Companies Act, 1990
|
Exempt transactions. |
110.—(1) Nothing in section 108 shall prevent a person from— | |
(a) acquiring securities under a will or on the intestacy of another person; or | ||
(b) acquiring securities in a company pursuant to an employee profit sharing scheme— | ||
(i) approved by the Revenue Commissioners for the purposes of the Finance Acts, and | ||
(ii) the terms of which were approved by the company in general meeting, and | ||
(iii) under which all permanent employees of the company are offered the opportunity to participate on equal terms relative to specified objective criteria; | ||
(c) entering in good faith into a transaction to which subsection (2) applies. | ||
(2) This subsection applies to the following kinds of transactions— | ||
(a) the obtaining by a director of a share qualification under section 180 of the Principal Act; | ||
(b) a transaction entered into by a person in accordance with his obligations under an underwriting agreement; | ||
(c) a transaction entered into by a personal representative of a deceased person, a trustee, or liquidator, receiver or examiner in the performance of the functions of his office; or | ||
(d) a transaction by way of, or arising out of, a mortgage of or charge on securities or a mortgage, charge, pledge or lien on documents of title to securities. | ||
(3) This Part shall not apply to transactions entered into in pursuit of monetary, exchange rate, national debt management or foreign exchange reserve policies by any Minister of the Government or the Central Bank, or by any person on their behalf. |