Industrial Trust Company of Ireland Limited (Acquisition of Capital) Act, 1926

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Powers of Minister as shareholder.

4.—(1) The Minister may, so long as he holds any of the share capital of the Company acquired by him under this Act, exercise all or any of the rights and powers from time to time exercisable by the holder of such share capital, and where any of such rights or powers are exercisable by attorney the Minister may if he so thinks proper exercise such rights or powers by his attorney.

(2) The Minister may agree with the Company that so long as he holds any of the share capital of the Company acquired by him under this Act he shall be entitled to nominate two of the directors of the Company, and in the event of such agreement being made it shall be lawful for the Minister to nominate directors of the Company in accordance therewith.