Number 11 of 2002

ARRAMARA TEORANTA (ACQUISITION OF SHARES) ACT, 2002

ARRANGEMENT OF SECTIONS

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:

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.