The new Shannon Foynes Port Company was corporatised on 18 September 2000 under the Harbours Act, 1996 and 2000 (Transfer of functions of Foynes Port Company and Shannon Estuary Ports Company) Order, 2000, which gave effect to the amalgamation of the functions of the two port companies. The members of the implementation board were appointed on the date of corporatisation. The implementation board is currently overseeing the transition to a single estuary port company and under the terms of the above order its remit expires on 2 March 2002. In advance of that date it is my intention to replace the implementation board with the standard port company board of 12 directors whose term of appointment runs for five years.