7B.—(1) By virtue of this section, the Board has, as part of its functions, the power to create stock ("capital stock") subject to such terms and conditions contained in any capital stock scheme made pursuant to section 7E, in amounts that, in aggregate, are equal to the net assets of the Board.

F21[(2) (a) The Board may, in accordance with an approved scheme, make available to employees of the Board, or trustees on their behalf, up to 5 per cent of any capital stock in return for transformations in the company of at least equal value carried out by the employees of the Board.

(b) The Board shall issue 5 per cent of any capital stock to the Minister without payment and the said capital stock shall be treated as fully paid up.

(c) The Board shall issue 5 per cent of any capital stock to the Minister for Public Expenditure and Reform without payment and the said capital stock shall be treated as fully paid up.

(d) The Board shall issue the remainder of any capital stock to the majority-shareholding Minister appointed under paragraph (e) without payment and the said capital stock shall be treated as fully paid up.

(e) The Government may from time to time, for the purposes of implementing Directive 2009/73/EC of the European Parliament and of the Council of 13 July 2009³, by order appoint a Minister of the Government (other than the Minister or the Minister for Public Expenditure and Reform) to be the majority-shareholding Minister.]]