S.I. No. 246/2003 - Air Navigation and Transport (Amendment) Act 1998 (Aggregate Borrowings Limit Variation) Order 2003

I, Seamus Brennan, T.D., Minister for Transport, in exercise of the powers conferred on me by section 13 (6) of the Air Navigation and Transport (Amendment) Act 1998 (No. 24 of 1998) (as adapted by the Public Enterprise (Alteration of Name of Department and Title of Minister) Order 2002 ( S.I. No. 305 of 2002 )), with the consent of the Minister for Finance and after consultation with Aer Rianta, cuideachta phoiblí theoranta, hereby order as follows:

1.        This Order may be cited as the Air Navigation and Transport (Amendment) Act 1998 (Aggregate Borrowings Limit Variation) Order 2003.

2.        The amount specified in section 13 (5) of the Air Navigation and Transport (Amendment) Act 1998 is varied by substituting “€671 million” for “£450 million” (inserted by the Air Navigation and Transport (Amendment Act 1998 (Aggregate Borrowings Limit Variation) (No. 2) Order 2000 ( S.I. No. 375 of 2000 )).

The Minister for Finance consents to the making of the foregoing Order.

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation).

This Order provides for an increase, from £450 million to €671 million, of the aggregate amount of moneys borrowed at any one time by Aer Rianta cuideachta phoiblí theoranta as specified in section 13 (5) of the Air Navigation and Transport (Amendment) Act, 1998 (No. 24 of 1998).