct, the auditor’s report on the accounts and the report to the shareholders for the accounting year in question, shall be presented by Shannon Group to the Minister who shall cause copies thereof to be laid before each House of the Oireachtas. (3) Shannon Group shall, if so required by the Minister, furnish to the Minister, in such form, as may be approved of by the Minister, and for such period, such information as he or she may require, in respect of any balance sheet or other account or any report on its accounts of Shannon Group or any of its subsidiaries or in relation to the policy and operations (other than day-to-day operations) of Shannon Group or any of its subsidiaries. Chairperson’s report 22. (1) The chairperson shall, immediately after an audit referred to in section 21 (2), make a report in writing to the Minister of Shannon Group’s activities and those of any subsidiaries during that year. (2) A report under this section shall include— (a) a statement of all significant developments involving Shannon Group which occurred in that year (including the acquisition of shares or establishment of subsidiaries by Shannon Group), (b) a statement of Shannon Group’s borrowings, (c) a description of the matters the chairperson anticipates will arise in the accounting year next following that year (or, where the chairperson considers it appropriate in any particular case, any subsequent accounting year) which may affect Shannon Group to any significant extent, (d) a statement, to the best of the chairperson’s knowledge or belief, with regard to Shannon Group, as to whether— (i) each of the following has been complied with or adhered to, that is to say— (I) the requirements of this Act, or any other enactment, in relation to the accounts of Shannon Group and statements as to the financial affairs of Shannon Group, (II) section 25 , (III) directions under section 27 (1), (IV) the requirements of any enactment or instrument made under an enactment, in relation to the entering by a public authority into a contract with any person for the provision of goods or services by that person to such authority, (V) any code of conduct for the directors and members of staff of State enterprises issued by the Government, the Minister or the Minister for Public Expenditure and Reform, and (ii) regard has been had to— (I) guidelines issued under section 27 (4), (II) guidelines issued by the Government or the Minister for Public Expenditure and Reform, in relation to the entering by a public authority into a contract with any person for the provision of goods or services by that person to such authority, (III) guidelines issued by the Government or the Minister for Public Expenditure and Reform, in relation to the accounts of State enterprises or statements in respect of the financial affairs of Shannon Group, (IV) guidelines issued by the Government or the Minister for Public Expenditure and Reform in relation to the remuneration to be paid by State enterprises to their chief executives, (e) where anything referred to in— (i) paragraph (d)(i) is stated not to have been complied with or adhered to, or (ii) paragraph (d)(ii) is stated that regard has not been given to, an explanation as to why there was a failure to comply with it or adhere to it or have regard to it, as the case may be. (3) In this section “State enterprise” means a company (within the meaning of the Companies Acts) in which one or more than one share in the shareholding is held by a Minister of the Government and the principal objects of which (as stated in its memorandum of association) are prescribed in whole or in part by statute. Superannuation schemes - Shannon Group 23. (1) Subject to subsection (8) , Shannon Group shall prepare and submit to the Minister a scheme or schemes for the granting of superannuation benefits to or in respect of such members of the staff (including chief executives) of Shannon Group and of its subsidiaries as it decides. (2) Every such scheme shall fix the time and conditions of retirement for all persons to or in respect of whom superannuation benefits are payable under the scheme and different times and conditions may be fixed in respect of different classes of persons. (3) Every such scheme may be amended or revoked by a subsequent scheme prepared, submitted and approved under this section. (4) A scheme submitted to the Minister under this section shall, if approved of by the Minister, with the consent of the Minister for Public Expenditure and Reform, be carried out by Shannon Group in accordance with its terms. (5) A scheme made under this section shall make provision for appeals. (6) Superannuation benefits shall not be granted by Shannon Group nor shall any other arrangements be entered into by Shannon Group for the provision of such benefit to a member of the staff of Shannon Group, or of a subsidiary of Shannon Group, otherwise than in accordance with a scheme under this section, or otherwise as may be approved of by the Minister, with the consent of the Minister for Public Expenditure and Reform. (7) A scheme under this section shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the scheme is passed by either such House within the next 21 days on which that House has sat after the scheme is laid before it, the scheme shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder. (8) Should Shannon Airport Authority have a scheme in operation immediately before the establishment of a scheme under this section, for the granting of superannuation benefits to or in respect of members of its staff in accordance with section 32 (inserted by section 34 ) of the Act of 1998, that scheme may be provided for the benefit of such members of staff (including chief executives) of Shannon Group and of all or any of its subsidiaries as Shannon Group decides. Membership of Houses of Oireachtas or European Parliament 24. (1) Where a director of Shannon Group or a subsidiary of Shannon Group is— (a) nominated as a member of Seanad Éireann, (b) elected as a member of either House of the Oireachtas or to be a member of the European Parliament, or (c) regarded pursuant to Part XIII of the Second Schedule to the Act of 1997 as having been elected to that Parliament, he or she shall thereupon cease to be a director of Shannon Group or any subsidiary of Shannon Group, as the case may be. (2) Where a person employed by Shannon Group or a subsidiary of Shannon Group is— (a) nominated as a member of Seanad Éireann, (b) elected as a member of either House of the Oireachtas or to be a member of the European Parliament, or (c) regarded pursuant to Part XIII of the Second Schedule to the Act of 1997 as having been elected to that Parliament, he or she shall thereupon stand seconded from employment by Shannon Group or any subsidiary of Shannon Group, as the case may be, and shall not be paid by, or be entitled to receive from, Shannon Group or any subsidiary of Shannon Group any remuneration or allowances in respect of the period commencing on such nomination or election, or when he or she is so regarded as having been elected (as the case may be), and ending when such person ceases to be a member of either House or such Parliament. (3) A person who is for the time being entitled under the Standing Orders of either House of the Oireachtas to sit therein or who is a member of the European Parliament shall, while he or she is so entitled or is such a member, be disqualified from becoming a director of Shannon Group or a subsidiary of Shannon Group or from employment in any capacity by Shannon Group or a subsidiary of Shannon Group. (4) Without prejudice to the generality of subsection (2) , that subsection shall be construed as prohibiting the reckoning of a period therein mentioned as service with the company or a subsidiary of the company for the purposes of any pensions, gratuities or other allowances payable on resignation, retirement or death. (5) In this section “Act of 1997” means European Parliament Elections Act 1997 . Disclosure by directors of certain interests 25. (1) Where at a meeting of the directors of Shannon Group or of any subsidiary thereof any of the following matters arises, namely— (a) an arrangement to which Shannon Group or a subsidiary of Shannon Group is a party or a proposed such arrangement, (b) a contract or other agreement with Shannon Group or a subsidiary of Shannon Group or a proposed such contract or other agreement, (c) the giving, grant or renewal by Shannon Group or a subsidiary of Shannon Group of a certificate, lease, licence, authorisation or instrument of approval, or (d) the revocation, cancellation, withdrawal, suspension or endorsement by Shannon Group or a subsidiary of Shannon Group of a certificate, licence, authorisation or instrument of approval, then, any director of Shannon Group or the first-mentioned subsidiary present at the meeting who otherwise than in his or her capacity as such a director has a material interest in the matter shall— (i) at the meeting disclose to Shannon Group or the first-mentioned subsidiary the fact of such interest and the nature thereof, (ii) neither influence nor seek to influence a decision to be made in relation to the matter, (iii) absent himself or herself from the meeting or that part of the meeting during which the matter is discussed, (iv) take no part in any deliberation of the directors relating to the matter, and (v) not vote on a decision relating to the matter. (2) Where a material interest is disclosed pursuant to this section, the disclosure shall be recorded in the minutes of the meeting concerned and, for so long as the matter to which the disclosure relates is being dealt with by the meeting, the director by whom the disclosure is made shall not be counted in the quorum for the meeting. (3) Where at a meeting of the directors of Shannon Group or a subsidiary of Shannon Group a question arises as to whether or not a course of conduct, if pursued by a director of Shannon Group or the subsidiary of Shannon Group, would constitute a failure by him or her to comply with the requirements of subsection (1) , the question may, subject to subsection (4) , be determined by the chairperson of the meeting, whose decision shall be final, and where such a question is so determined, particulars of the determination shall be recorded in the minutes of the meeting. (4) Where, at a meeting of Shannon Group or a subsidiary of Shannon Group the chairperson of the meeting is the director in respect of whom a question to which subsection (3) applies falls to be determined, then the other directors of Shannon Group or the subsidiary of Shannon Group attending the meeting shall choose one of their number to be chairperson of the meeting for the purpose of determining the question concerned. (5) In the case of a director of Shannon Group or of a subsidiary of Shannon Group who is also a director of any subsidiary of Shannon Group or Shannon Group as the case may be, the interest thereby created is not to be considered an interest to be disclosed and acted upon under subsection (1) . (6) Where the Minister is satisfied that a director has contravened subsection (1) , the Minister may, if he or she thinks fit, and with the consent of the Minister for Public Expenditure and Reform, remove that director from office and, in case a person is removed from office pursuant to this subsection, he or she shall thenceforth be disqualified from being a director of Shannon Group or a subsidiary of Shannon Group. (7) Section 194 (as amended by section 2 of the Companies (Amendment) Act 2009 ) of the Companies Act 1963 does not apply to a director of Shannon Group or a subsidiary of Shannon Group. (8) Nothing in this section shall be taken to prejudice the operation of any rule of law restricting directors of Shannon Group or a subsidiary of Shannon Group from having any interest in contracts with Shannon Group or a subsidiary of Shannon Group. Disclosure by members of staff of certain interests 26. (1) Where a member of the staff of Shannon Group or of a subsidiary of Shannon Group has a material interest, otherwise than in his or her capacity as such a member, in any contract, agreement or arrangement or proposed contract, agreement or arrangement to which Shannon Group or the subsidiary is a party, or in a matter referred to in paragraph (c) or (d) of subsection (1) of section 25 , that person shall— (a) disclose to Shannon Group or the subsidiary, as the case may be, his or her interest and the nature thereof, (b) take no part in the negotiation of the contract, agreement or arrangement or in any deliberation by members of the staff of Shannon Group or the subsidiary in relation thereto or in relation to the matter aforesaid, and (c) neither influence nor seek to influence a decision to be made in the matter nor make any recommendation in relation to the contract, agreement or arrangement or the matter aforesaid. (2) Subsection (1) shall not apply to contracts or proposed contracts of employment of members of the staff of Shannon Group with Shannon Group or of members of the staff of a subsidiary of Shannon Group with that subsidiary. (3) Where a person contravenes this section, Shannon Group or the subsidiary of Shannon Group, as the case may be, may make such alterations to the person’s terms and conditions of employment as it considers appropriate or terminate the person’s contract of employment. Giving of directions and issuing of guidelines by Minister to Shannon Group 27. (1) The Minister may give a direction in writing to Shannon Group, in relation to the performance by Shannon Group of its functions under this Act, requiring it to comply with such policies of the Government as are specified in the direction. (2) Subject to subsection (3), a direction under subsection (1) shall be laid before each House of the Oireachtas as soon as may be after it is made. (3) Subsection (2) does not apply to a direction which the Minister considers relates to the security of the State or the security of, or safety at, Shannon Airport. (4) The Minister may issue guidelines to Shannon Group (including policy and financial guidelines) in respect of carrying out its functions. (5) Shannon Group shall— (a) comply with a direction given to it under subsection (1), and (b) have regard to any guidelines issued to it under subsection (4). PART 4 Transfer of Shares to Shannon Group Shannon Airport transfer day and Shannon Commercial Enterprises transfer day 28. (1) As soon as may be following the Shannon Group formation day, and after consultation with the Minister for Public Expenditure and Reform, the Minister shall by order provide that, without the need for any conveyance or assignment— (a) ownership of all shares— (i) held by the Minister for Public Expenditure and Reform in the share capital of Shannon Airport Authority stand vested in Shannon Group, and (ii) held in trust by persons for the Minister for Public Expenditure and Reform in the share capital of Shannon Airport Authority stand vested in Shannon Group, on such day as the Minister appoints in the order (in this Act referred to as the Shannon Airport transfer day), and (b) ownership of all shares— (i) held by the Minister for Public Expenditure and Reform in the share capital of Shannon Development stand vested in Shannon Group, and (ii) held in trust by persons for the Minister for Public Expenditure and Reform in the share capital of Shannon Development stand vested in Shannon Group, on such day as the Minister appoints in the order (in this Act referred to as the Shannon Commercial Enterprises transfer day). (2) No consideration shall be payable by Shannon Group in respect of the shares vested in Shannon Group under this section. (3) Shannon Group shall not dispose of the shares transferred under subsection (1) without the consent of the Minister given after consultation with the Minister for Public Expenditure and Reform. Cessation of membership of boards of Shannon Airport Authority and Shannon Development 29. (1) The members of the board of Shannon Airport Authority who hold office immediately before the Shannon Airport transfer day, shall on that day cease to hold office. (2) The members of the board of Shannon Development who hold office immediately before the Shannon Commercial Enterprises transfer day, shall on that day cease to hold office. Shannon Airport Authority Limited 30. As soon as maybe after the Shannon Airport Authority transfer day, Shannon Airport Authority shall be re-registered under the Companies Act 1963 as a private company limited by shares and on or from the day of its re-registration as such shall be known as, in the English language, Shannon Airport Authority Limited, or in the Irish language, Údarás Aerfort na Sionainne Teoranta. PART 5 Restructuring of Airport Companies Cork Airport Authority 31. (1) In this section (other than subsections (7) and (9)) “Cork Airport Authority” means Cork Airport Authority, public limited company established under section 6(2) of the Act of 2004. (2) Cork Airport Authority is dissolved on such day as the Minister may appoint by order. (3) After the dissolution of Cork Airport Authority and the discharge of its liabilities (if any)— (a) all monies remaining shall be paid into the Exchequer, and (b) any assets remaining shall be disposed of as the Minister, with the consent of the Minister for Public Expenditure and Reform, directs. (4) Following the dissolution of Cork Airport Authority a company shall not be formed and registered under the Companies Acts under that name save in accordance with this section. (5) Upon the dissolution of Cork Airport Authority any arrangement entered into between Cork Airport Authority and Dublin Airport Authority under section 8(1) (a) of the Act of 2004 ceases. (6) The Minister may, after consultation with the Minister for Public Expenditure and Reform, before the Cork appointed day, cause a public company limited by shares— (a) to be formed and registered under the Companies Acts under and in accordance with the conditions laid down by this section and the Act of 2004, and (b) on and from the Cork appointed day to have vested in it, manage, operate and develop Cork Airport. (7) The name of the company to have vested in it, manage and operate Cork Airport, shall be in the English language, Cork Airport Authority, public limited company, or in the Irish language, Údarás Aerfort Chorcaí, cuideachta phoiblí theoranta. (8) Section 6 of the Act of 2004 is amended— (a) in subsection (2), by deleting paragraph (a), and (b) in subsection (3), by deleting paragraph (a). (9) A reference in the Act of 2004 to Cork Airport Authority is a reference to Cork Airport Authority formed and established under this section. (10) The Act of 1998 is amended in section 10, by substituting for subsection (2) (inserted by paragraph (4) of the Schedule to the Act of 2004) the following: (2) Cork Airport Authority, public limited company shall, as soon as may be, after the Cork appointed day under section 5 of the State Airports Act 2004 , issue to the Minister for Public Expenditure and Reform, without payment by him or her, such number of shares in the share capital of the company as shall be determined by that Minister of the Government on that day.” (11) The Act of 2004 is amended in section 12, by substituting for subsections (4) and (5) the following: “(4) Every person who is a member of the staff of daa working wholly or mainly in connection with Cork Airport immediately before the Cork appointed day shall, on that day, be transferred to and become a member of the staff of Cork Airport Authority. (5) Every person who is a member of the staff of daa who is not working in connection with Dublin Airport, or immediately before the Cork appointed day, Cork Airport but whose work involves shared services in a State airport shall remain or be transferred to and become a member of the staff of the company which continues to provide the shared services or which is designated by the Minister to provide such services.” (12) Subsections (3) to (11) have effect on the day appointed under subsection (2) . (13) The following is substituted for section 10 of the Act of 2004— “10. (1) The authorised share capital of Cork Airport Authority shall be such amount as may be determined from time to time by the Minister for Public Expenditure and Reform, after consultation with the Minister, divided into shares of €1 each. (2) Cork Airport Authority may, with the consent of the Minister of Public Expenditure and Reform given after consultation with the Minister, divide shares into different classes and attach to those classes any rights, privileges or conditions. (3) Cork Airport Authority shall issue 38,100 shares to the Minister for Public Expenditure and Reform and may, from time to time, thereafter issue to the Minister for Public Expenditure and Reform such number of shares as may be agreed upon by the Minister and the Minister for Public Expenditure and Reform. (4) Cork Airport Authority shall issue one share to each of the subscribers to its memorandum of association who shall hold such shares in trust for and shall act in relation to such shares as may be directed by the Minister for Public Expenditure and Reform. (5) Notwithstanding section 6(4), sections 9, 10 and 11 (as amended by the Schedule) of the Act of 1998 apply to Cork Airport Authority.” (14) From the Cork appointed day a reference in any enactment or instrument made under an enactment to Aer Rianta in respect of Cork Airport is to be read as a reference to Cork Airport Authority. (15) Before the Cork appointed day a reference in any enactment or instrument made under an enactment to Aer Rianta in respect of Cork Airport is to be read as a reference to daa. Re-naming Dublin Airport Authority as daa 32. (1) Dublin Airport Authority, public limited company, known in the Irish language as Údarás Aerfort Bhaile Átha Cliath, cuideachta phoiblí theoranta shall be re-named as, in the English language, daa, public limited company, and in the Irish language, daa, cuideachta phoiblí theoranta. daa shall amend its memorandum and articles of association to reflect this change of name. (2) A reference in the Act of 2004 or any other enactment, statutory instrument or any other document or proceedings to Dublin Airport Authority is to be read as a reference to daa. Consequential amendments relating to preceding sections 33. (1) The Act of 2004 is amended— (a) in section 4— (i) in the definition of “company” by substituting “daa” for “Dublin Airport Authority”, (ii) by substituting for the definition of “Dublin Airport Authority” the following: “ ‘daa’ means daa, public limited company;”, (iii) by substituting for the definition of “Shannon Airport Authority” the following: “ ‘Shannon Airport Authority’ has the meaning assigned to it in section 2 of the State Airports (Shannon Group) Act 2014;”, and (iv) by substituting for the definition of “State Airport” the following: “ ‘State Airport’ means an airport in the State, managed and controlled by a company;”, (b) in section 6, by substituting for subsection (5) the following: “(5) A reference in any other enactment or instrument made under an enactment to Aer Rianta is to be read as a reference to— (a) daa, (b) Shannon Airport Authority, and (c) from the Cork appointed day, Cork Airport Authority, or any of them, as the case may be.”, (c) in section 8— (i) by deleting subsections (1) to (4), and (ii) by substituting for subsection (5) the following: “(5) daa shall have vested in it, manage, operate and develop Dublin Airport and, until the Cork appointed day, Cork Airport.”, (d) in section 9— (i) by substituting for subsections (1) and (2) the following: “(1) The memorandum and articles of association of daa and, from its appointed day, Cork Airport Authority, shall be in such form consistent with the Airports and Aviation Acts 1936 to 2014 as may be approved of by the Minister with the consent of the Minister for Public Expenditure and Reform. (2) The articles of association of daa and from its appointed day, Cork Airport Authority, shall be consistent with section 22(3) of the Act of 1998.”, and (ii) in subsection (9), by deleting “and Shannon Airport Authority”, and (e) in section 14, by inserting after subsection (6) the following: “(7) In this section ‘company’ means daa or Cork Airport Authority, as the case may be.” (2) The Act of 2001 is amended— (a) in section 32(2) (inserted by section 22(1) (a) of the Act of 2004) by substituting “daa” for “Dublin Airport Authority”, and (b) in section 33 (inserted by section 22(4) of the Act of 2004) by substituting “daa” for “Dublin Airport Authority” in each place it occurs. (3) The Act of 1998 (as amended by the Schedule to the Act of 2004) is amended— (a) in section 2(1), by substituting for the definition of “company” the following: “ ‘company’ means— (a) in Part II, in sections 22, 27 to 31 and 33 to 35 of Part IV— (i) daa, public limited company, and (ii) daa, public limited company, and from the Cork appointed day, Cork Airport Authority, public limited company, and (b) in any other provision— (i) daa, public limited company, (ii) Shannon Airport Authority (within the meaning of section 2 of the State Airports (Shannon Group) Act 2014), and (iii) from the Cork appointed day, Cork Airport Authority, public limited company;”, (b) in section 8, by substituting for subsection (1) the following: “(1) Proceedings for an offence may be brought and prosecuted summarily by— (a) where the offence relates to Dublin Airport, daa, (b) where the offence relates to Shannon Airport, Shannon Airport Authority, or (c) where the offence relates to Cork Airport, before the Cork appointed day, daa, and from that day, Cork Airport Authority.”, (c) in section 9, by substituting “daa” for “Dublin Airport Authority” in each place it occurs, (d) in section 13, by substituting for subsection (5) the following: “(5) The aggregate at any one time of moneys borrowed under this section shall not exceed— (a) in the case of daa and any of its subsidiaries, from the Dublin appointed day, €1.8 billion, and (b) in the case of Cork Airport Authority and any of its subsidiaries, from the Cork appointed day, €100 million,”, (e) in section 22(1), by substituting “daa, public limited company” for “Dublin Airport Authority, public limited company”, (f) in section 48, by substituting for subsection (1), the following: “(1) For the purposes of this Act— (a) daa, in relation to Dublin Airport, (b) Shannon Airport Authority, in relation to Shannon Airport, and (c) daa, before the Cork appointed day and from that day, Cork Airport Authority, in relation to Cork Airport, may appoint such persons or classes of persons as it considers appropriate to be authorised officers.”, and (g) in section 51, by substituting for subsection (1) the following: “(1) For the purposes of this Act— (a) daa, in relation to Dublin Airport, (b) Shannon Airport Authority, in relation to Shannon Airport, and (c) before the Cork appointed day, daa, and from that day, Cork Airport Authority, in relation to Cork Airport, may appoint such and so many of its employees as it considers appropriate to be authorised persons for the purposes of this Act.” (4) A reference in any other enactment or instrument made under an enactment (other than an enactment referred to in this section) to— (a) Aer Rianta, is to be read as a reference to— (i) daa, (ii) Shannon Airport Authority, and (iii) from the Cork appointed day, Cork Airport Authority, or any of them, as the case may be, and (b) Dublin Airport Authority is to be read as a reference to daa. (5) A reference to the company in any instrument made under the Act of 1998 shall be construed as a reference to a company (within the meanin …