State Airports (Shannon Group) Act 2014

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.