{
  "url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012/schedule-6/paragraph-14",
  "json_url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012/schedule-6/paragraph-14.json",
  "legislation": "uksi/2012/688",
  "legislation_title": "The Postal Services Act 2011 (Transfer of Assets) Order 2012",
  "legislation_url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012",
  "path": "schedule/6/paragraph/14",
  "kind": "paragraph",
  "number": "14",
  "heading": null,
  "text": "(1) The excess amount referred to in paragraph 12(b) and 13(b) must be adjusted in accordance with subparagraph (2) if it is £50 million or less as at the Effective Date, and paragraph (3) if it is more than £50 million as at the Effective Date.\n(2) The adjustment must be in accordance with the investment returns achieved on the BlackRock Cash Portfolio, between the Effective Date and the Final Transfer Date, net of management fees and expenses in maintaining the portfolio.\n(3) The adjustment must be in accordance with the change in value of the notional portfolio constructed by the Trustee in accordance with paragraph 7 between the Effective Date and the Final Transfer Date; net of—\n(a) the relevant proportion of the management fees and expenses of maintaining the assets in the notional portfolio; and\n(b) any disinvestment costs reasonably incurred by the Trustee, such that—\nexcess over the Estimated Final Transfer Amount (as at the Final Transfer Date)\n= excess over the Estimated Final Transfer Amount (as at the Effective Date) x\nvalue of notional portfolio at Final Transfer Datevalue of notional portfolio at Effective Date",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 6 para. 14 not in force at made date, see art. 1(2)"
    },
    {
      "type": "I",
      "label": "I2",
      "text": "Sch. 6 para. 14 in force at 1.4.2012 by S.I. 2012/966, arts. 2, 3(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2012/688/schedule/6/paragraph/14",
    "retrieved_at": "2026-10-29T01:38:15.441656+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}