Oireachtas Joint and Select Committees
Wednesday, 1 April 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Setanta Insurance Liquidation: Discussion
2:00 pm
Mr. Paul Mercieca:
To comment on what the Deputy has said, there is a requirement under Maltese law that there must be two shareholders in any company. There cannot be just one shareholder. It is very common to have one shareholder holding 99.9% and another holding 0.1% of a company. The one share is probably that arrangement. The shareholdings have now changed to new shareholders. The nominees quoted by the Deputy were subsequently changed.
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