#1393472
Achtanna na gCuideachtaí, 1963 go 1982
"the Companies Acts" means the Companies Acts, 1963 to 1982; [GA] "the Minister" means the Minister for Industry and Energy. [GA] Share capital of the Company. 2. —Notwithstanding anything contained in the Companies Acts or in the memorandum or articles of association of the Company, the share capital of the Company shall be one million pounds divided into shares of one pound each and the Company shall have the power, with the consent of the Minister for Finance, to divide the shares in the capital of the Company into several classes and to attach thereto respectively any preferential, deferred, qualified or special rights, privileges or conditions. [GA] Acquisition of shares by Minister for Finance. 3. —(1) The Minister for Finance may, after consultation with the Minister, from time to time take up by subscription or purchase from the holder shares of the Company of any class or classes to an amount not exceeding in the aggregate one million pounds. [GA] (2) All moneys from time to time required after the passing of this Act by the Minister for Finance to meet payments required to be made by him in respect of any shares taken up or otherwise acquired by him shall be advanced out of the Central Fund or the growing produce thereof. [GA] Holding by Minister for Finance of shares. 4. —(1) The Minister for Finance may hold for so long as he thinks fit any shares of the Company taken up or acquired by him under this Act and, after consultation with the Minister, may, as and when he thinks fit, sell or otherwise dispose of all or any of such shares. [GA] (2) The net proceeds of a sale by the Minister for Finance of shares of the Company shall be paid into or disposed of for the benefit of the Exchequer. [GA] Exercise by Minister for Finance of right or power exercisable by holder of shares. 5. —The Minister for Finance may exercise in respect of the shares of the Company held by him all the rights and powers of a holder of such shares and, where a right or power is exercisable by attorney, exercise it by his attorney. [GA] Payment of dividends, etc into Exchequer. 6. —All dividends and other moneys received by the Minister for Finance in respect of shares of the Company shall be paid into or disposed of for the benefit of the Exchequer. [GA] Alteration of memorandum and articles of association. 7. —The Company shall take such steps as may be necessary under the Companies Acts to alter the memorandum and articles of association of the Company to make them consistent with this Act. [GA] Restriction on alteration of memorandum and articles of association. 8. —Notwithstanding anything contained in the Companies Acts or in the memorandum or articles of association of the Company, an alteration in the said memorandum or articles shall not be valid or have effect unless made with the previous approval of the Minister given with the consent of the Minister for Finance and the Minister for the Public Service. [GA] Restriction on issue of shares. 9. —An issue of shares of the Company shall not be made unless the Minister for Finance, after consultation with the Minister, has authorised the issue. [GA] Borrowing by Company. 10. —No moneys may be borrowed by the Company without the prior approval of the Minister given with the consent of the Minister for Finance. [GA] Obligation to furnish balance sheets, etc. 11. —(1) The Company shall, as soon as may be after the end of each accounting year of the Company, furnish to the Minister— [GA] ( a ) a balance sheet as at the end of that accounting year duly audited by the auditor of the Company, [GA] ( b ) a profit and loss account for that accounting year duly audited by the auditor of the Company, and [GA] ( c ) a copy of the report of the directors of the Company to the shareholders of the Company for that accounting year. [GA] (2) The balance sheets and profit and loss accounts furnished pursuant to subsection (1) of this section shall be drawn up in such form as the Minister, with the consent o