13(1)Section 72 (reserves of the Post Office company and its subsidiaries) is amended as follows.U.K.
(2)In the heading, for “the Post Office company and its subsidiaries” substitute “ relevant companies ”.
(3)In subsection (1)—
(a)for “the Post Office company”, in the first place, substitute “ a relevant company that does not have a parent company (“the relevant company”) ”, and
(b)in paragraphs (a), (b) and (c), for “the Post Office company” substitute “ the relevant company ”.
(4)For subsection (6) substitute—
“(5A)No direction under this section may be given to, or in respect of, a company that is not wholly owned by the Crown.
(6)Before giving a direction under this section to a company, the Secretary of State must consult the company.”
Commencement Information
I1Sch. 12 para. 13 in force at 1.10.2011 by S.I. 2011/2329, art. 3