9. —F7[(1) The memorandum and articles of association of daa and, from its appointed day, Cork Airport Authority, shall be in such form consistent with the Airports and Aviation Acts 1936 to 2014 as may be approved of by the Minister with the consent of the Minister for Public Expenditure and Reform.

(2) The articles of association of daa and from its appointed day, Cork Airport Authority, shall be consistent with section 22(3) of the Act of 1998.]

(3) The principal objects of each company shall, from its appointed day, be those set out in section 23 of the Act of 1998.

(4) (a) It shall be the general duty of each company from its appointed day—

(i) to conduct its affairs so as to ensure that the revenues of the company are not less than sufficient taking one year with another to—

(I) meet all charges which are properly chargeable to its revenue account,

(II) generate a reasonable proportion of the capital it requires, and

(III) remunerate its capital and pay interest on and repay its borrowings,

(ii) to take such steps either alone or in conjunction with other persons as are necessary for the efficient operation, safety, management and development of its airports,

(iii) to conduct its business at all times in a cost-effective manner, and

(iv) to regulate operations within its airports.

(b) Nothing in this subsection shall be construed as imposing on a company, either directly or indirectly, any form of duty or liability enforceable by proceedings before any court to which it would not otherwise be subject.

(c) In carrying out its functions, a company shall have regard to—

(i) the development of air transport,

(ii) any policy, financial or other guidelines given by the Minister to a company, in relation to the functions conferred on a company, and

(iii) the safety standards in relation to the operation of aircraft and air navigation applied and enforced by the Irish Aviation Authority.

(5) Notwithstanding the Act of 1998, the memorandum and articles of association of Aer Rianta may be amended in such manner as may for the purpose of the restructuring be determined by the Minister with the consent of the Minister for Finance.

(6) The principal objects of Aer Rianta shall, with effect from such day as the Minister shall by order appoint, in addition to those set out in section 23 of the Act of 1998, include an additional object to do all things as are necessary to give effect to the restructuring and its memorandum of association shall be amended accordingly. The day so appointed is the Dublin appointed day.

(7) In the formation of Cork Airport Authority and Shannon Airport Authority the Minister shall, with the consent of the Minister for Finance, draw up memoranda and articles of association for them and their principal objects shall be stated in their memoranda of association and each authority shall have all such functions as are necessary to give effect to such objects.

(8) In the formation of Cork Airport Authority and Shannon Airport Authority, the Minister shall, with the consent of the Minister for Finance, appoint such persons as directors to the boards of Cork Airport Authority and Shannon Airport Authority in accordance with the articles of association of the relevant company and section 22 (as amended by paragraph 9 of the Schedule) of the Act of 1998 applies to such appointments.

(9) The Minister may, with the consent of the Minister for Finance and following consultation with such trade union representatives as he or she believes appropriate, appoint on a temporary basis persons as worker directors to the boards of Cork Airport Authority F8[…] until the Minister is in a position to appoint persons as directors under the Act of 1977.

(10) Prior to their respective appointed days a chairperson shall be appointed to each of the boards of Cork Airport Authority and Shannon Airport Authority by the Minister, with the consent of the Minister for Finance, and section 27 (as amended by paragraph 12 of the Schedule) of the Act of 1998 applies to such appointments.

(11) Prior to their respective appointed days, a Chief Executive may be appointed to Cork Airport Authority and to Shannon Airport Authority by such directors appointed under subsection (8) and (9) (if any) and section 29 (inserted by paragraph 14 of the Schedule) of the Act of 1998 applies to such appointments.