The only company authorised under EU law to carry passengers on scheduled services in Ireland is IE, NIR can also provided the train crosses the border. The RPSI do not have a license to run, IE/NIR run the trains for them.
Lots of people have gone looking for something that is not there with the whole Fishguard and Rosslare company, IE are fully liable for all losses and gains on the Irish side. The company is not trading and doesn't seem to exist bar a complex set of shareholder capital management processes
The accounts state
Quote:
By virtue of Agreements dated 27 May 1898 and 14 February 1903, scheduled to the Fishguard and Rosslare Railways and Harbours Acts 1899 and 1903 respectively, the Company's undertaking on the English side is managed by Stena Line Ports Limited as regards Fishguard Harbour and by Stena Line Limited as regards the shipping service between Fishguard and Rosslare; the undertaking on the Irish side is managed by Iarnrod Eireann (Irish Rail). The managing companies are entitled to the receipts and responsible for any losses of the parts of the undertaking under their respective management, and such receipts and losses are not reflected in these accounts. Payment of dividends on the Preference Stock (other than that on which the right to dividend has been irrevocably waived by the holders thereof) is guaranteed by Coras Iompair Eireann and the British Railways Board.
The whole of the Company's ordinary capital is held by Stena Line Ports Limited and Iarnrod Eireann, from which companies the Directors are appointed. The emoluments of the Directors are paid by their respective appointing companies, and are not borne by the Fishguard and Rosslare Railways and Harbours Company. Because the Company is not trading, the main responsibility of the Directors is to maintain and service the Company's capital. These accounts relate to their discharge of that responsibility.
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