Paragraph 13 I1

(1)

Section 72 (reserves of the Post Office company and its subsidiaries) is amended as follows.

(2)

In the heading, for “the Post Office company and its subsidiaries” substitute “ relevant companies ”.

(3)

In subsection (1)—

(a)

for “the Post Office company”, in the first place, substitute “ a relevant company that does not have a parent company (“the relevant company”) ”, and

(b)

in paragraphs (a), (b) and (c), for “the Post Office company” substitute “ the relevant company ”.

(4)

For subsection (6) substitute—

“(5A)
No direction under this section may be given to, or in respect of, a company that is not wholly owned by the Crown.
(6)
Before giving a direction under this section to a company, the Secretary of State must consult the company.”

Annotations

Commencement

I1: Sch. 12 para. 13 in force at 1.10.2011 by S.I. 2011/2329, art. 3