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This Bill was presented to Parliament on 21 May. This is known as First Reading and there was no debate on the Bill at this stage.

N.B. This Bill will not progress any further as the 2008-09 Session of Parliament has ended.

Summary of the Bill

The Bill provides for the restructuring of Royal Mail Group Ltd, changes in the Royal Mail Pension Plan, and a change in the regulation of postal services.

Key areas

• Makes provision to ensure Royal Mail Group Ltd and Post Office Limited remain in public ownership, while allowing for a sale of a minority stake in Royal Mail
• Introduces changes to the Royal Mail Pension Plan, including the transfer of Royal Mail’s historic pension deficit to the Government
• Establishes a new regulatory regime for the postal services sector, including transferring regulatory responsibility from Postcomm to the Office of Communications (OFCOM), with the primary duty of OFCOM in relation to postal services being to maintain the universal service.

 

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