The coalition Government's Postal Services Bill passed its third reading in the Commons yesterday (12 January), with 319 MPs voting in favour and 238 against.
There was a failed attempt to amend the bill to force Royal Mail to guarantee its custom for 10 years to the Post Office, which would remain state-owned.
The bill provides for the regulation of Royal Mail to be passed from Postcomm to media and telecoms regulator Ofcom, which will be expected to maintain a sustainable and efficient universal postal service, while deregulating more quickly in competitive parts of the market.
It also provides for up to 10% of shares to be transferred to Royal Mail employees.
The bill now requires the approval of the House of Lords before becoming law.