State Airports (Shannon Group) Act 2014

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,


(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.