parties to the notified agreement are First Rate Bureau de Change Limited and
the Minister for the Marine. First Rate, a subsidiary of the Bank of Ireland,
is an undertaking engaged in the provision of Bureau de Change and ATM
facilities generally, and additional services, such as, the sale of telephone
cards and related items for a fee and is an undertaking. In exchange for the
payment of a fee to the Minister for the Marine, First Rate is permitted to use
and occupy a premises at the ferry terminal for the provision of such services.
In addition, the Minister receives a fee of £0.70 for each Bureau de
Change transaction and a separate fee in respect of each ATM transaction
corresponding to that laid down in schedule 1 of the agreement.
Competition Authority certifies that, in its opinion, on the basis of the facts
in its possession, the Concession Agreement between First Rate Bureau De Change
Limited and the Minister for the Marine notified under Section 7 of the
Competition Act on 27 May 1997 (notification no.CA/8/97) does not contravene
Section 4(1) of the Competition Act, 1991, as amended.