Part VIIU.K. Miscellaneous and supplementary

Valid from 28/09/2000

OtherU.K.

115 Extension of existing powers relating to the Post Office.U.K.

(1)In section 7(2) of the M1Post Office Act 1969 (powers of the Post Office) after paragraph (r) there shall be inserted—

(s)to enter into any form of financial transaction which it considers to be expedient and which does not fall within any of the preceding paragraphs;.

(2)After section 37(1) of that Act (loans by the Secretary of State to the Post Office) there shall be inserted—

(1A)The Secretary of State may, with the approval of the Treasury, make loans to any subsidiary of the Post Office.

(3)After section 37(2) of that Act there shall be inserted—

(2A)The power of the Secretary of State to make loans under this section includes power to make loans in currencies other than sterling.

(4)After section 37(3) of that Act (power to issue sums out of the National Loans Fund) there shall be inserted—

(3A)Such sums may be issued in sterling or, where the loan is to be in a currency other than sterling, in that currency or in sterling.

(5)In section 73 of the M2British Telecommunications Act 1981 (borrowing powers of the Post Office etc), in subsection (1)(a) and (2)(a), after “sterling” there shall, in each case, be inserted “ or a currency other than sterling ”.

(6)In section 74(2) of that Act (limit of indebtedness of the Post Office and its subsidiaries)—

(a)after sub-paragraph (i) there shall be inserted—

(ia)money borrowed by any other subsidiary of the Post Office under section 37(1A) of the 1969 Act;,

(b)for “£1,200 million” there shall be substituted “ £5,000 million ”, and

(c)the words “, not exceeding £1,700 million,” shall be repealed.

(7)After section 74(4) of that Act there shall be inserted—

(4A)For the purposes of this section equivalents in sterling shall be calculated as the Secretary of State considers appropriate.

Marginal Citations

Valid from 06/11/2000

118 Supplementary provisions relating to the Council.U.K.

(1)On such day as the Secretary of State may by order appoint (“the relevant day”), all the property, rights and liabilities to which the Post Office Users’ National Council was entitled or subject immediately before that day shall become by virtue of this section property, rights and liabilities of the Council.

(2)An order made under subsection (1) may be varied or revoked by a subsequent order at any time before any property, rights or liabilities of the Post Office Users’ National Council vest in the Council by virtue of this section.

(3)Paragraphs 1 and 7 of Schedule 3 apply for the purposes of this section as they apply for the purposes of section 62 with such modifications as are necessary (including the substitution for references to the Post Office and the Post Office company of references to the Post Office Users’ National Council and the Council respectively).

(4)Where a person employed in the civil service of the state and seconded to the Post Office Users’ National Council or a Country Council immediately before the relevant day becomes an employee of the Council on that day, his period of employment in the civil service of the state (including any part of that period spent otherwise than on secondment) counts as a period of employment with the Council for the purposes of the M3Employment Rights Act 1996 (and the change of employer does not affect the continuity of the period of employment for those purposes).

(5)Where a person who—

(a)is employed in the civil service of the state and is seconded to the Council, and

(b)immediately before his secondment to the Council was seconded to the Post Office Users’ National Council or a Country Council,

becomes an employee of the Council, his period of employment in the civil service of the state (including any part of that period spent otherwise than on secondment) counts as a period of employment with the Council for the purposes of the M4Employment Rights Act 1996 (and the change of employer does not affect the continuity of the period of employment for those purposes).

(6)In this section “Country Council” means the Post Office Users’ Council for Scotland, the Post Office Users’ Council for Wales or the Post Office Users’ Council for Northern Ireland.

Marginal Citations