95.Section 64 empowers the Treasury or the Secretary of State (with Treasury consent) to acquire any securities issued by the Post Office company or any of its subsidiaries. The Secretary of State can only dispose of such securities with the consent of the Treasury. The Secretary of State does not require the consent of the Treasury for disposals permitted under section 67 nor for a disposal to the Treasury or the Treasury’s nominee. Section 79 has the effect that nominees may be appointed by the Treasury or the Secretary of State for the purpose of this section.
Commentary on Sections Part IV Reorganisation of the Post Office Section 64: Government investment in securities of the Post Office company and its subsidiaries