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PART 3
Funding of HBFI
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Share capital of HBFI
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10. (1) The Minister shall subscribe to the constitution of HBFI.
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(2) HBFI shall on incorporation allot and issue to the Minister shares with a total nominal value of €20,000,000.
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(3) Subject to subsection (4), the allotment and issue of shares by HBFI shall be subject to the prior consent of the Minister.
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(4) HBFI may, from time to time, allot and issue to the Minister such number of shares as may be agreed upon and are subscribed for by the Minister.
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(5) HBFI may, with the consent of the Minister, divide shares into different classes and attach to those classes any rights, privileges or conditions.
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(6) In this section, “issue”, in relation to a share in HBFI, means the entry of the name of the person to whom the share is allotted in the register of members of HBFI.
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