(3) The report must—
(a) give details of the proposed issue or transfer (including the expected
time-scale for the issue or transfer),
(b) name the body to whom shares or share rights are proposed to be
issued or transferred, and
(c) explain how that body meets the conditions set out in section 7.
6 Meaning of “Post Office company”
(1) In this Part “Post Office company” means a company that—
(a) is engaged in the provision of post offices,
(b) is or has at any time been—
(i) a subsidiary of the original holding company, or
(ii) in the same group as a company that is or (as the case may be)
was at that time designated under this section, and
(c) is designated for the purposes of this subsection by order made by the
Secretary of State.
(2) A company may be designated only if, immediately before it is designated, it
is wholly owned by the Crown.
(3) An order under subsection (1) may not be amended or revoked.
(4) An order under section 93 that appoints a day for the commencement of section
1 (removal of restrictions on ownership of Royal Mail Holdings plc etc) may
not be made unless Post Office Limited (registered number 02154540) has been
designated under subsection (1).
7 Meaning of “relevant mutual”
(1) In section 4 “relevant mutual” means a body in respect of which the Secretary
of State considers that conditions A to C are (and will continue to be) met.
(2) Condition A is that the purpose (or main purpose) for which the body exists is
to act for the public benefit by promoting the use by the public of services
provided by a Post Office company or at its post offices.
(3) Condition B is that the members of the body are—
(a) persons who have an interest in the use by the public of such services
(including employees of the Post Office company and other persons
engaged in the provision of its post offices), or
(b) persons who act on behalf of, or represent, persons within paragraph
(a).
(4) Condition C is that the body has in place arrangements for the prevention of
disposals of property or rights by the Post Office company that would be
inconsistent with the purpose (or main purpose) for which the body exists.
Transfer of property etc
8 Transfer schemes
(1) The Secretary of State, or the original holding company (if it is wholly owned