Turf Development Act, 1998

Exercise of powers by Minister for Finance in respect of shares.

16.—(1) Subject to the provisions of this Act, the Minister for Finance may, in respect of shares held by him or her, exercise all the rights of a holder of such shares and, where such a right or power is exercisable by attorney, exercise it by his or her attorney and, subject to subsection (3), may dispose of shares held by him or her.

(2) The Minister for Finance may, from time to time as occasion requires for the purposes of compliance with so much of the Acts as requires that there shall always be a minimum number of members of a company, transfer without payment therefor to any person one of his or her shares.

(3) The Minister for Finance shall not, unless authorised by Dáil Éireann by resolution to do so, reduce his or her holding of shares to less than a majority of the issued shares.