Part 1

Restructuring of Royal Mail group

Interpretation

Part 1: general interpretation
15
1
In this Part—
- “agreement” means agreement in writing,
- “company” means any body corporate,
- “debt securities” means any instrument creating or acknowledging indebtedness which is issued by a company (including, in particular, debentures, loan stock, bonds and certificates of deposit),
- “the original holding company” means the company that was nominated under section 62 of the Postal Services Act 2000 (transfer of property etc to nominated company),
- “post office” means any premises or vehicle in the United Kingdom from which postal services, or services provided under arrangements with a government department, are provided directly to the public,
- “Post Office company” has the meaning given by section 6,
- “relevant disposal” has the meaning given by section 2,
- “Royal Mail company” has the meaning given by section 2,
- “securities”, in relation to a company, includes—
  1. shares, debt securities and other securities of the company (whether or not constituting a charge on the assets of the company), and
  2. the right to subscribe for, or acquire, such securities and any other rights in connection with such securities,
- “shares” include stock,
- “share rights”, in relation to any shares, means—
  1. rights to subscribe for or acquire the shares, and
  2. any other rights in connection with the shares,
- “subsidiary” has the meaning given by section 1159 of the Companies Act 2006, and
- “wholly owned by the Crown”, in relation to a company, means the Crown owns all of it.
2
In this Part references to a person providing a universal postal service have the same meaning as in Part 3 (see section 65(2) and (3)).
3
In this Part references to a company's post offices (or network of post offices) are to those post offices (whether or not owned or operated by the company) that the company is engaged in providing.
4
For the purposes of this Part (other than Schedule 2) a company is to be regarded as being in the same “group” as another company if, for the purposes of section 1161(5) of the Companies Act 2006, the company is a group undertaking in relation to that other company.
S. 15 in force at 1.10.2011 by S.I. 2011/2329, art. 3