Tour Operators and Travel Agents (Bonding) Regulations, 1983.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: These Regulations may be cited as the Tour Operators and Travel Agents (Bonding) Regulations, 1983.
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paragraphs: These Regulations shall come into operation on the 13th day of April, 1983.
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paragraphs: In these Regulations:—
"the Act" means the Transport (Tour Operators and Travel Agents) Act, 1982 (No. 3 of 1982);
"the Bond" has the meaning specified in section 13 of the Act.
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paragraphs: These Regulations apply to overseas travel contracts to which the Tour Operators (Licensing) Regulations, 1983 ( S.I. No. 100 of 1983 ), and the Travel Agents (Licensing) Regulations, 1983 ( S.I. No. 101 of 1983 ), apply.
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paragraphs: The Bond shall:—
(i) in the case of a tour operator, be for a sum of 10% of projected licensable turnover within the meaning of the Tour Operators (Licensing) Regulations, 1983.
(ii) in the case of a travel agent, be for a sum of 4% of projected licensable turnover within the meaning of the Travel Agents (Licensing) Regulations, 1983.
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paragraphs: The Bond shall be maintained for the period of validity of a licence or, if such licence is revoked by the Minister for any reason prior to its date of expiry, up to the date of such revocation, and the date of expiry or revocation shall be without prejudice to any liability which may be incurred under the Bond in respect of any obligations to customers arising under overseas travel contracts to which these Regulations apply, entered into during the period of validity of the licence, or a previous licence which expired immediately prior to the commencement of the licence period to which the current Bond relates.
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paragraphs: Any demand under the Bond by the Minister or his nominee shall be made in writing not later than six months after the date after which the Bond ceases to have effect, but on being satisfied that the licensee has discharged his obligations to his customers under overseas travel contracts to which the Bond relates, the Minister at his discretion, may release the provider of the Bond and any Guarantor thereof, from their obligations under the Bond and any guarantee relating thereto at any earlier date within the period of six months.
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paragraphs: Notwithstanding the generality of Articles 6 and 10 of these Regulations, where a new bond which comes into effect before or from the date after which the current bond ceases to have effect, is provided, or procured, by a licensee, the existing bond shall cease to be effective from the date of commencement of such new bond, and any losses or liabilities incurred by customers of the licensee as a result of the inability or failure of such licensee to meet his financial or contractual obligations to customers in relation to an overseas travel contract, shall fall to be discharged from monies payable under the new bond.
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paragraphs: The Bond may be comprised of all or any of the following:—
( a ) a cash sum deposited with the Minister;
( b ) a sum of money deposited in a bank or financial institution in the State in the sole name of the Minister;
( c ) a guarantee secured with a bank or insurance company;
( d ) a guarantee of such other type as may be acceptable to the Minister; or
( e ) any arrangement or scheme entered into on a collective basis by travel agents or any group of travel agents for the protection of their customers, provided that in the event of the inability or failure of any individual member of such collective groups to meet his obligations to his customers in relation to overseas travel, the amount of money payable to the Minister from such collective arrangements would be at the same level as that specified in Article 5 (ii) of these Regulations in respect of an individual travel agent.
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paragraphs: In the case of a bond of the type specified in Article 9 (a) or 9 (b) of these Regulations, or where it has been necessary for the Minister to apply such a bond for the purposes specified in the Act, the amount of the Bond or any residual balance thereof, as the case may be, shall be returned to the provider of the Bond with such interest as may have accrued thereon, but only after the Minister is satisfied that all obligations to customers of the tour operator or travel agent concerned who, during the period of validity of the licence, or a previous licence, which expired immediately prior to the commencement of the licence period to which the current Bond relates entered into overseas travel contracts to which these Regulations apply with such tour operator or travel agent, have been fully discharged.
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paragraphs: A bond of the type specified in Article 9 (c) of these Regulations shall be:—
( a ) secured only with:—
(i) insurance companies authorised to carry on suretyship business (Class 15) in accordance with the European Communities (Non-Life Insurance) Regulations, 1976 ( S.I. No. 115 of 1976 ); or
(ii) banks duly licensed under the Central Bank Act, 1971 (No. 24 of 1971);