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(1)Neither the Post Office nor any of its wholly owned subsidiaries shall, except with the approval of the Secretary of State, construct, manufacture, produce or purchase, otherwise than for the relevant purpose, things of any kind to a substantial extent.
(2)The Secretary of State—
(a)may give approval for the purposes of subsection (1) subject to such conditions (if any) as he may think fit; and
(b)notwithstanding the giving of approval, may at any time, after consultation with the Post Office, direct it to discontinue or, as the case may be, to exercise its control over any of its wholly owned subsidiaries so as to require the subsidiary to discontinue, any activity that the Post Office or, as the case may be, the subsidiary is carrying on with approval.
(3)The Secretary of State shall publish, in such manner as he thinks fit, particulars of any approval given by him under subsection (1).
(4)In carrying on any activities to which subsection (1) applies, the Post Office shall act as if it were a company engaged m a commercial enterprise, and it shall so exercise its control over each of its wholly owned subsidiaries that carries on any such activities as to ensure that the subsidiary so acts.
(5)In this section " the relevant purpose " has the same meaning as in section 63.
(6)This section shall come into operation on the appointed day.
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