Chwilio Deddfwriaeth

Postal Services Act 2000

Postal Services Act 2000

2000 CHAPTER 26

Commentary on Sections

Part IV Reorganisation of the Post Office

Section 66: Restriction on disposals of shares to third parties

97.Section 66 prohibits the Treasury and the Secretary of State (or any nominee) disposing of shares or share rights in the Post Office company (or any relevant subsidiary) other than to each other, as permitted by subsection (3). However, the prohibition does not apply if the prior approval of Parliament has been obtained in accordance with section 67. This follows the policy, set out in the Government’s White Paper (Post Office Reform, cmnd 4340), that after transformation to a Companies Act company, the Post Office company would remain Government-owned and shares would only be exchanged or sold in order to cement commercial strategic alliances.

98.Subsection (2) prohibits the Post Office company or any of its subsidiaries (or their nominees) disposing of shares or share rights in any relevant subsidiary (as defined in section 63), though subsection (4) permits their disposal to the company or another subsidiary (or their nominees). Again, in accordance with subsection (5), the prohibition does not apply if Parliamentary approval has been obtained under the procedure in section 67.

Yn ôl i’r brig


Print Options


Nodiadau Esboniadol

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.


Rhagor o Adnoddau

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • y PDF print gwreiddiol y fel deddfwyd fersiwn a ddefnyddiwyd am y copi print
  • rhestr o newidiadau a wnaed gan a/neu yn effeithio ar yr eitem hon o ddeddfwriaeth
  • manylion rhoi grym a newid cyffredinol
  • pob fformat o’r holl ddogfennau cysylltiedig
  • slipiau cywiro
  • dolenni i ddeddfwriaeth gysylltiedig ac adnoddau gwybodaeth eraill