Air Companies Act, 1966

Vesting in Minister for Finance upon death of director of an air company of director's share.

6.—Notwithstanding anything in section 2 of this Act, upon the retirement or death of a director of an air company or upon the office of a director of an air company becoming vacated in accordance with the articles of association of the company, the share held by such director shall, without the necessity of a transfer, vest in the Minister for Finance upon payment by the said Minister of the nominal value of such share to such former director or his legal personal representative.