: We are dealing with section 23. The amendments have been dealt with.
SECTION 23.
Question proposed: "That section 23 stand part of the Bill."
(Limerick East): Perhaps the Minister could read the explanatory memorandum so that we can adjust ourselves to the business in question.
: Section 36 of the Companies Act, 1963 requires that a private company shall always have at least two members. The section allows the Minister for Finance to transfer one of his shares to another person in order to maintain the number of shareholders at two. As the Minister for Transport, Energy and Communications will be a shareholder, it seems there is little need for this provision. However, it is included in case the portfolios of the Minister for Finance and the Minister for Transport, Energy and Communications might be combined and the Companies Act, 1963 might be amended to increase the minimum number of members of a private company.
Subsection (2) is in line with section 20 (4) and is intended to ensure that the Irish Aviation Authority cannot pass to public ownership without amending legislation by the Oireachtas. This is appropriate because of the regulatory functions of the authority and its power to make orders and regulations which have the force of law.
Question put and agreed to.
Sections 24 to 26, inclusive, agreed to.