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Insurance (Miscellaneous Provisions) Act, 1985 (No. 8)Introductory TextActs Referred to1. Definitions.2. Acquisition of shares of Company by Minister.3. Holding and sale by Minister of shares of Company.3A. Minister's discretion to wind up Company.4. Exercise by Minister of right or power exercisable by holder of shares.5. Payment of dividends, etc., into Exchequer.6. Restriction on issue of shares.7. Restriction on alteration of memorandum and articles of association.8. Memorandum and articles of association of Company.9. Obligation to furnish balance sheets etc., to Minister.10. Directors of Company.11. Obligation of shareholders to hold shares in trust for Minister.12. Vesting in Minister upon director's or other member's death, etc., of share held by such director or member.13. Membership of either House of Oireachtas by directors, officers or servants of Company.14. Guarantee by Minister of certain payments by The Insurance Corporation of Ireland, public limited company.15. Provision of moneys for payments out of Central Fund.16. Amendment of sections 2 and 3 of Insurance Act, 1964, and section 2 of Insurance (No. 2) Act, 1983.17. Expenses.18. Short title and collective citation.
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 November 2007 - onwards

3A. Minister's discretion to wind up Company.

(1) If the Minister thinks fit, the Minister may arrange for and require -

(a) that the shares held by the Company in Icarom plc (under administration) be transferred to the Minister, and

(b) the winding up in accordance with the Companies Acts 1963 to 2006 of the Company.

(2) Shares transferred to the Minister under subsection (1) vest in the Minister.

(3) Any assets of the Company remaining after the winding up of the Company shall be paid into or disposed of for the benefit of the Exchequer.

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