Postal Services Act 2011
- Type of Bill:
- Government Bill
- Sponsors:
- Vince Cable
Department for Business, Innovation and Skills - Baroness Wilcox
Department for Business, Innovation and Skills
Progress of the Bill
Bill started in the House of Commons
- House of Commons
-
- House of Lords
-
-
- Royal Assent
Last event
-
Royal Assent 13 June, 2011
|
13.06.2011
Act of Parliament
| House | Act | Date |
|---|---|---|
|
Postal Services Act 2011 c.5 | 13.06.2011 |
Latest news on the Postal Services Act 2011
Following agreement by both Houses on the text of the Bill it received Royal Assent on 13 June. The Bill is now an Act of Parliament (law).
Summary of the Postal Services Act 2011
The Bill's provisions are divided into four main parts.
- Part 1 provides for the restructuring of Royal Mail, including the introduction of private sector capital and expertise from the sale of up to 90% of Royal Mail, an employee share scheme and provisions for Post Office Ltd to continue to be owned by the Crown or a mutual ownership structure
- Part 2 deals with the Royal Mail’s pension deficit by transferring the historic liabilities of the scheme to the Government
- Part 3 makes provisions for the regulatory arrangements for postal services through the transfer of powers from Postcomm to Ofcom
- Part 4 contains provisions for a “special administrative regime” should the universal postal service be at risk from the provider entering insolvency proceedings
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