Microenterprise Loan Fund Act 2012

12.

Name and share capital of subsidiary.

12.— (1) The name of the subsidiary shall be Microfinance Ireland.

(2) Paragraph ( b) of subsection (1) of section 6 (inserted by section 3 of, and the First Schedule to, the Companies (Amendment) Act 1983) of the Act of 1963 shall not apply to the subsidiary.

(3) The authorised share capital of the subsidiary shall be €1 comprising one share of €1 and that share shall be issued by the subsidiary to the Social Finance Foundation.

(4) The Social Finance Foundation shall not, without the consent of the Minister, alienate the share issued to it under subsection (3) .