Investor Compensation Act, 1998


Administration of Investor Compensation

Formation of Company.

10.—(1) As soon as may be after the commencement of this section, the Minister shall take such steps as appear to him or her to be necessary or desirable to procure that a limited company to be known as “The Investor Compensation Company Limited” and in this Act referred to as “the Company” and satisfying the conditions laid down by this Act shall be formed and registered by the Bank under the Companies Acts, 1963 to 1990.

(2) The following conditions shall be satisfied by the Company—

(a) the Company shall be a company limited by guarantee,

(b) the name of the Company shall be “The Investor Compensation Company Limited”, and

(c) the memorandum of association and articles of association of the Company shall be in a form consistent with this Act.