Irish National Petroleum Corporation Limited Act, 2001

Disposal of assets and liabilities.

6.—The Minister may, with the consent of the Minister for Finance, in such form and manner and on such terms and conditions as he or she may determine, authorise—

(a) the disposal by the Corporation of some or all of—

(i) its assets, including its shares in Bantry Terminals Limited or Irish Refining plc or in both, but excluding its shares in the Agency, and

(ii) its liabilities,

to a person (“the purchaser”),

and

(b) the making of payments by the Corporation in relation to the establishment and funding of a trust.