| Amendments proposed to the Postal Services Bill - continued | House of Commons |
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Mrs Angela Browning 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 26 Clause 58, page 32, line 17, after 'its', insert 'relevant'.
Mrs Angela Browning 27 Clause 59, page 32, line 41, after 'its', insert 'relevant'.
Mrs Angela Browning 28 Clause 60, page 33, line 14, after 'its', insert 'relevant'.
Mrs Angela Browning 29 Clause 60, page 33, line 14, leave out'£5,000' and insert '£1,200'.
Mrs Angela Browning 30 Clause 60, page 33, line 15, after 'sum', insert ', not exceeding £1,700 million.'.
Mrs Angela Browning 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 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 34 Clause 86, page 48, line 14, at end insert—
Mrs Angela Browning 35 Clause 91, page 49, line 38, after 'any', insert 'relevant'.
Mrs Angela Browning 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 37 Clause 91, page 50, line 7, after 'other', insert 'relevant'.
Mrs Angela Browning 38 Clause 91, page 50, leave out lines 10 and 11.
Mrs Angela Browning 39 Clause 91, page 50, line 11, at end add—'(7) After section 74(2) of that Act there shall be inserted—
NEW CLAUSESRestrictions on use of sums from the disposal of property
Mrs Angela Browning 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 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—
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