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Share capital of Shannon Group
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7. (1) The authorised share capital of Shannon Group shall be such amount as may be determined from time to time by the Minister for Public Expenditure and Reform, after consultation with the Minister, divided into shares of €1 each.
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(2) Shares in the share capital of the company shall not be issued without the consent of the Minister for Public Expenditure and Reform given after consultation with the Minister.
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(3) Shannon Group may, with the consent of the Minister for Public Expenditure and Reform given after consultation with the Minister, divide shares into different classes and attach to those classes any rights, privileges or conditions.
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(4) Shannon Group shall issue 38,100 shares to the Minister for Public Expenditure and Reform and may, from time to time thereafter, issue to the Minister for Public Expenditure and Reform such number of shares as may be agreed upon by the Minister and the Minister for Public Expenditure and Reform.
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(5) Shannon Group shall issue one share to each of the subscribers to the memorandum of association.
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