S.I. No. 298/1993:

CÓRAS IOMPAIR ÉIREANN (ADDITIONAL FUNCTIONS) ORDER, 1993.

CÓRAS IOMPAIR ÉIREANN (ADDITIONAL FUNCTIONS) ORDER, 1993.

I, BRIAN COWEN, T.D., Minister for Transport, Energy and Communications, in exercise of the powers conferred on me by section 25 of the Transport (Re-organisation of Córas Iompair Éireann) Act, 1986 (No. 31 of 1986), the Communications (Transfer of Departmental Administration and Ministerial Functions) (No. 2) Order, 1987 ( S.I. No. 92 of 1987 ), as adapted by the Tourism and Communications (Alteration of name of Department and Title of Minister) Order, 1993 ( S.I. No. 17 of 1993 ), and with the consent of the Minister for Finance, hereby order as follows:

1. This Order may be cited as the Córas Iompair Éireann (Additional Functions) Order, 1993.

2. In this Order--

"the Act" means the Transport (Re-organisation of Córas Iompair Éireann) Act, 1986 (No. 31 of 1986);

"the Board" means Córas Iompair Éireann;

"company" means a company formed pursuant to section 6 of the Act.

3. The Board may guarantee, in such form and manner and on such terms and conditions as it thinks fit, the due repayment of any moneys borrowed by a company under section 20 of the Act.

4. The Board may indemnify a bank against all claims, demands, liabilities, costs, charges and expenses which may be brought or preferred against the bank or which the bank may incur arising out of or in connection with any guarantees given by the bank in favour of the Revenue Commissioners or an officer of the Revenue Commissioners in respect of any liabilities of a company to the Revenue Commissioners or an officer of the Revenue Commissioners.

5. (1) The Board may, on the written demand of the Civil Aviation Authority of the United Kingdom, guarantee the due repayment of any moneys or the discharge of any liabilities whether certain or contingent at any time owing or incurred to third parties by CIE Tours International (UK) Limited.

(2) The Board shall not so exercise the powers conferred on it by paragraph (1) of this Article that the amount, or aggregate amount, of principal which it may be liable to pay on foot of any guarantee or guarantees under this section for the time being in force exceeds £3,000,000.

6. The Board shall not so exercise the powers conferred on it by Articles 3, 4 and 5 of this Order that the amount of moneys which the Board may at any one time be liable to pay pursuant to any liability or liabilities incurred under the said Articles exceeds in aggregate £40,000,000.

GIVEN under my Official Seal, this 18th day of October, 1993.

BRIAN COWEN,

Minister for Transport, Energy

and Communications.

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

GIVEN under Official Seal of the Minister for Finance, this 18th day of October, 1993.

BERTIE AHERN,

Minister for Finance.

EXPLANATORY NOTE.

The purpose of the Order is to confer the Board of CIE with powers to issue guarantees on behalf of Companies in the CIE Group in respect of repayable monies due to certain parties.