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Postal Services Bill [HL]

Amendment 1 1: After Clause 13, insert the following new Clause— "Report on agreement to dispose of shares in a Royal Mail company etc (1) This section applies to any agreement that would (or could) reduce the proportion owned (directly or indirectly) by the Crown of a Royal Mail company. (2) Where such an agreement is entered into, the Secretary of State must lay a report on the agreement before Parliament as soon as reasonably practicable after the agreement has been entered into. (3) The report must state— (a) the principal objectives intended to be achieved by the entering into and carrying out of an agreement to which this section applies, and (b) the extent to which the Secretary of State considers that the carrying out of the agreement mentioned in subsection (2) will achieve those objectives. (4) The report must state— (a) the principal criteria applied in deciding whether an agreement to which this section applies should be entered into, and (b) the extent to which the Secretary of State considers that the agreement mentioned in subsection (2) meets those criteria. (5) The report must contain a summary of the terms considered by the Secretary of State to be the principal terms of the agreement."