Bula Limited (Acquisition of Shares) Act, 1977

Acquisition by Minister of shares of Company and subsequent transfer.

2.—(1) The Minister may acquire not less than forty-nine per cent. of the issued shares of the Company in accordance with the Agreement and for that purpose may expend sums not exceeding in the aggregate £9,540,000.

(2) As soon as may be after the acquisition authorised by subsection (1) of this section, the shares of the Company so acquired shall be transferred to, and registered in the name of, the Minister for Finance.

(3) Notwithstanding anything in subsection (2) of this section or anything done under that subsection, any right or power referred to in the Agreement as being vested in the Minister shall continue to be exercisable by him.