Search Legislation

Post Office Act 1969

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 41

 Help about opening options

Version Superseded: 26/03/2001

Alternative versions:

Status:

Point in time view as at 01/02/1991. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Post Office Act 1969, Section 41. Help about Changes to Legislation

41 The Post Office’s liabilities as banker to be matched by cash and liquid assets.U.K.

So long as the Post Office provides, in exercise of the power conferred on it by virtue of section 7(1)(b) of this Act, a banking service, it shall be its duty to secure that, at every point of time in any period,—

(a)such proportion of the aggregate of the sums owed at that point of time by it to persons in the capacity of customers of its with reference to that service as has previously been determined, in relation to that period, by it with the approval of the Treasury, is matched by assets of its of one or more of the classes specified in Part I of Schedule 2 to this Act; and

(b)the residue of that aggregate is matched by assets of its of one or more of the classes specified in Part II of that Schedule.

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?