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Ireland

Nítrigin Éireann Teoranta Act, 1981

In short

This law amends and extends previous Nítrigin Éireann Teoranta Acts, specifically concerning the company's finances and the Minister for Finance's involvement. It primarily increases the company's share capital and the amount the Minister can guarantee for the company's borrowings.

What it regulates

  • The total share capital of Nítrigin Éireann Teoranta.
  • The ability of the Minister for Finance to acquire shares in the company.
  • The maximum amount the Minister can guarantee for the company's borrowings.
  • The classification and rights attached to the company's shares.

Who it concerns

  • Nítrigin Éireann Teoranta (the Company).
  • The Minister for Finance.
  • The Minister for Industry, Commerce and Tourism.

Key points

  • The share capital of Nítrigin Éireann Teoranta is set at £77,500,000, divided into 77,500,000 shares of £1 each.
  • The Minister for Finance may acquire shares in the Company up to an aggregate amount not exceeding £77,500,000.
  • The Minister can guarantee borrowings by the Company, but the total amount of principal liable to be paid on such guarantees cannot exceed £150,000,000.
  • The Company can divide its shares into different classes with various rights, privileges, or conditions, with the consent of the Minister for Finance.
Legal text
Legal text

Nítrigin Éireann Teoranta Act, 1981 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.

  1. ie)Translations (Houses of the Oireachtas) Government Publications for Sale EU Law (EUR-Lex) FAQ Disclaimer Feedback Helpdesk Search Baile Reachtaíocht Achtanna an Oireachtais Ionstraimí Reachtúla Reachtaíocht Réamh-1922 Bunreacht Acmhainní Seachtracha Billí (Tithe an Oireachtais) Iris Oifigiúil Achtanna Athbhreithnithe (CAD) (An Coimisiún um Athchóiriú an Dlí) Liosta Rangaithe Reachtaíochta Aistriúcháin (achtanna.
  2. ie)Aistriúcháin (Tithe an Oireachtais) Foilseacháin Rialtais ar Díol Dlí AE (EUR-Lex) CCanna (Ceisteanna Coitianta) Séanadh Aiseolas Deasc chabhrach Cuardach TitleTeideal Year(
  3. s)or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 1981 Nítrigin Éireann Teoranta Act, 1981 Nítrigin Éireann Teoranta Act, 1981 Permanent Page URL View by SectionAmharc de réir Ailt View Full ActAmharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Print Full ActPriontáil an tAcht Iomlán Number 12 of 1981 NÍTRIGIN ÉIREANN TEORANTA ACT, 1981 ARRANGEMENT OF SECTIONS Section 1. Definitions. 2. Increase in share capital of Company. 3. Acquisition of shares by Minister for Finance. 4. Guarantee by Minister of borrowings by Company. 5. Short title and collective citation. Acts Referred to Nítrigin Éireann Teoranta Act, 1963 1963, No. 2 Nítrigin Éireann Teoranta Act, 1975 1975, No. 24 Nítrigin Éireann Teoranta Act, 1977 1977, No. 35 Nítrigin Éireann Teoranta Acts, 1963 to 1977 Nítrigin Éireann Teoranta Acts, 1963 to 1981 Number 12 of 1981 NÍTRIGIN ÉIREANN TEORANTA ACT, 1981 AN ACT TO AMEND AND EXTEND THE NÍTRIGIN ÉIREANN TEORANTA ACTS, 1963 TO 1977. [25th May, 1981] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: Definitions. 1.—In this Act— “the Company” means Nítrigin Éireann Teoranta; “the Minister” means the Minister for Industry, Commerce and Tourism; “the Principal Act” means the Nítrigin Éireann Teoranta Act, 1963 . Increase in share capital of Company. 2.—Notwithstanding anything in the Nítrigin Éireann Teoranta Acts, 1963 to 1977, the memorandum of the Company or the articles of association of the Company, the amount of the share capital of the Company shall be £77,500,000 divided into 77,500,000 shares of £1 each, and the Company may, with the consent of the Minister for Finance, divide the shares in the capital of the Company into several classes and attach thereto respectively any preferential, deferred, qualified or special rights, privileges or conditions. Acquisition of shares by Minister for Finance. 3.—The following section is hereby substituted for section 2 of the Principal Act (inserted by the Nítrigin Éireann Teoranta Act, 1975 ): “2. The Minister for Finance may, after consultation with the Minister, from time to time take up by subscription or purchase from the holder shares of the Company of any class or classes to an amount not exceeding in the aggregate £77,500,000.”. Guarantee by Minister of borrowings by Company. 4.—Section 7 of the Principal Act is hereby amended by the substitution in subsection

(2)of “£150,000,000” for “£100,000,000” (inserted by the Nítrigin Éireann Teoranta Act, 1977 ) and that subsection as so amended is set out in the Table to this section. TABLE
(2)The Minister shall not so exercise the powers conferred by subsection
(1)of this section that the amount, or the aggregate amount, of principal which he may at any one time be liable to pay on foot of any guarantee or guarantees under that subsection for the time being in force together with the amount of principal (if any) which the Minister has previously paid on foot of any such guarantees and which has not been repaid by the Company, exceeds £150,000,000. Short title and collective citation. 5.—
(1)This Act may be cited as the Nítrigin Éireann Teoranta Act, 1981.
(2)The Nítrigin Éireann Teoranta Acts, 1963 to 1977, and this Act may be cited together as the Nítrigin Éireann Teoranta Acts, 1963 to 1981. Privacy Statement Accessibility European Legislation Identifier (PDF) Open Data License Ráiteas Príobháideachais Inrochtaineacht Aitheantóir Eorpach Reachtaíochta (ELI) Ceadúnas Sonraí Oscailte Liosta Fianán © Government of Ireland. Oireachtas Copyright Material is reproduced with the permission of the Houses of the Oireachtas © Rialtas na hÉireann. Atáirgtear ábhar faoi Chóipcheart le cead ó Thithe an Oireachtais

AI explanation based on the official legal text. Indicative, not a substitute for legal advice.