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Part 1Restructuring of Royal Mail group

Interpretation

14Ownership of companies

(1)This section applies for the purposes of this Part.

(2)References to ownership of a company are to ownership of its issued share capital.

(3)References to ownership of a company include indirect ownership of it.

(4)References to the reduction of the proportion of a company owned by the Crown include a reduction to nil.

(5)For the purposes of determining the proportion of any company owned by the Crown, property and rights of the Secretary of State or the Treasury (or a nominee of either of them) are to be regarded as property and rights of the Crown.