Insurance (Miscellaneous Provisions) Act, 1985

Acquisition of shares of Company by Minister.

2.—(1) The Minister may, after consultation with the Minister for Finance, from time to time take up by subscription or purchase from the holder all the shares of the Company.

(2) All moneys from time to time required by the Minister to meet payments required to be made by him in respect of any shares taken up or otherwise acquired by him shall be advanced by the Minister for Finance out of the Central Fund or the growing produce thereof.

(3) This section and sections 3 and 11 of this Act shall be deemed to have come into operation on the 15th day of March, 1985.