Postal Services Act 2000

73 Statutory accounts of [F1 the original holding company]. U.K.

(1) For the purposes of any statutory accounts of [F1 the original holding company]—

(a) the transfer effected by virtue of section 62 shall be taken to have been a transfer of all the property, rights and liabilities to which the Post Office was entitled or subject immediately before the end of the last accounting year of the Post Office ending before the appointed day and to have been effected immediately after the end of that year, and

(b) the value or amount (as at the time of transfer) of any asset or liability of the Post Office taken to have been transferred to [F1 the original holding company] by virtue of paragraph (a) shall be taken to be the value or (as the case may be) the amount assigned to that asset or liability for the purposes of the corresponding statement of accounts prepared by the Post Office in relation to that year.

(2) For the purposes of any statutory accounts of [F1 the original holding company] the amount to be included in respect of any item shall be determined as if anything done by the Post Office (whether by way of acquiring, revaluing or disposing of any asset or incurring, revaluing or discharging any liability, or by carrying any amount to any provision or reserve, or otherwise) had been done by [F1 the original holding company].

(3) Accordingly (but without prejudice to the generality of subsection (2))—

(a) the amount to be included from time to time in any reserves of [F1 the original holding company] as representing its accumulated realised profits shall be determined as if any profits realised and retained by the Post Office had been realised and retained by [F1 the original holding company], and

(b) the amount to be included from time to time in any statutory accounts of [F1 the original holding company] as representing its accumulated realised losses shall be determined as if any losses realised by the Post Office had been realised by [F1 the original holding company].

(4) In this section “statutory accounts”, in relation to [F1 the original holding company], means any accounts of that company prepared for the purposes of any provision of [F2 the Companies Act 2006] (including group accounts).

Textual Amendments

F1 Words in s. 73 substituted (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 12 para. 14; S.I. 2011/2329, art. 3

F2 Words in s. 73(4) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 216 (with arts. 6, 11, 12)