State Airports Act 2004
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Share capital of Cork and Shannon Airport Authorities. |
10.—(1) The authorised share capital of Cork Airport Authority and of Shannon Airport Authority shall be such amount as may be determined from time to time by the Minister for Finance, after consultation with the Minister, divided into shares of €1 each. | |
(2) Cork Airport Authority and Shannon Airport Authority may, with the consent of the Minister for Finance given after consultation with the Minister, each divide the shares into different classes and attach to those classes any rights, privileges or conditions. | ||
(3) Cork Airport Authority and Shannon Airport Authority shall each issue 38,100 shares to the Minister for Finance and may, from time to time, thereafter issue to the Minister for Finance such number of shares as may be agreed upon by the Minister and the Minister for Finance. | ||
(4) Cork Airport Authority and Shannon Airport Authority shall each issue one share to each of the subscribers to the memorandum of association of such companies who shall hold such shares in trust for and shall act in relation to such shares as may be directed by the Minister for Finance. | ||
(5) Notwithstanding section 6 (4), sections 9, 10 and 11 (as amended by the Schedule ) of the Act of 1998 apply to Cork Airport Authority and Shannon Airport Authority. |