121.Section 79 empowers the Treasury, or the Secretary of State with the Treasury’s consent, to appoint a person to act as their nominee for the purposes of section 63 (government holding in the Post Office company and its subsidiaries), section 64 (government investment in securities of the Post Office company) and section 74(3) and (4) (further provisions relating to the capital structure of the Post Office company). Any nominees shall hold and deal with the securities or debt securities on such terms and manner as directed by the Treasury, or with the consent of the Treasury, the Secretary of State.
Commentary on Sections Part IV Reorganisation of the Post Office Section 79: Exercise of functions through nominees