State Airports Act 2004
Share capital of Cork and Shannon Airport Authorities.
F9[10. (1) The authorised share capital of Cork Airport Authority shall be such amount as may be determined from time to time by the Minister for Public Expenditure and Reform, after consultation with the Minister, divided into shares of €1 each.
(2) Cork Airport Authority may, with the consent of the Minister of Public Expenditure and Reform given after consultation with the Minister, divide shares into different classes and attach to those classes any rights, privileges or conditions.
(3) Cork Airport Authority shall issue 38,100 shares to the Minister for Public Expenditure and Reform and may, from time to time, thereafter issue to the Minister for Public Expenditure and Reform such number of shares as may be agreed upon by the Minister and the Minister for Public Expenditure and Reform.
(4) Cork Airport Authority shall issue one share to each of the subscribers to its memorandum of association who shall hold such shares in trust for and shall act in relation to such shares as may be directed by the Minister for Public Expenditure and Reform.
(5) Notwithstanding section 6(4), sections 9, 10 and 11 (as amended by the Schedule) of the Act of 1998 apply to Cork Airport Authority.]
Substituted (27.07.2014) by State Airports (Shannon Group) Act 2014 (27/2014), s. 31(13), commenced on enactment.
Previous affecting provision: application of section affected and references construed (4.11.2011) by Ministers and Secretaries (Amendment) Act 2011 (10/2011), s. 16(4), commenced on enactment; section substituted as per F-note above.