Dáil Eireann Loans and Funds Act, 1924

• Permanent Page URL

Certain shares in National Land Bank Limited transferred to Minister for Finance.

3.—(1) All shares in the National Land Bank Limited now standing in the name of or otherwise vested in the Natland Auxiliary Society Limited shall be transferred to and vest in the Minister, and all deeds of transfer and other instruments necessary to give effect to such transfer shall, on the request and at the cost of the Minister, be executed by the Natland Auxiliary Society Limited and all other necessary parties.

(2) The Minister may exercise all or any of the rights and powers which may from time to time be exercisable by the holder of the shares transferred to him by this section, and where any of such rights or powers are exercisable by attorney the Minister may if he so thinks proper exercise such rights or powers by his attorney.

(3) All liabilities which may from time to time be imposed on or incurred by the Minister under this section or by reason of his being the holder of the shares aforesaid shall be discharged by him out of moneys to be provided by the Oireachtas.

(4) The limitation contained in section 4 of the Industrial and Provident Societies Act, 1893, on the interest which may be had or claimed by one person in the shares of a society registered under that Act shall not apply to any interest in the shares of the National Land Bank Limited which shall be vested in or claimed by the Minister by virtue of this section.