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Alienation of shares by Minister
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11. (1) The Minister may hold, for so long as he or she thinks fit, any shares in HBFI issued to the Minister.
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(2) Subject to subsection (3), the Minister may, at such time or times as appear to him or her appropriate, sell, transfer, exchange, surrender or dispose of all or any of the shares in HBFI on such terms and conditions as appear to the Minister to be appropriate.
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(3) The Minister may only sell, transfer, exchange or dispose of his or her shares in HBFI under subsection (2) to or with, as the case may be—
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(a) the NTMA,
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(b) the Minister for Housing, Planning and Local Government, or
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(c) a body under the aegis of the Minister for Housing, Planning and Local Government.
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(4) HBFI may, subject to the prior consent of the Minister, redeem all or any of the shares in HBFI on such terms and conditions as appear to the board of HBFI to be appropriate.
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(5) Any funds received in respect of—
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(a) the sale, transfer, exchange, surrender or disposal of any share under subsection (2), or
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(b) the redemption of any share under subsection (4),
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shall be paid into, or disposed of for the benefit of, the Exchequer.
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(6) Subject to this section, the Minister may, in respect of the shares in HBFI for the time being held by him or her, exercise all or any of the rights and powers from time to time exercisable by the holder of such shares.
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