BAILII [Home] [Databases] [World Law] [Search] [Feedback]

Northern Irish Legislation

You are here:  BAILII >> Databases >> Northern Irish Legislation >> FISH INDUSTRY ACT (NORTHERN IRELAND) 1972

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


FISH INDUSTRY ACT (NORTHERN IRELAND) 1972 - SECT 9

Acquisition of businesses, etc., in the fish industry.

9.(1) The Ministry, subject to the approval of the Ministry of Finance, may

(a)subscribe for, acquire, hold and dispose of shares in any company, or the
holding company of any company, or in any industrial and provident society,
carrying on a business or enterprise in the fish industry;

(b)acquire, manage and dispose of, all or any part of, any business in the
fish industry.

(2) The Ministry may exercise in respect of any shares of a company or society
held by it under subsection (1)(a) all the rights and powers of a holder of
such shares and, where a right or power is exercisable by attorney or nominee,
exercise it by its attorney or nominee and in respect of any such shares may
do so without prejudice to section 133 of the Companies Act (Northern Ireland)
1960 or to the rules of the society.

(3) For the purpose of compliance with so much of any provision of the
Companies Act (Northern Ireland) 1960 or the Industrial and Provident
Societies Act (Northern Ireland) 1969 as requires that there shall always be a
minimum number of members of a company or society, the Ministry may transfer
to one or more than one nominee shares held by it in a company or society
under subsection (1)(a).

(4) Every such nominee shall hold his share in the company or society upon
trust for the Ministry and shall accordingly be bound to pay all dividends and
other money and hold all rights which he receives in respect of the share to
or for the Ministry for the benefit of the Exchequer and to transfer, as and
when required by the Ministry, the share to the Ministry or another nominee of
the Ministry.

(5) In this section

"a business or enterprise in the fish industry" means a business or enterprise
involving the taking or marketing of fish or a business or enterprise to which
section 1, 2, 3 or 4 applies;

"company" means a company within the meaning of the Companies Act (Northern
Ireland) 1960 and also includes a company to which Part X of that Act applies;

"holding company" has the same meaning as in the Companies Act (Northern
Ireland) 1960;

"industrial and provident society" means a society registered under the
Industrial and Provident Societies Act (Northern Ireland) 1969;

"shares" in relation to a company, includes stock;

S.10 rep. by SLR 1976


[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

© 1972 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/fiai1972341/s9.html