Amendments proposed to the Postal Services Bill - continued House of Commons

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Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

24

Clause     57,     page     31,     line     42,     leave out from 'section' to end of line 43 and insert 'at 0.5 per cent. per annum above the lowest of the standard rates described in subsection (2A).'.

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

25

Clause     57,     page     31,     line     43,     at end insert—

    '(2A) For the purposes of subsection (2), the standard rates are the rates (expressed as an annual percentage rate) at which three of the reference banks are offering Sterling deposits in comparable amounts for comparable periods to leading banks in the London interbank market at or about 11.00 a.m. (London time) on a day within a calendar month before the day on which the loan is proposed to be made.

    (2B) If the Secretary of State determines that adequate and reasonable means do not exist for ascertaining the standard rates described in subsection (2A), interest shall be paid or loans made by the Secretary of State under this section at the annual rate equal to the average cost to three of the reference banks of funding the loan by whatever means the reference banks determine to be most appropriate plus a further 2 per cent.

    (2C) For the purpose of subsections (2A) and (2B) the reference banks are three of the seven largest institutions authorised under the Banking Act 1987 and incorporated in and carrying on deposit-taking business in the United Kingdom.

    (2D) The size of an institution is to be determined by reference to its total consolidated gross assets denominated in sterling, as shown in its last published audited end-year accounts.'.


   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

26

Clause     58,     page     32,     line     17,     after 'its', insert 'relevant'.


   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

27

Clause     59,     page     32,     line     41,     after 'its', insert 'relevant'.


   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

28

Clause     60,     page     33,     line     14,     after 'its', insert 'relevant'.

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

29

Clause     60,     page     33,     line     14,     leave out'£5,000' and insert '£1,200'.

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

30

Clause     60,     page     33,     line     15,     after 'sum', insert ', not exceeding £1,700 million.'.


   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

31

Clause     64,     page     35,     line     20,     at end insert—

    '(2A) The Post Office company shall during each of the first five years following the appointed day send to the Secretary of State a report identifying disposals of property for an amount in excess of £1 million and disposals of property for an amount less than £1 million where the total of the amounts of disposals of property for an amount less than £1 million for any financial year exceeds £1 million as soon as practicable after the end of the financial year in which the disposals were made'.


   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

33

Clause     86,     page     48,     line     4,     leave out from 'require' to 'to' in line 5 and insert 'a universal service provider or any licence holder under Part II who is not a universal service provider'.

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

34

Clause     86,     page     48,     line     14,     at end insert—

      '(f) require a universal service provider to keep separate accounts for each of the postal services which may not be provided unless he is a licence holder under Part II and any other postal services, and the accounts for any other postal services shall clearly distinguish between services which are part of a universal postal service and services which are not,

      (g) prohibit cross-subsidies by a universal service provider between the postal services which may not be provided unless he is a licence holder under Part II and any other postal services which are not part of a universal postal service.'.


   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

35

Clause     91,     page     49,     line     38,     after 'any', insert 'relevant'.

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

36

Clause     91,     page     49,     line     38,     at end insert—

    '(1B) In this section "relevant subsidiary" has the same meaning as in section 52 of the Postal Services Act 2000.'.

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

37

Clause     91,     page     50,     line     7,     after 'other', insert 'relevant'.

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

38

Clause     91,     page     50,     leave out lines 10 and 11.

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

39

Clause     91,     page     50,     line     11,     at end add—

    '(7) After section 74(2) of that Act there shall be inserted—

      "(2A) In this section 'relevant subsidiary' has the same meaning as in section 52 of the Postal Services Act 2000.".'.


NEW CLAUSES

Restrictions on use of sums from the disposal of property

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

NC1

To move the following Clause:—

    '.—The Post Office company shall not use sums from the disposal of property transferred under section 51(1) for the purpose of subscription for, or acquisition of, securities of an incorporated company or other body corporate, promotion of the formation of an incorporated company or participation in the promotion of such a company or acquisition of an undertaking or part of an undertaking.'.


Reasonable excuse: meaning

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

NC2

To move the following Clause:—

    '.—In sections 68 and 69 reasonable excuse includes intentionally delaying or opening a postal packet in the course of its transmission by post—

      (a) pursuant to a request from any constable or the Commissioners of Customs and Excise, or

      (b) if a person reasonably suspects that the postal packet contains goods which may be illegal.'.


 
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