Irish Steel Holdings Limited (Amendment) Act, 1979

Amendment of section 3 of Principal Act.

4.—Section 3 (1) of the Principal Act (which imposes a limit of £6,000,000 on the acquisition of shares of the Company by the Minister for Finance) is hereby amended by the substitution of “£25,000,000” for “£6,000,000” (inserted by section 3 of the Act of 1963), and the said section 3 (1) as so amended, is set out in the Table to this section.

TABLE

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 £25,000,000, including any sum expended before the passing of this Act on such purchases from moneys provided by the Oireachtas.