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Restructuring of IAA
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86. (1) Subject to Chapter 7 of Part 3 of the Act of 2014, the transfer of assets, liabilities, contracts, rights, obligations and other things necessary to give effect to the restructuring shall, as soon as possible with effect from the vesting day, be effected by the IAA or by the Minister under subsection (2), or by a combination of both.
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(2) The Minister may, with the consent of the Minister for Public Expenditure and Reform, by order or orders, provide for the doing of all such matters as the first-mentioned Minister believes necessary to give effect to the restructuring.
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(3) An order under subsection (2) may contain such provisions as the Minister considers necessary, including provisions dealing with assets, liabilities, contracts, rights, obligations and other things and provisions specifying the manner, the order in which and the effect of any transfer or transaction relating to such assets, liabilities, contracts, rights, obligations and other things.
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(4) The IAA may, with the consent of the Minister, or shall, at the Minister’s direction, enter into such arrangements with the IANS (including the terms and conditions upon which such arrangements may be entered into) for the purposes of effecting the restructuring and enabling the IANS to perform its functions under this Act.
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(5) The Minister may also give a direction prohibiting the IAA and the IANS from dealing with specified assets in a manner contrary to the direction.
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(6) In addition to section 7 of the Act of 1993, the Minister may give a direction to the IAA or the IANS in relation to any matter relating to or in anticipation of the restructuring.
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(7) The IAA, the Commission for Aviation Regulation and the IANS shall provide to the Minister all such information and other assistance as the Minister may require for the purposes of or in connection with the restructuring.
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(8) The Minister may, with the consent of the Minister for Public Expenditure and Reform, by order confer on the IAA and the IANS such additional functions connected with the restructuring as he or she thinks fit, subject to such conditions (if any) as may be specified in the order.
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(9) An order under subsection (8) may contain such incidental or supplementary provisions as may, in the opinion of the Minister, be necessary to give full effect to the order.
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