Sustainable Energy Act 2002
Power to establish subsidiaries.
7.—(1) The Authority may, with the consent of the Minister and the Minister for Finance, perform any of its functions through a subsidiary and, for the purpose of such performance, may acquire, form or establish one or more than one subsidiaries (within the meaning of section 155 of the Companies Act, 1963) and for that purpose may acquire, hold or dispose of shares or any other interest in a company or become a member of a company (within the meaning of the Companies Acts, 1963 to 2001).
(2) In relation to the exercise of its powers under subsection (1)—
(a) the Board of the Authority shall ensure that the memorandum and articles of association of a subsidiary are in a form consistent with this Act, and that the prior approval of the Minister and the Minister for Finance are obtained in relation to such memorandum and articles, and any alterations to them,
(b) the Minister may give a direction in writing to the Authority on any matter relating to a subsidiary, and the Authority shall comply or ensure compliance with any such direction,
(c) the Minister shall not issue a direction to the Authority under paragraph (b) which relates to the disposal of any assets or surpluses of a subsidiary without the consent of the Minister for Finance,
(d) the grades of staff and the number of staff of a subsidiary shall be determined by the Board of the Authority, with the consent of the Minister and the Minister for Finance,
(e) the staff of any subsidiary shall hold office or employment subject to such terms and conditions as are approved by the Minister with the consent of the Minister for Finance.
Annotations
Modifications (not altering text):
C2
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.
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
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Number and Year |
Short Title |
Provision |
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(1) |
(2) |
(3) |
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... |
... |
... |
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No. 2 of 2002 |
Sustainable Energy Act 2002 |
Sections 7, 8, 22, 13(6), 24 and 28 |
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... |
... |
... |