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Session 1999-2000
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Amendments to the Postal Services Bill

Postal Services Bill -
Amendments to be debated in the House of Lords

Here you can browse the Amendments to the Postal Services Bill to be moved on Third Reading in the House of Lords.

After Clause 67
     Insert the following new Clause-- 
     ("  .--(1)  Where the Post Office company or any relevant subsidiary enters into a notifiable transaction it must, as soon as practicable after the terms of that transaction have been agreed, issue a disclosure notice in accordance with this section.
    (2)  For the purposes of this section "notifiable transaction" means any acquisition or disposal of any undertaking or interest in any undertaking by the Post Office company or any relevant subsidiary which, if the acquisition or disposal was made by a listed company, would be a transaction in respect of which that company would need to give notification or make an announcement in accordance with the listing rules.
    (3)  A disclosure notice must include the same information regarding the transaction to which it relates as any notification or announcement under the listing rules would be required to include if the transaction was an acquisition or disposal which had been made by a listed company.
    (4)  A disclosure notice shall--
    (a)  be published in the London Gazette, the Edinburgh Gazette and the Belfast Gazette; and
    (b)  be published or disseminated in any other manner as the Secretary of State may prescribe.
    (5)  In this section--
    listed company" means a company any class of whose securities have been admitted to the official list; and
    listing rules" and "official list" have the same meaning as in Part VI of the Financial Services and Markets Act 2000.")
Notifiable transactions.
Clause 105
     Page 63, line 47, at end insert--
    ("(6)  The power to make regulations under this section shall be exercisable by statutory instrument.
    (7)  No regulations shall be made under this section unless--
    (a)  a draft of the regulations has been laid before the House of Commons together with a reasoned statement from the Treasury confirming that, in its opinion, the regulations, if made, would not distort competition in the provision of postal services; and
    (b)  the draft regulations are approved by resolution of that House.")
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