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Irish Aviation Authority Act, 1993 (No. 29)Introductory TextActs Referred toPart I Preliminary and General (ss. 1-10)1. Short title and commencement.2. Interpretation.3. Application to state aircraft.4. Saving for lighthouse authorities.5. Provisions in relation to orders and regulations made by Minister or company.6. Laying of orders and regulations before Houses of Oireachtas.7. Directions by Minister to company.8. Disposal of monies received by Minister.9. Expenses.10. Repeals.Part II Establishment and Administration of Company (ss. 11-45A)11. Formation of company.12. Name and capital formation of company.13. Form of memorandum of association.14. Objects of company.15. Conferral of additional functions on company.16. General duty of company.17. Articles of association.18. Restriction on alteration of memorandum or articles of association.19. Issue of shares, and creation of debt due, to Minister for Finance in consideration of transfer of property.20. Issue of share to Minister.21. Issue of shares to subscribers to memorandum of association of company.22. Exercise of powers by Minister for Finance in respect of shares.23. Transfer by Minister for Finance of shares.24. Obligation of certain shareholders to hold shares in trust.25. Payment of dividends, etc., into Exchequer.26. Borrowing by company and subsidiaries.27. Guaranteeing by Minister for Finance of borrowing by company.28. Loans by Minister for Finance to company for purposes of working capital.28A. Advances and grants by Minister to company.29. Provision of money for payments out of Central Fund.29A. Statement of strategy.29B. Business plan.30. Accounts and audits.31. Annual report and furnishing of information to Minister.32. Reports by company on its technical and safety standards.32A. Annual aviation safety performance statements.33. Disclosure by directors of certain interests.34. Disclosure by members of staff of certain interests.35. Prohibition on unauthorised disclosure of information.36. Decisions by company in relation to technical and safety standards of aircraft and air navigation.37. Membership of either House of Oireachtas or European Parliament.38. Chief Executive.39. Remuneration, etc., of staff.40. Transfer of staff of Minister to company.41. Superannuation.42. Acquisition of land.42A. Right of entry on land by Authority.43. Charges by company in respect of air navigation and aeronautical communications services.44. Other charges by company.45. Recoupment by Minister of certain costs of company.45A. Detention and sale of aircraft by Authority for unpaid air navigation and aeronautical communications services charges.Part III Provisions in relation to Eurocontrol Convention (ss. 46-57C)46. Power of Minister to give effect to Eurocontrol Convention.47. Power of company to give effect to Eurocontrol Convention.48. Status and privileges of Eurocontrol and privileges of its personnel.49. Venue for proceedings for recovery of sums due to Eurocontrol.50. Enforceability and recognition of determination made in another contracting state.51. Application for enforcement of determination made in another contracting state.52. Documents required to accompany request for enforcement of determination.53. Effect of order for enforcement of determination.54. Non-recognition or non-enforcement of determination.55. Enforcement in other contracting states of determination by court in State.56. Keeping of records by aircraft operators.57. Parties to Eurocontrol Convention.57A. Regulations.57B. Random checks and inspections.57C. Evidence in proceedings.Part IV Provisions in relation to Chicago Convention, Certain Other International Agreements and Certain Organisations (ss. 58-63)58. Schedule 1 - Annexes to Chicago Convention.58A. Schedule 2 - European Union Regulations.59. Power of company to apply certain Annexes to Chicago Convention to internal flying.60. Provisions of orders made by company.61. Expenses of international organisations.62. Attendance of company at meetings of or organised by certain international organisations.63. Negotiation by company of certain agreements with international organisations or other states.Part IVA Enforcement (ss. 63A-63F)63A. Definitions - Part IVA.63B. Appointment of authorised officers.63C. Powers of authorised officers.63D. Search warrants.63E. Indemnification.63F. Fixed charge offences.Part V Miscellaneous (ss. 64-74D)64. Costs of investigation by Minister of accidents to aircraft.65. Powers of company in relation to accidents and other incidents affecting aircraft.65A. Aviation Stakeholders Forum and Licence Holders Charter.65B. Crew peer support programmes.66. Power of Minister to require cancellation or refusal of registration of aircraft.67. Detention of aircraft.68. Designation of areas of Irish airspace for use by Defence Forces.69. Charge of rates on property of company.69A. Regulations may be made to give effect to certain provisions of EASA Basic Regulation.70. Transfer of certain functions under Wireless Telegraphy Act 1926 to company.71. Restriction of Worker Participation (State Enterprises) Acts, 1977 to 1991.71A. Accountability of company, etc., to Committees of Oireachtas.72. Miscellaneous amendments of Acts.73. Proceedings.74. Offences.74A. Definitions - sections 74B to 74D.74B. Issue of enforcement notices.74C. Application for cancellation of direction specified in enforcement notice.74D. Rules of court.Part VI Transitional Provisions (ss. 75-81)75. Continuance of certain instruments.76. Continuance of pending legal proceedings.77. Transfer of land.78. Transfer of other property.79. Transfer of rights and liabilities.80. Transitional financial provisions.81. Liability for loss occurring before vesting day.Schedule 1 Annexes to Chicago Convention in relation to which functions stand conferred on companySchedule 2 European Union Regulations under which company is competent authority
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 8 December 1993 - onwards
Version 2 of 2

24. Obligation of certain shareholders to hold shares in trust.

(1) A member of the company to whom a share in the share capital of the company is issued under section 21 or transferred under section 23(1) or this section shall hold that share in trust for the Minister for Finance and shall accordingly be bound to pay all dividends and other money which he receives in respect of the share to the Minister for Finance for the benefit of the Exchequer and to transfer, as and when required by the Minister for Finance, the share to him or a person nominated in that behalf by him.

(2) Save when required pursuant to subsection (1), such member shall not transfer or alienate his share in the share capital of the company.

(3) Upon the death of a member of the company referred to in subsection (1), the share in the share capital of the company held by such member shall, without the necessity for a transfer, vest in the Minister for Finance.

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