Update 2pm:

Tests are being carried out on weapons - seized yesterday - to establish if they were used in the murder of David Byrne at the Regency Hotel.

Three AK47 - assault riffles - were found in a car on the N2 in Slane.

Detectives also arrested a 39-year-old man at the scene and are continuing to question him today.

It is not known if the weapons seizure was linked to yesterday's 18 property searches by the Criminal Assets Bureau in Dublin

Update 8am:

A man has been arrested and three assault rifles have been seized in Slane, Co Meath during a car search carried out by gardaí yesterday.

The car was being driven by a man in his 30's, thought to be from Donegal.

He is being held at Drogheda Garda Station for questioning under section 30 of the Offences Against the State act 1939.

The man can be held for up to three days.

It is understood the weapons, three AK-47 assault rifles, were used in the attack on the Regency Hotel that claimed the life of David Byrne.

The Irish Independent reports that gardaí are investigating the possibility that the weapons used in the attack were borrowed from dissident republicans in the North of Ireland.

The development comes just hours after a number of raids carried out by gardaí and Criminal Assets Bureau seized 29 cars, 6 motorbikes, 10 Rolex watches, a €38,000 betting slip and €300,000 from a number of residential and commercial properties in Dublin.