Séamus Brennan (Dublin South, Fianna Fail)

I am dealing with amendments Nos. 17, 21, 22, 23, 48 and 49. Paragraphs (i) and (ii) of amendment No. 17 provides that the Minister shall lay a report before both Houses of the Oireachtas or appear before an Oireachtas committee. I am always available to appear before Oireachtas committees whenever I am required to do so to discuss any issue within my portfolio. We do not need to change an Act to require me to appear before a Dáil committee. I am happy to do that. I have always done that, as indeed every Minister must. In regard to laying a report before the House, that can be solved by way of parliamentary question or Adjournment debate at any time, or even more substantively.

Amendment No. 17 is not considered necessary. As is normal in such situations, communications have and will be maintained with funders so as to ensure they are briefed appropriately on the restructuring. These matters are being and have been handled at the outset by the company and its advisers, in consultation with the Departments of Transport and Finance, in a professional manner. There has been no adverse reaction from any funders to these communications nor suggestions of any intention to initiate actions under event of default type clauses of the various loan agreements. The company, the two Departments and their respective advisers are fully apprised of the relevant clauses and these have been the subject of professional scrutiny from the outset.

The Bill is enabling in nature and provides for the restructuring process to proceed in a measured and orderly way which will not lead to any destabilisation of the company's funding arrangements. I made that clear yesterday. The Bill contains a number of conditions that must be met first before the restructuring of Aer Rianta can be given effect. In this context, it will be necessary for detailed business and financial plans to be prepared by the new boards of Dublin, Cork and Shannon Airports. It is a requirement of the Bill that these plans be approved by the Ministers for Transport and Finance with each House of the Oireachtas also being required to pass a positive resolution on appointed day orders for Cork and Shannon Airports before restructuring can be fully implemented. These financial plans will, of necessity, include obtaining any necessary consent from the funders in accordance with the terms of the relevant facilities. When putting draft appointed day orders before the Houses of the Oireachtas, the Minister will have to address all the issues emerging from the business planning process, including the concerns expressed today in regard to the funding aspects.

Amendments Nos. 21, 22 and 23, which relate to the business planning provisions in section 8(8) and (9), are similar. Unfortunately, I cannot accept these amendments as they seek to include the viability of the three airports as a criterion to be satisfied prior to the making of orders for the Cork and Shannon appointed days. As I said repeatedly, it is a matter for the new airport boards to draw up these plans and marketing strategies for their airports, which will ensure their sustainability, viability and growth in the future. Indeed, the directors of each of the new authorities have a fiduciary duty to ensure the viable operations of their companies. The Minister for Transport and the Minister for Finance, as provided for in section 5(3), will have to be satisfied as to the general state of operational and financial readiness for vesting of assets in the new Shannon and Cork Airports but the issue of viability is one for the boards of the airports.

In regard to amendment No. 48, this section as drafted provides that all orders made under Part 2 of the Bill must be laid before both Houses of the Oireachtas but that section 3(1) of the 1998 Act does not apply, that is, a resolution annulling an order cannot be made within 21 days. The section does provide that appointed day orders for Cork and Shannon Airports require a positive resolution by both Houses of the Oireachtas before being passed. This approach ensures that both Houses will have control over the key stages in the restructuring process, that is, the setting of the appointed days for Cork and Shannon Airports. As regards other orders to be made under this part of the Bill, the approach is geared towards providing maximum flexibility for carrying through what is, as I said earlier, a complex process as efficiently as possible, allowing for the fact that transactions will need to proceed within a clearly defined timetable.

On amendment No. 49, airport by-laws are of local and limited jurisdiction and, under the Bill, will be made by either the relevant airport authorities or, in the case of regional airports, the Minister. Accepting this amendment would mean the Statutory Instrument Act 1947 would apply, thereby requiring the by-laws to be published in the bound volume of statutory instruments. Statutory instruments are usually of general and national application, which would not be the case in regard to by-laws under the Bill.

In addition, the situation in regard to not laying by-laws affects the current position under the Air Navigation and Transport (Amendment) Act 1998 where there are no requirements to lay such by-laws. I ask Members not to ask me too much about the last statement.