Forestry Act, 1988
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Issue of shares to Minister for Finance in consideration of transfer of property. |
17.—(1) The company shall issue shares to the Minister for Finance to the value of the property transferred to it on the vesting day in accordance with sections 39 and 40 , and each share shall carry one vote. | |
(2) The Minister, with the consent of the Minister for Finance and following consultation with the company, shall issue as soon as possible after the vesting day a certificate certifying the sum which in his opinion represents the value of the property transferred to the company. | ||
(3) The company, after receipt of the certificate, shall issue to the Minister for Finance, without payment by him, fully paid-up shares of the company equal in nominal value to the sum so certified. |