Section 5 Report on transfer of interest in a Post Office company to a relevant mutualI1

(1)

This section applies where the Secretary of State proposes to make an order under section 4(2) or (3)(b) (order directing or approving issue or transfer of shares or share rights in a Post Office company to a relevant mutual).

(2)

The Secretary of State must lay before Parliament a report on the proposed issue or transfer before making the order.

(3)

The report must—

(a)

give details of the proposed issue or transfer (including the expected time-scale for the issue or transfer),

(b)

name the body to whom shares or share rights are proposed to be issued or transferred, and

(c)

explain how that body meets the conditions set out in section 7.

Annotations

Commencement

I1: S. 5 in force at 1.10.2011 by S.I. 2011/2329, art. 3