National Loan (Conversion) Act, 1935

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Offer of conversion rights to stockholders.

2.—(1) The Minister may, if he so thinks fit, offer, not later than the 16th day of November, 1935, to every stockholder the right to convert on the 1st day of December, 1935, his holding, or any part of his holding, of the stock of the loan into stock of the new loan on specified terms.

(2) The offer mentioned in the foregoing sub-section of this section, if made, shall be made—

(a) by publication in the Iris Oifigiúil, not later than the 16th day of November, 1935, of notice of such offer with such particulars thereof as the Minister shall think proper, and

(b) by publication of such notice in such further or other manner and at such time or times as the Minister shall think proper.

(3) If the Minister shall have made, before the passing of this Act, an offer to stockholders of the right to convert, in whole or in part, their holding of the stock of the loan which would have been an offer in accordance with this Act and valid thereunder if this Act had then been in force, such offer shall be deemed for all purposes to have been made under this section and this Act shall apply in respect thereof, and every application for conversion or redemption in pursuance of such offer which shall have been made in accordance with such offer before the passing of this Act shall be deemed for all purposes to have been made under this Act.