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Nominee shareholders.
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4.—(1) A nominee of the Minister shall hold upon trust for the Minister the shares of the Company standing in his name as nominee and shall dispose of them in such manner as the Minister may from time to time direct in writing.
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(2) The direction of the Minister shall be a good authority and discharge to the nominee to whom it is given for everything done by him in accordance with it and the nominee shall not be entitled or concerned to enquire if it is lawfully given.
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(3) A nominee shall, in the exercise of his rights and powers in respect of the shares standing in his name as nominee, act in accordance with the directions of the Minister.
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(4) All dividends and other money received by a nominee in respect of the shares standing in his name as nominee and also the net proceeds of the sale of those shares shall be paid into the Exchequer.
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(5) In this section “nominee” includes the personal representative of a deceased nominee.
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