HC Deb 11 November 1968 vol 773 cc156-8

Resolved, That, in any Bill introduced in the present Session for an Act to abolish the office of master of the Post Office, distribute the business conducted by the holder thereof amongst authorities consisted for the purpose and make provision consequential on the abolition of that office and the distribution of the business so conducted (hereinafter referred to as "the Act"), it is expedient to include provision for rendering liable to charges to corporation tax the corporation that is to be established, by virtue of the Act, by the style of the Post Office, and that, for the purposes of the Act, it is expedient to authorise—

  1. (1) the payment into the Consolidated Fund of—
    1. (a) the surplus of sums received, under the Wireless Telegraphy Act 1949, by the Minister of the Crown who is to be appointed, by virtue of the Act, by the style of the Minister of Posts and Telecommunications (hereinafter referred to as "the Minister") over sums paid by him by way of refunding sums paid under section 2(1) of that Act;
    2. (b) any sums received under section 11(4) of the Wireless Telegraphy Act 1967 by the Minister;
    3. (c) the surplus of sums which, under provisions of the Act relating to the licensing of programme distribution systems, are received by the Minister over sums paid by him by way of refunding sums paid under those provisions;
    4. (d) any sums received by the Treasury by way of repayment of the principal of, or the payment of interest on, sums issued out of that fund for fulfilling any guarantee given by them for the repayment of the principal of, or the payment of interest on, any sums borrowed by the Post Office from a person other than the Minister;
    5. (e) any sums which, by virtue of any provision of the Act, are deducted by the National Debt Commissioners from sums paid to them out of ordinary deposits with the establishment which, by virtue of the Act, is to be styled the National Savings Bank or fall, by virtue of any provision of the Act, to be debited to the account required to be kept of sums received or paid with respect to investment deposits with that establishment;
    6. (f) the excess, in any year, of the sums that accrued by way of interest on investments made, under section 16 of the Post Office Savings Bank Act 1954, by the National Debt Commissioners (after deduction of any sum required by the Treasury to be set aside to provide for depreciation in the value of investments so made) over the aggregate of—
      1. (i) the aggregate of the sums paid or credited during the year by way of interest on ordinary deposits with the said establishment; and
      2. (ii) the amount of the expenses incurred during the year in the execution of that Act;
    7. (g) any sums received from the Post Office by the Commissioners of Inland Revenue in pursuance of any provision of the Act, being sums attributable to the purchase of adhesive postage stamps for use for denoting a stamp duty or sums paid to the Commissioners in consideration of their stamping with stamps denoting the appropriate postage, paper sent to them for the purpose of its being stamped for use as postcards or reply-postcards or covers or envelopes of postal packets; and
      8. 158
    8. (h) the sum received by the Treasury in consideration of the disposal, under the authority of the Act, of their interest in the shares of Cable and Wireless Limited; and
  2. (2) the payment into the National Loans Fund of any sums received by the Minister by way of the repayment of the commencing capital debt of the Post Office or of sums lent by him to it or the payment of interest on that debt or sums so lent.—[Mr. Harper.]