Industrial Development (Encouragement of External Investment) Act, 1958

Status of Ministers of State as shareholders.

12.—(1) Where a Minister of State holds in his Ministerial capacity any shares in an Irish company, then, as regards those shares, he shall, for the purposes of this Act, be deemed to be the beneficial owner thereof and also a qualified (1932 Act) person and a qualified (1934 Act) person.

(2) Where, at any time before the passing of this Act, a Minister of State held in his Ministerial capacity any shares in an Irish company, then, as regards those shares, he shall, for the purposes of this Act, be deemed to have been at that time the beneficial owner thereof and also a qualified (1932 Act) person and a qualified (1934 Act) person.