Foir Teoranta Act, 1972.

Articles of association.

5.—(1) The articles of association of the Company shall be in such form consistent with this Act as may be approved of by the Minister.

(2) The articles of association shall provide—

(a) that the number of the directors of the Company (including the chairman) shall be not more than seven,

(b) that the chairman and other directors shall be appointed, and may be removed from office, by the Minister with the consent of the Minister for Industry and Commerce,

(c) that the remuneration of the chairman and other directors shall be determined by the Minister, and

(d) that no person shall be nominated as auditor of the Company without the approval of the Minister.