Aer Lingus Act 2004
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Non-application of section 60 of Companies Act 1963. |
8.—(1) Section 60 of the Companies Act 1963 shall not apply to— | |
(a) any representation made or warranty or indemnity given by the Company or any subsidiary of the Company in connection with the sale or transfer by the Minister for Finance, or the issue by the Company, of any shares in the Company, or | ||
(b) any financial obligations undertaken by the Company or any subsidiary of the Company in connection with the sale or transfer by the Minister for Finance of any shares in the Company, or the issue by the Company, of any shares in the Company, | ||
for the purposes of an agreement entered into by that Minister under section 5 (1) of this Act. | ||
(2) Notwithstanding subsection (13)(b) of section 60 of the Companies Act 1963 , section 60 of that Act shall not apply to the provision, whether directly or indirectly, by the Company or any subsidiary thereof of money or a financial arrangement including a loan, guarantee, the provision of security or otherwise in connection with the purchase of, or subscription for, shares in the Company or its holding company by an employee share ownership trust established by the Company, or the transfer thereto of such shares, irrespective of whether or not all or a portion of such shares are pledged as security or otherwise to any third party. |