In short
This law updates previous laws from 1949 and 1954 concerning the acquisition of shares in a company originally named Alginate Industries (Ireland) Limited, now known as Arramara Teoranta. It primarily changes the name of the company in the original law and updates the maximum amount of money that can be spent on acquiring its shares.
What it regulates
- The definition of the "Principal Act" as the Alginate Industries (Ireland) Limited (Acquisition of Shares) Act, 1949.
- The official name of the company, changing it from Alginate Industries (Ireland) Limited to Arramara Teoranta.
- The maximum financial limit for acquiring shares in Arramara Teoranta.
- The collective citation for all related Acts, including this one.
Who it concerns
- Arramara Teoranta (formerly Alginate Industries (Ireland) Limited).
- The Minister for the Marine and Natural Resources.
Key points
- The company "Alginate Industries (Ireland) Limited" is now officially recognized as "Arramara Teoranta," which was incorporated on February 12, 1947, and changed its name on September 20, 1955.
- The "Minister" in this context refers to the Minister for the Marine and Natural Resources.
- The Minister may spend up to €1,200,000 to acquire shares in Arramara Teoranta.
- Each share acquired must be €1 each and purchased at a price not exceeding €1 per share.
📄 Legal text
Arramara Teoranta (Acquisition of Shares) Act, 2002
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Arramara Teoranta (Acquisition of Shares) Act, 2002
Arramara Teoranta (Acquisition of Shares) Act, 2002
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Number 11 of 2002
ARRAMARA TEORANTA (ACQUISITION OF SHARES) ACT, 2002
ARRANGEMENT OF SECTIONS
Section
1.
Definition.
2.
New section 1 of Principal Act.
3.
Amendment of section 2 of Principal Act.
4.
Short title and collective citation.
Acts Referred to
Alginate Industries (Ireland) Limited (Acquisition of Shares) Act, 1949
1949, No. 22
Alginate Industries (Ireland) Limited (Acquisition of Shares) Act, 1954
1954, No. 29
Alginate Industries (Ireland) Limited (Acquisition of Shares) Acts, 1949 and 1954
Number 11 of 2002
ARRAMARA TEORANTA (ACQUISITION OF SHARES) ACT, 2002
AN ACT TO AMEND THE ALGINATE INDUSTRIES (IRELAND) LIMITED (ACQUISITION OF SHARES) ACTS, 1949 AND 1954, AND TO PROVIDE FOR RELATED MATTERS. [10th April, 2002]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
Definition.
1.—In this Act, “Principal Act” means the
Alginate Industries (Ireland) Limited (Acquisition of Shares) Act, 1949
.
New section 1 of Principal Act.
2.—The Principal Act is amended by substituting the following for section 1:
“Definitions.
1.—In this Act—
‘Company’ means Arramara Teoranta, which was incorporated on 12 February 1947 as the Alginate Industries (Ireland) Limited and whose change of name to Arramara Teoranta was registered by the then entitled Registrar of Joint Stock Companies on 20 September 1955;
‘Minister’ means the Minister for the Marine and Natural Resources.”.
Amendment of section 2 of Principal Act.
3.—Section 2 (as amended by the
Alginate Industries (Ireland) Limited (Acquisition of Shares) Act, 1954
) of the Principal Act is amended in subsection (1) by substituting “a sum or sums not exceeding €1,200,000 in the acquisition of shares of €1 each in the Company at a price not exceeding €1 per share” for “a sum or sums not exceeding forty-three thousand pounds in the acquisition of shares of one pound each in the Company at a price not exceeding one pound per share”, and the said subsection (1), as so amended, is set out in the Table to this section.
TABLE
(1) The Minister may expend a sum or sums not exceeding €1,200,000 in the acquisition of shares of €1 each in the Company at a price not exceeding €1 per share.
Short title and collective citation.
4.—(1) This Act may be cited as the Arramara Teoranta (Acquisition of Shares) Act, 2002.
(2) The Alginate Industries (Ireland) Limited (Acquisition of Shares) Acts, 1949 and 1954, and this Act may be cited together as the Arramara Teoranta (Acquisition of Shares) Acts, 1949 to 2002.
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