Irish News Agency Act, 1949
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Name and capital of the Agency. |
6.—(1) Notwithstanding the provisions of section 3 of the Companies (Consolidation) Act, 1908 , the name of the Agency shall be the Irish News Agency. | |
(2) The share capital of the Agency shall be one hundred pounds divided into one hundred fully paid shares of one pound each and, notwithstanding anything contained in the Companies Acts, it shall not be lawful for the Agency without the consent of the Minister for Finance to increase or reduce that capital or to issue debentures. | ||
(3) One share in the share capital of the Agency shall be allotted and issued to each of the subscribers to the Memorandum of Association of the Agency and the residue of the said share capital shall be allotted and issued to the Minister for Finance. | ||
(4) The money payable by the subscribers to the Memorandum of Association of the Agency, and the Minister for Finance respectively as consideration for the allotment and issue to them of shares in the share capital of the Agency in pursuance of subsection (3) of this section shall be paid out of and shall be charged on the Central Fund or the growing produce thereof. |