|
|
Issue of new shares to the Minister.
|
9.—(1) On the appointed day, the Corporation shall, in lieu of and in full satisfaction of all claims and rights in respect of existing shares registered in the name of the Minister, issue and allot to the Minister five hundred and eighty-four thousand two hundred and thirty-seven fully paid up shares of ten shillings each of the Corporation.
|
|
| |
(b) On the appointed day, the Minister shall pay to the Corporation as consideration for the issue to him of shares of the Corporation in pursuance of this subsection, the sum of £7,881 10s. 0d. (seven thousand, eight hundred and eighty-one pounds and ten shillings).
|
|
| |
(c) All moneys payable by the Minister to the Corporation in pursuance of this subsection shall be paid out of and shall be charged on the Central Fund or the growing produce thereof, and for the purpose of providing the said moneys the Minister may borrow moneys by means of the issue of such securities as he thinks proper and all moneys so borrowed shall be paid into, the Exchequer.
|
