National Lottery Act, 1986

Special powers of Minister in relation to Company.

30.—(1) If the Minister revokes the licence of the Company, he may by notice in writing given to any person who holds shares in the Company, require the person to assign the shares to the Minister or another specified person before a specified date in consideration of the payment of such sum (if any) by the Minister or other specified person as may be agreed upon by the first-mentioned person and the Minister or, in default of agreement, determined by arbitration pursuant to the Arbitration Act, 1954 .

(2) The Minister may, at any time, if he so thinks fit, appoint a person (in this Act referred to as “a manager”) to take over the management of the Company and to carry on the Company as a going concern.

(3) (a) A manager shall have in relation to the Company all such powers as may be necessary or expedient for or incidental to his functions in relation to the Company, including the sole authority over and direction of all officers and employees of the Company.

(b) The functions of a manager may be performed by him with the assistance of persons appointed or employed by him for that purpose.

(c) All functions which are vested in the directors or in any committee of management of the Company (whether by virtue of the memorandum or articles of association of the Company or by law or otherwise) shall be performable only by the manager and all such powers of the Company as are exercisable by or with the sanction of a general meeting of the members of the Company shall be exercisable only by the manager.

(d) A manager shall hold office upon such terms and conditions (including terms and conditions relating to remuneration) and for such term as may be determined by the Minister from time to time and his appointment may be terminated by the Minister at any time.

(e) A manager shall have all the powers that he would have, and there shall apply in relation to him all the statutory provisions that would so apply, if he were a liquidator appointed by the High Court in respect of the Company and those powers shall be exercisable by him without the control or sanction of the High Court specified in the Companies Acts, 1963 to 1985, in relation to such a liquidator.

(f) (i) The provisions of the Companies Acts, 1963 to 1985, and any instruments made thereunder and, in particular, the provisions of those Acts and instruments relating to the liquidation of companies shall apply and have effect in relation to the powers aforesaid with any modifications specified in an order under subparagraph (ii) of this paragraph and any other necessary modifications.

(ii) (I) Without prejudice to the generality of subparagraph (i) of this paragraph, the Minister may, for the purpose of giving full effect to the application by that subparagraph of the Companies Acts, 1963 to 1985, and any instruments thereunder, by order modify the provisions of the said Acts or any instruments made thereunder or any rules of court relating thereto in their application under and for the purposes of this section if he considers it necessary or appropriate to do so to facilitate the performance of the functions of a manager.

(II) The Minister may by order revoke or amend an order under this subparagraph including this clause.

(4) If a person fails or neglects to comply with a requirement of the Minister in a notice under subsection (1) of this section in relation to shares in the Company, then the shares shall, upon the date specified in the notice under that subsection and without the necessity for a transfer, become and be vested in the Minister or the other person specified in the notice, as may be appropriate, and the sum (if any) agreed to or determined under that subsection shall be paid by the Minister or that other person, as may be appropriate, to the first-mentioned person not later than one month after the date of such agreement or determination.