Social Welfare Act, 1950

Transfer of stocks, shares and securities of the Society.

9.—(1) All stocks, shares and securities which, immediately before the transfer day, were held by the trustees of the Society or by the Minister on behalf of the Society under paragraph (b) of subsection (1) of section 56 of the Act of 1911, as amended by subsection (4) of section 5 of the National Health Insurance Act, 1920, shall, on the transfer day and without any assignment, but subject where necessary to transfer in the books of any bank, corporation or company, become vested in the Minister for Finance to be held by him on behalf of the Fund.

(2) Stocks, shares or securities vested in the Minister for Finance by this section which, on the transfer day, are standing in the books of any bank, company or corporation in the name of the trustees of the Society or in the name of the Minister shall, upon the request of the Minister for Finance, be transferred in such books into the name of the Minister for Finance.