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Proceeding contribution from Baroness Dean of Thornton-le-Fylde (Labour) in the House of Lords on Wednesday, 6 April 2011. It occurred during Committee of the Whole House (HL) and Debate on bill on Postal Services Bill.

Postal Services Bill

24PB: After Clause 34, insert the following new Clause— ““Indebtedness of potential USP (1) OFCOM, in designating a postal operator as a universal service provider must take into account the financial indebtedness as a proportion of the value of the company of any potential USP, and may limit this indebtedness to such a percentage as OFCOM may from time to time determine. (2) For the purpose of this section— (a) ““financial indebtedness”” means, at any time, the aggregate outstanding principal, capital or nominal amount of any indebtedness of the company calculated in accordance with guidelines published by OFCOM, and (b) ““value of the company”” means the value of the company’s assets calculated in accordance with guidelines published by OFCOM and taking into account the timing of material transactions affecting that value.””

Secondary information

Type
Proceeding contribution
Reference
726 c1801 
Session
2010-12
Chamber / Committee
House of Lords chamber
Subjects
Contracts Devolved matters Competition Finance Insolvency Privatisation Workplace pensions Staff Post offices Prices Pension funds Postal services Parcels Ofcom Postal Services Commission Post Office Postage stamps Reform Wales Surcharges Rural areas Royal Mail Universal service obligation Operating costs British Postal Museum and Archive
Legislation
Postal Services Bill 2010-12
Link
View this Proceeding contribution on www.publications.parliament.uk