38Dividends

38 Dividends

S. 38(1) repealed by No. 11/2024 s. 35(1).

S. 38(2) inserted by No. 53/1994 s. 11(11), amended by Nos 110/1994 s. 10(b), 56/1995 s. 8(8)(a)(b), 35/1997 s. 19(f).

(2) Each public distribution company, public transmission company and public generation company must pay out of profits such amounts, at such times and in such manner, as are determined by the Treasurer after consultation with the board of the company and the Minister.

S. 38(3) inserted by No. 56/1995 s. 8(9), amended by No. 35/1997 s. 19(f).

(3) A public distribution company, public transmission company or public generation company must pay the amount referred to in subsection (2)—

(a) to the State; or

S. 38(3)(b) amended by No. 11/2024 s. 35(2).

(b) if a statutory authority holds shares in the company, to the authority—

in accordance with the direction of the Treasurer.

Ss 39–41 repealed by No. 31/1994 s. 4(Sch. 2 item 26).

Pt 2A (Heading and ss 41A–41M) inserted by No. 53/1994 s. 12, amended by Nos 110/1994 ss 10(c), 33(2), 42/1995 s. 224(Sch. 2 items 13.1, 13.2) (as amended by No. 79/1995 s. 37), 56/1995 s. 8(10), 35/1997 ss 5, 6, 10/1998 s. 5(1)(g), 46/1998 s. 7(Sch. 1), substituted as Pt 2A (Heading and s. 41A) by No. 36/1999 s. 18, repealed by No. 69/2000 s. 7.