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PART 3
Administration of Shannon Group
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Memorandum and Articles of Association
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15. (1) In the formation of Shannon Group the Minister shall, with the consent of the Minister for Public Expenditure and Reform, draw up a memorandum and articles of association for Shannon Group and its principal objects shall be stated in its memorandum of association.
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(2) Shannon Commercial Enterprises shall alter its memorandum and articles of association for the purpose of making them conform to this Act.
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(3) Subsidiaries of Shannon Commercial Enterprises shall take such steps as may be necessary under the Companies Acts to alter their memoranda and articles of association for the purpose of making them conform to the provisions of this Act.
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(4) Shannon Airport Authority shall take such steps as may be necessary under the Companies Acts to alter its memorandum and articles of association for the purpose of making them conform to the provisions of this Act.
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(5) Notwithstanding anything contained in the Companies Acts, no alteration of the memorandum of association or the articles of association of Shannon Group, Shannon Airport Authority or Shannon Commercial Enterprises shall be valid or effectual unless made with the prior approval of the Minister given with the consent of the Minister for Public Expenditure and Reform.
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