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Postal Services Act 2000

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This is the original version (as it was originally enacted).

66Restriction on disposals of shares to third parties

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(1)Neither the Treasury nor the Secretary of State nor any nominee of either of them shall, on or after the appointed day, dispose of any of the issued shares or any share rights in the Post Office company or any relevant subsidiary which are held by him.

(2)Neither the Post Office company nor any subsidiary of that company nor any nominee of the company or subsidiary shall, on or after the appointed day, dispose of any of the issued shares or any share rights in a relevant subsidiary which are held by the company, subsidiary or nominee concerned.

(3)Subsection (1) does not apply in relation to any disposal by the Treasury, the Secretary of State or a nominee of either of them to any other person falling within this subsection.

(4)Subsection (2) does not apply in relation to any disposal by the Post Office company, any subsidiary of that company or any nominee of the company or subsidiary to any other person falling within this subsection.

(5)Subsections (1) and (2) do not apply in relation to any disposal for which prior approval has been given in accordance with section 67.

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