Finance Act, 2002

Write-off of certain repayable advances to Shannon Free Airport Development Company Limited.

136.—(1) In this section—

“Company” means the Shannon Free Airport Development Company Limited;

“Minister” means the Minister for Finance;

“specified housing and community services” means housing (including workers' dwellings) and community services which were financed by means of advances made by the Minister to the Company under the specified sections out of the Central Fund or the growing produce thereof;

“specified sections” means—

(a) section 4 of the Shannon Free Airport Development Company Limited (Amendment) Act, 1961 , which relates to workers' dwellings,

(b) section 4 (as amended by the Shannon Free Airport Development Company Limited (Amendment) Act, 1970 ) of the Shannon Free Airport Development Company Limited (Amendment) Act, 1963 , which relates to houses and community services, and

(c) section 4 of the Shannon Free Airport Development Company Limited (Amendment) Act, 1983 , which relates to the limit on the aggregate amount of the advances under the sections referred to in paragraphs (a) and (b).

(2) Where the Minister is satisfied that the Company has transferred to Clare County Council the interests that the Company has in property in respect of which advances were made to the Company under the specified sections out of the Central Fund or the growing produce thereof amounting to the sum of €11,409,916.13 for the provision of specified housing and community services, then that sum shall be written off.

(3) (a) Subject to paragraph (b), this section shall come into operation on such day as the Minister may by order appoint.

(b) An order under paragraph (a) shall not be made unless the Minister is satisfied that the property to which subsection (2) relates has been transferred by the Company to Clare County Council.