Postal Services Act 2011

Specific modifications

25 Paragraph 99 (charges and liabilities upon vacation of office by administrator) is to have effect as if—

(a) in sub-paragraph (4), for the words from the beginning to “cessation”, in the first place, there were substituted “A sum falling within sub-paragraph (4A)”,

(b) after that sub-paragraph there were inserted—

“(4A) A sum falls within this sub-paragraph if it is—

(a) a sum payable in respect of a debt or other liability arising out of a contract that was entered into before cessation by the former postal administrator or a predecessor,

(b) a sum that must be repaid by the company in respect of a grant that was made before cessation under section 79 of the Postal Services Act 2011 as is mentioned in subsection (4) of that section,

(c) a sum that must be repaid by the company in respect of a loan made before cessation under that section or that must be paid by the company in respect of interest payable on such a loan,

(d) a sum payable by the company under subsection (5) of section 80 of that Act in respect of an agreement to indemnify made before cessation, or

(e) a sum payable by the company under subsection (5) of section 81 of that Act in respect of a guarantee given before cessation.”, and

(c) in sub-paragraph (5), for “(4)” there were substituted “(4A)(a)”.