Gas (Amendment) and Miscellaneous Provisions Act 2024

Cancellation of shareholding

7. (1) Notwithstanding any enactment or rule of law or any provision contained in the constitution (within the meaning of section 2 of the Act of 2014) of Gas Networks Ireland, on the transfer day the shares issued to the dissolved body by Gas Networks Ireland shall be cancelled.

(2) No consideration shall be payable to the dissolved body in respect of the shares cancelled under subsection (1).