Telecommunications (Miscellaneous Provisions) Act 1996

Issue of shares, etc.

8

8.—(1) Notwithstanding any provision of the Principal Act—

(a) F10[…]

F11[(aa) The Minister may not dispose of any shares in the company other than as provided for in subsection (3)(a) without the general principles of the sale being laid before and approved by Dáil Éireann.]

(b) subject to subsection (2), the Minister or the Minister for Finance may buy, sell or otherwise transfer shares in the company.

(2) (a) F10[…]

(b) The Minister or the Minister for Finance may subscribe for further shares in the company to an amount not exceeding £100,000,000.

(c) All moneys required by the Minister for Finance or by the Minister with the consent of the Minister for Finance to meet sums payable by those Ministers in accordance with this section shall be paid out of the Central Fund or the growing produce thereof.

(3) F10[…]

Annotations

Amendments:

F10

Repealed (9.04.1999) by Postal and Telecommunications Services (Amendment) Act 1999 (5/1999), s. 3(1) and sch. 1, S.I. No. 87 of 1999.

F11

Inserted (9.04.1999) by Postal and Telecommunications Services (Amendment) Act 1999 (5/1999), s. 2, S.I. No. 87 of 1999.

Modifications (not altering text):

C4

Functions transferred and references to “Department of Finance” and “Minister for Finance” construed (29.07.2011) by Finance (Transfer of Departmental Administration and Ministerial Functions) Order 2011 (S.I. No. 418 of 2011), arts. 2, 3, 5 and sch. 1 part 2, in effect as per art. 1(2), subject to transitional provisions in arts. 6-9, and subject to the repeal of subss. (1)(a), (2)(a) and (3) as per F-note above.

2. (1) The administration and business in connection with the performance of any functions transferred by this Order are transferred to the Department of Public Expenditure and Reform.

(2) References to the Department of Finance contained in any Act or instrument made thereunder and relating to the administration and business transferred by paragraph (1) shall, on and after the commencement of this Order, be construed as references to the Department of Public Expenditure and Reform.

3. The functions conferred on the Minister for Finance by or under the provisions of —

(a) the enactments specified in Schedule 1, and

(b) the statutory instruments specified in Schedule 2,

are transferred to the Minister for Public Expenditure and Reform.

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5. References to the Minister for Finance contained in any Act or instrument under an Act and relating to any functions transferred by this Order shall, from the commencement of this Order, be construed as references to the Minister for Public Expenditure and Reform.

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Schedule 1

Enactments

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Part 2

1922 to 2011 Enactments

Number and Year

Short Title

Provision

(1)

(2)

(3)

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No. 34 of 1996

Telecommunications (Miscellaneous Provisions) Act 1996

Sections 5, 8 (1)(b), 8(2)(a), (b) and (c), 8(3)(b), 9(1), (2)(b) and (3)

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