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.