Postal Services Act 2000 (c. 26)

Part IV U.K. Reorganisation of the Post Office

The Post Office company etc: restrictions on dealings U.K.

65 Restriction on issue of shares to third parties. U.K.

(1) No shares or share rights in the Post Office company shall be issued on or after the appointed day unless—

(a) they are issued to the Treasury, the Secretary of State or any nominee of either of them, or

(b) the issue is one for which prior approval has been given in accordance with section 67.

(2) No shares or share rights in any relevant subsidiary of the Post Office company shall be issued on or after the appointed day unless—

(a) they are issued to the Treasury, the Secretary of State or any nominee of either of them,

(b) they are issued to the Post Office company or any other relevant subsidiary of which the relevant subsidiary concerned is a subsidiary or any nominee of the Post Office company or of the other relevant subsidiary, or

(c) the issue is one for which prior approval has been given in accordance with section 67.