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Establishment of companies by Company.
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7.—(1) The Company may, either by itself or with another person, with the consent of the Minister and the Minister for Finance, and subject to any conditions of either of those Ministers, promote and take part in the formation or establishment of a company under the Companies Acts, 1963 to 1999, to achieve the principal objects of the Company or to do anything the Company considers connected or incidental to those objects (including tourism related activities).
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(2) The Company may exercise total or partial control of the board of directors, by whatever name called, of a company that controls or manages the company.
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(3) The memorandum and articles of association of a company shall be in such form consistent with this Act as may be approved of by the Company with the consent of the Minister and the Minister for Finance.
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(4) A company shall make such reports and in such manner to the Company as it may require.
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(5) A company may, with the consent of the Company, enter into joint ventures with other persons.
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(6) The chief officer of a company shall hold office on and subject to such terms and conditions (including terms and conditions relating to remuneration) as may be approved of by the board of directors (or other authority, by whatever name called, that controls any such company) with the consent of the Company, the Minister and the Minister for Finance.
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(7) In this section, “company” means a company established under this section.
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