In the process, the following regulatory measures
were revoked: Decree-Law no. 102/90, of 21March as
currently worded, Decree-Law no. 102/91, of 8 March
as currently worded, Decree-Law no. 241/2008,
of 17 December, Decree-Law no. 217/2009 of
4 September as currently worded, Decree-Law
no. 33/2010 of 14 April, Decree-Law no. 86/2011,
of 1 July and Regulatory Decree no. 24/2009, of
4 September.
Another major factor with a strong impact in regulatory
terms is the Concession Contract signed between the
Portuguese State and ANA, S.A. This 50-year contract
for the concession of public airport service in support
of civil aviation lists the set of rights and obligations of
both parties.
The legislation mentioned above and the Concession
Contract are essential elements in the company’s
privatisation process, which began in 2012.
Within the scope of the privatisation process, the
following legislation was also enacted:
• Decree-Law no. 232/2012 of 29 October, which
approves the privatisation process of the share
capital through the sale of shares representing up
to 100% of the share capital;
• Council of Ministers Resolution no. 94-A/2012 of
8 November, which approves the contract specifi-
cations for the privatisation process of ANA, S.A.’s
share capital;
• Council of Ministers Resolution no. 96-A/2012
of 16 November, which mandates the inclusion of
potential investors who presented binding proposals
for the acquisition of shares in the phase following
the privatisation process;
• Council of Ministers Resolution no. 101/2012 of
6 December, which approves the public sale offer
of 5% of the shares of ANA, S.A., reserved for
purchase by its employees, setting the period of
unavailability to which these are subject, as well
as those shares that are the object of a sales offer
by private negotiation;
• Council of Ministers Resolution no. 111-F/2012
of 27 December, which selects the bidder VINCI -
Concessions S.A.S. to proceed with the acquisition
of the shares up to 100% of ANA, S.A.’s share
capital, which are the object of a sale by private
negotiation related to the privatisation process.
As a member of the European Union, Portugal equally
observes the legislation and community regulations
applicable to the civil aviation sector and, as a signatory
member of ICAO (International Civil Aviation Organiz-
ation), the Portuguese State observes the various
standards and sectorial guidelines handed down by this
international body.
In regard to subsidiaries, through Regional Legislative
Decree 8/92/M, of 21 April, the Autonomous Region
of Madeira granted ANAM, S.A., the
“right to carry
out work to enlarge Santa Catarina airport and to
develop its infrastructures, as well as to plan and
operate the public service supporting civil aviation in
the Autonomous Region of Madeira, in accordance with
the law and the following clauses”
. The concession
contract, which had an initial term of 25 years starting
from 1 October 1993, was later extended by Regional
Legislative Decree 7-A/2000/M, of 15 March, for
periods of 5 years, up to a maximum of 15 years. We
anticipate that the concession will be extended in order
to maintain the status quo. The Autonomous Region of
Madeira, as the granting authority, is currently revising
the contract.
Portway, S.A. is licensed by INAC and is regulated
by the provisions of Decree-Law no. 275/99, of
23 July.
ANNUAL REPORT ‘12
ECONOMIC AND REGULATORY ENVIRONMENT
33
