Land Development Agency Act 2021
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PART 3 Funding of Agency | ||
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Share capital of Agency | ||
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25. (1) The Minister and the Minister for Public Expenditure and Reform shall subscribe to the constitution of the Agency. | ||
(2) The Agency shall on being formed and registered in accordance with section 12 allot and issue to— | ||
(a) the Minister, shares with a total nominal value of €1,000,000, and | ||
(b) the Minister for Public Expenditure and Reform, shares with a total nominal value of €99,000,000. | ||
(3) The Agency may, from time to time, with the prior consent of the Minister, allot and issue to the Minister for Public Expenditure and Reform such number of shares as may be agreed upon, and are subscribed for, by that Minister of the Government. | ||
(4) The whole of the issued share capital of the Agency shall be held by the Minister and the Minister for Public Expenditure and Reform. | ||
(5) In this section, “issue”, in relation to a share in the Agency, means the entry of the name of the person to whom the share is allotted in the register of members of the Agency. |