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Postal and Telecommunications Services Act 1983

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Issue of shares to Minister for Finance.

19

19.—(1) The postal company shall issue to the Minister for Finance one share of one pound in the share capital of the company.

(2) F18[…]

(3) Subject to subsection (4), the Minister for Finance may exercise in respect of his share in the share capital of each company all the rights and powers of a holder of such shares and, where a right or power is exercisable by attorney, exercise it by his attorney.

(4) The Minister for Finance shall not transfer or alienate his share in the share capital of either company.

Annotations

Amendments:

F18

Repealed (9.04.1999) by Postal and Telecommunications Services (Amendment) Act 1999 (5/1999), s. 3(1) and sch. 1, S.I. No. 87 of 1999, art. 3.

Modifications (not altering text):

C16

Property, rights and liabilities transferred and references to Minister for Finance construed as Minister for Public Expenditure and Reform (4.07.2011) by Ministers and Secretaries (Amendment) Act 2011(10/2011), ss. 16(1), (4), commenced on enactment and in operation as per s. 1(2) and S.I. No. 401 of 2011.

Transfer of property, etc. to Minister.

16.—(1) All property, rights and liabilities held, enjoyed or incurred before the appointed day by the Minister for Finance in connection with any function transferred by this Act shall be and are hereby transferred to the Minister and, accordingly, without any further conveyance, transfer or assignment—

(a) the said property, real and personal, shall, from the appointed day, vest in the Minister,

(b) the said rights shall, from the appointed day, be enjoyed by the Minister, and

(c) the said liabilities shall, from the appointed day, be the liabilities of the Minister.

...

(4) (a) Any shares or stock issued to the Minister for Finance by a public service body and registered in his or her name or held in trust on his or her behalf by any person, in accordance with a relevant enactment, shall on the appointed day, stand transferred to the Minister or be held in trust on behalf of the Minister, as may be appropriate, and from that day references in a relevant enactment to the Minister for Finance shall be construed as references to the Minister.

(b) This subsection shall apply notwithstanding any restriction contained in any enactment in relation to the transfer or alienation of shares or stock to which a relevant enactment applies.

(c) In this subsection— ...

“relevant enactment” means— ...

(iv) section 19 of the Act of 1983,

...

C17

Application of subs. (3) restricted in so far as it applies to the company (9.04.1999) by Postal and Telecommunications Services (Amendment) Act 1999 (5/1999), s. 3(2) and sch. 2, S.I. No. 87 of 1999, art. 3.

Repeals

3.— ...

(2) The enactments mentioned in column (2) of the Second Schedule are hereby repealed to the extent mentioned in column (3) of that Schedule in so far as they apply to the company.

...

SECOND SCHEDULE

Section 3(2).

Number and Year

Short Title of Act

Extent of Repeal

(1)

(2)

(3)

No. 24 of 1983.

Postal and Telecommunications Services Act, 1983.

Section 8(2).

Section 10(2).

Section 11.

Section 19(3).

Section 22.

Section 24.

Section 27.

Section 28.

Section 30.

Section 32.

Section 33.

Section 37.

Section 38.

Section 39(3).

Section 46(1), (2), (3), (6), (7), (9) and (11).

Section 51.

C18

Application of subs. (4) restricted insofar as it applies to the company (7.02.1997) by Telecommunications (Miscellaneous Provisions) Act 1996 (34/1996), s. 14(2) and sch. 3 part II, S.I. No. 72 of 1996, art. 3.

Repeals

14.— ...

(2) The enactment mentioned in column (2) of Part II of the Third Schedule is hereby repealed to the extent mentioned in column (3) of that Schedule in so far as it applies to the company.

THIRD SCHEDULE

Repeals

Section 14

...

PART II

Number and Year

Title of Act

Extent of Repeal

(1)

(2)

(3)

No. 24 of 1983.

Postal and Telecommunications Services Act, 1983.

Sections 10 (3) (c) and (d), 16 (1) and (2) (a), (b), (c), (d), (f), 17, 19 (4), 21, 23, 25, 31 (3), 36 and 110 (5) in so far as they apply to the company.