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Changes over time for: Section 71


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 01/10/2011
Status:
Point in time view as at 01/04/2008. This version of this provision has been superseded.

Status
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Changes to legislation:
There are currently no known outstanding effects for the Postal Services Act 2000, Section 71.

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71 Limit on loans and other arrangements with government.U.K.
This
adran has no associated
Nodiadau Esboniadol
(1)The Secretary of State and the Treasury shall exercise their powers under or by virtue of this Act so as to ensure that, on and after the appointed day, the Crown’s financial arrangements with the Post Office company and any of its subsidiaries do not at any time exceed £5,000 million or such greater sum as the Secretary of State may by order specify.
(2)For the purposes of subsection (1) the Crown’s financial arrangements with the Post Office company and any of its subsidiaries are the aggregate of—
(a)amounts outstanding in respect of the principal of loans made under section 37 of the Post Office Act 1969,
(b)amounts outstanding (otherwise than by way of interest) in respect of sums paid by the Treasury in fulfilment of guarantees given under section 38 of that Act,
(c)amounts outstanding in respect of the principal of loans made under section 68 of this Act,
(d)amounts outstanding (otherwise than by way of interest) in respect of sums paid by the Secretary of State in fulfilment of guarantees given under section 69 of this Act,
(e)amounts outstanding in respect of the principal of debt securities issued in pursuance of section 63 of this Act, and
(f)liabilities extinguished under section 70 of this Act so far as they are not replaced with corresponding liabilities.
(3)No order shall be made under subsection (1) unless a draft of it has been approved by a resolution of the House of Commons.
(4)For the purposes of this section equivalents in sterling shall be calculated as the Secretary of State considers appropriate.
Yn ôl i’r brig