Air Navigation and Transport (Amendment) Act, 1998

Directors and chairpersons of subsidiaries of the company.

28.—(1) Notwithstanding anything contained in the Companies Acts, the directors of the board of any subsidiary which the Minister by direction in writing specifies shall be appointed, and may be removed from office, by the chairperson with the prior written consent of the Minister.

(2) Notwithstanding anything contained in the Companies Acts, the chairperson (whether so described or otherwise) may, on his or her own nomination, and, with the consent in writing of the Minister, be appointed to be chairperson of a subsidiary and may be removed from office by the Minister.

(3) A person who immediately before the commencement of this Act held office as a director or chairperson (whether so described or otherwise) of the board of directors of a subsidiary shall, subject to section 33 and the terms and conditions upon which that person was appointed, continue in office as such director or chairperson until the expiration of the period for which that person was appointed director or chairperson as if this Act had not been passed.

(4) For the purposes of this section, “subsidiary” means a company all of the issued shares in the share capital of which are held by or on behalf of the company.