State Airports (Shannon Group) Act 2014

Obligation to hold shares in trust

8. (1) A person to whom a share in the share capital of Shannon Group is issued under subsection (5) of section 7 shall—

(a) hold that share in Shannon Group in trust for the Minister for Public Expenditure and Reform, and

(b) transfer the share, as and when required by the Minister for Public Expenditure and Reform, to that Minister of the Government or to a person nominated in that behalf by that Minister of the Government, but shall not transfer or alienate his or her share in the share capital of Shannon Group other than in accordance with this subsection.

(2) Where a member of Shannon Group dies, the share in the share capital of Shannon Group held by such member shall, without the necessity of a transfer, vest in the Minister for Public Expenditure and Reform.