Irish Shipping Limited Act, 1947

Acquisition by the Minister of shares.

3.—(1) The Minister may, after consultation with the Minister for Industry and Commerce, take up by subscription, or purchase from the holder, shares of the Company.

(2) The Minister may, subject to such conditions as he thinks fit and after consultation with the Minister for Industry and Commerce, agree with the Company that, if shares of the Company about to be offered for subscription are not taken up within a specified time by the public, he will take up and pay for such shares or a specified proportion thereof.

(3) Moneys required by the Minister for the purposes of this section shall be advanced out of the Central Fund or the growing produce thereof.