State’s shareholding, Treasurer’s functions as to
41 State’s shareholding, Treasurer’s functions as to
If the Bank is partially privatised the shareholding in the Bank specified under section 8 vests in the Treasurer by force of this section on the day of privatisation.
For the purpose of holding shares in the Bank under this section the Treasurer is a corporation sole with perpetual succession and an official seal.
The Treasurer may exercise any right, power or option attached to ownership of the shares in the Bank vested in him or her.
The Treasurer must not transfer or otherwise dispose of —
the shares that vest in the Treasurer under subsection (1); or
any further shares in the Bank that are taken up under subsection (3); or
any interest in the shares referred to in paragraphs (a) and (b).
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