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Minister’s power to transfer shares to nominee.
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8.— (1) The Minister may at any time transfer some or all of the shares that he or she holds in Anglo Irish Bank to a nominee of the Minister specified by the Minister from time to time.
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(2) A nominee of the Minister holds shares transferred to him or her on such terms as the Minister specifies, having regard to the public interest and regulatory requirements.
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(3) The Minister’s nominee shall not transfer any such share other than to the Minister or another nominee of the Minister.
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(4) The Minister’s nominee may exercise all of the Minister’s functions in relation to Anglo Irish Bank, being functions expressed to be exercisable by the Minister’s nominee.
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(5) The Minister may by order confer on a nominee of the Minister any other function of the Minister under this Act.
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(6) Notice of the making of an order under subsection (5) shall be published as soon as is practicable in Iris Oifigiúil.
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(7) The nominee specified by the Minister under subsection (1) may be the National Treasury Management Agency and, if so, the functions of that Agency are to be taken to include that of acting as a nominee of the Minister for the purposes of this Act.
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