Postal Services Bill (HL Bill 70)

(5) Sub-paragraph (3) has effect where shares in a subsidiary of the old
company are transferred as if the reference to the terms on which that
company is entitled or subject to anything to which the transfer relates
included a reference to the terms on which the subsidiary is entitled or
40subject to anything immediately before the transfer takes effect.

Dividing and modifying the old company’s property, rights and liabilities

7 (1) A postal transfer scheme may contain provision—