Is there a question surrounding the operation of a "Scheduled" service to the airport? If the company do not operate a "schedule" then perhaps they are compliant with the legislation?
I have never seen the Patton Flyer stop and wait at any of the stops on the route, so I guess their timetable is more of an estimate than anything other than at the originating stop. This would make it a little unreliable for me - I wouldn't like to be waiting at the stop for up to an hour when I could get a DART into town a lot easier and get any of the other airport buses from town instead.
The regulation thing is the usual Irish joke - the department has severe issues when it comes to licensing new routes . . . so they don't license them or it takes several *years* to license them. But at the same time they don't take action against people operating without a license. Have a look around here - http://garaiste.yuku.com/ for more discussion of licensing woes than you could possibly need.