47Establishment of the Northern Ireland Transport Holding Company.N.I.
(1)For the purposes of this Act there shall be a body corporate with perpetual succession to be known as the Northern Ireland Transport Holding Company (in this Act referred to as “the Holding Company” ).
(2)The Holding Company shall consist of a chairman and not more than eight other directors all of whom shall be members thereof and shall be appointed by the Minister.
(3)The chairman and other directors of the Holding Company shall be appointed from among persons who appear to the Minister to have had wide experience of, and to have shown capacity in, transport, industrial, commercial or financial matters or to have other adequate or suitable experience, and the Minister in appointing them shall have regard to the desirability of including among them persons who are directors of, or concerned in the management of, the subsidiaries of the Holding Company.
[F1(3A)Section 18(2) of the Interpretation Act (Northern Ireland) 1954 (c. 33) shall apply to appointments under this section.]
(4)Schedule 1 shall have effect as regards the directors of the Holding Company and its proceedings.
F1S. 47(3A) inserted (16.3.2011) by Transport Act (Northern Ireland) 2011 (c. 11), ss. 41, 48(1)(a)