Vocational Education (Amendment) Act, 2001

Amendment of section 5 of Regional Technical Colleges Act, 1992.

37.Section 5 of the Regional Technical Colleges Act, 1992 , is hereby amended by—

(a) the deletion, in subsection (1), of paragraph (e), and

(b) the insertion of the following subsection:

“(2A) (a) A college may, with the consent of the Minister, acquire such one or more subsidiaries or cause such one or more subsidiaries to be formed and registered under the Companies Acts, 1963 to 1999, as it considers appropriate, to perform such of its functions as it considers appropriate.

(b) The memorandum and articles of association of a subsidiary acquired or formed and registered pursuant to paragraph (a) shall in accordance with regulations made by the Minister (with the consent of the Minister for Finance) be in such form consistent with this Act, as may be determined by the college concerned.

(c) In this subsection ‘subsidiary’ means a subsidiary within the meaning of section 155 of the Companies Act, 1963 .”.