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Postal and Telecommunications Services Act, 1983

Issue of shares to Minister for Finance.

19.—(1) The postal company shall issue to the Minister for Finance one share of one pound in the share capital of the company.

(2) The telecommunications company shall issue to the Minister for Finance one share of one pound in the share capital of the company.

(3) Subject to subsection (4), the Minister for Finance may exercise in respect of his share in the share capital of each company all the rights and powers of a holder of such shares and, where a right or power is exercisable by attorney, exercise it by his attorney.

(4) The Minister for Finance shall not transfer or alienate his share in the share capital of either company.