My understanding of the ownership of the site in question is that by deed of surrender and lease dated 22 May 1996 and made between the Minister for Finance of the first part, the Minister for the Marine and Natural Resources of the second part and Irish Steel Limited of the third part, the property held by Irish Steel Limited on Haulbowline Island was demised to that company for a term of 35 years. Irish Steel Limited was subsequently sold on 30 May 1996 and the company's name changed to Irish Ispat Limited.
The effect of the deed of 22 May 1996 was to regularise Irish Steel Limited's title to its property on Haulbowline which had formerly been held under several leases granted since 1938 by various Government Departments, all for different terms. In addition, certain lands which the former Irish Steel Limited had occupied on the island had never been the subject of formal leases but were held merely on the basis of oral or written permission from the Department of Defence.