Public Trust Corporation Act 1995 · Updated to 1 Sep 2010 · Part II · Formation and Ownership of the Corporation and Vesting Provisions
9. Minister of Finance to hold shares
Feedback & support(1)
The Minister of Finance shall not—
Minister
Defined · s 2
“Minister” means the Minister charged with the responsibility for the administration of trusts and estates; *
(a)
sell or otherwise dispose of any shares in the Corporation held by him to any person; or
(b)
permit shares in the Corporation to be allotted to any person.
(2)
Nothing in subsection (1) shall apply to redeemable preference shares that—
(a)
are not convertible into shares of any other class; and
(b)
do not confer any rights to vote at any general meeting of the Corporation.