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Index of Amendments

S.C.B.

Amendment Paper as at
Tuesday 14th March 2000

STANDING COMMITTEE B


New Amendments handed in are marked thus *

POSTAL SERVICES BILL

NOTE

The Amendments have been arranged in accordance with the Order of the Committee [22nd February], as follows:—


Clause 1, Schedule 1, Clauses 3 to 5, Clauses 31 to 39, Clause 2, Schedule 2, Clauses 40 to 50, Clauses 6 to 30, Clause 51, Schedule 3, Clauses 52 to 79, Schedules 4 and 5, Clauses 80 to 93, Schedule 6, new Clauses, new Schedules, Clauses 94 to 101, Schedules 7 and 8, Clauses 102 to 105.

   

Mr Alan Johnson

130

Clause     52,     page     29,     line     12,     leave out 'from time to time'.

   

Mr Alan Johnson

131

Clause     52,     page     29,     line     14,     leave out 'so'.

   

Mr Brian Cotter
Mr Colin Breed

122

Clause     52,     page     29,     line     22,     leave out 'relevant'.

   

Mr Brian Cotter
Mr Colin Breed

123

Clause     52,     page     29,     line     23,     leave out 'relevant'.

   

Mr Brian Cotter
Mr Colin Breed

124

Clause     52,     page     29,     line     25,     leave out 'relevant'.

   

Mr Alan Johnson

132

Clause     52,     page     29,     line     26,     after 'section' insert 'without the consent of the Treasury or'.

   

Mr Brian Cotter
Mr Colin Breed

125

Clause     52,     page     29,     line     38,     leave out 'relevant'.

   

Mr Brian Cotter
Mr Colin Breed

126

Clause     52,     page     29,     line     40,     leave out 'relevant'.

   

Mr Brian Cotter
Mr Colin Breed

127

Clause     52,     page     29,     line     41,     leave out 'relevant'.

   

Mr Brian Cotter
Mr Colin Breed

128

Clause     52,     page     29,     line     43,     leave out 'relevant'.

   

Mr Brian Cotter
Mr Colin Breed

129

Clause     52,     page     29,     line     45,     leave out 'and "relevant postal packets" have' and insert 'has'.


   

Mr Alan Johnson

118

Clause     54,     page     30,     line     20,     leave out from 'issued' to 'or' in line 21 and insert 'to the Post Office company or any other relevant subsidiary of which the relevant subsidiary concerned is a subsidiary or any nominee of the Post Office company or of the other relevant subsidiary,'.


   

Mr Bob Laxton
Miss Geraldine Smith

150

*Clause     56,     page     30,     line     43,     at end insert 'which shall not exceed 5 per cent. of the total share capital of the Post Office company'.


   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

22

Clause     57,     page     31,     line     40,     after 'its', insert 'relevant'.

   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

23

Clause     57,     page     31,     line     40,     at end insert—

    '(1A) No loan exceeding £75 million shall be made to the Post Office company or any of its relevant subsidiaries unless—

      (a) the Post Office company or the relevant subsidiary has sought prior approval for the loan from the Secretary of State and the Treasury, and

      (b) the Secretary of State and the Treasury have given their consent to the loan.'.

   

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.'.

   

Mr Alan Johnson

133

Clause     57,     page     32,     line     9,     after 'or' insert ', where the loan is to be'.

   

Mr Alan Johnson

134

Clause     57,     page     32,     line     10,     leave out from 'sterling' to the end of the line and insert ', in that currency or in sterling.'.


   

Mrs Angela Browning
Mr Alan Duncan
Mr Nick Gibb

26

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

   

Mr Alan Johnson

135

Clause     58,     page     32,     line     38,     at end add—

    '( ) Any statement under subsection (4) shall include a statement of—

      (a) any amounts received by the Secretary of State during the financial year concerned in or towards repayment of, or as interest in respect of, sums paid by him in fulfilment of any guarantee given under subsection (1), and

      (b) any amounts outstanding at the end of that year in respect of sums so paid by the Secretary of State.'.


   

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.'.


   

Mr Alan Johnson

136

Clause     61,     page     33,     line     40,     leave out 'from time to time'.


   

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'.

   

Mr Alan Johnson

137

Clause     64,     page     35,     line     24,     after 'of' insert 'Part VII of'.


   

Mr Alan Johnson

138

Clause     66,     page     36,     line     6,     leave out 'or 53' and insert ', 53 or [Further provisions relating to the capital structure of the Post Office company] (3) and (4)'.

   

Mr Alan Johnson

139

Clause     66,     page     36,     line     8,     leave out 'from time to time'.

   

Mr Alan Johnson

140

Clause     66,     page     36,     line     10,     after '52' insert 'or [Further provisions relating to the capital structure of the Post Office company] (3) and (4)'.


   

Mr Alan Johnson

141

Clause     67,     page     36,     line     22,     at end insert—

      ' "debt securities" has the meaning given by section [Further provisions relating to the capital structure of the Post Office company] (8),'.

   

Mr Alan Johnson

142

Clause     67,     page     36,     line     25,     leave out 'debentures, bonds' and insert 'debt securities'.

   

Mr Alan Johnson

143

Clause     67,     page     36,     line     27,     at end insert ', or to acquire,'.

   

Mr Alan Johnson

144

Clause     67,     page     36,     line     28,     at end insert 'and any other rights in connection with such securities'.

 
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Prepared 14 Mar 2000