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Amendment of section 5 of RTC Act.
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6.— Section 5 of the RTC Act is amended—
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(a) in subsection (1)—
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(i) in paragraph (c), by substituting “An tÚdarás” for “the Minister”,
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(ii) by substituting the following paragraph for paragraph (e):
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“(e) in relation to any of the following companies or undertakings and in accordance with the following law, namely—
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(i) a limited liability company in the State — in accordance with the Companies Acts, or
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(ii) a company or undertaking (the liability of members of which is limited) in a state other than the State — in accordance with the law of that state,
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to—
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(I) promote and take part in the formation of it,
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(II) acquire, hold or dispose of shares or other interests in its capital, or
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(III) participate in the management or direction of it,
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but only if the objects of the company or undertaking include the carrying on of such business, trading or other activities, as the college thinks fit, for the purpose of promoting or assisting in the performance of, or in connection with, the functions of the college;”,
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and
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(iii) in paragraph (i), by substituting “An tÚdarás” for “the Minister”,
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and
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(b) by deleting subsection (2).
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