http://www.legislation.gov.uk/ukpga/2011/5/section/3/2011-10-01Postal Services Act 2011An Act to make provision for the restructuring of the Royal Mail group and about the Royal Mail Pension Plan; to make new provision about the regulation of postal services, including provision for a special administration regime; and for connected purposes.texttext/xmlenStatute Law Database2025-01-20Expert Participation2011-10-01 Postal Services Act 2011Sch. 8 para. 5(1)(b)The Cross-border Parcel Delivery Services (Amendment) (EU Exit) Regulations 2020reg. 4(4)reg. 1 Part 1 31The Secretary of State must ensure that arrangements are made, before the time at which the first relevant disposal is made in relation to a Royal Mail company, for the establishment of an employee share scheme.2Those arrangements must secure that if at any time the proportion of the company owned by the Crown is reduced to nil, the proportion of the company owned by or on behalf of the employee share scheme is at that time (or has before that time been) at least 10%.3If any shares or shares rights have been transferred under the employee share scheme to beneficiaries of the scheme, the shares or share rights are to be regarded for the purposes of subsection (2) as if they are still owned by or on behalf of the scheme.4“Employee share scheme” means a scheme for encouraging or facilitating the holding of shares or share rights in the company (or companies in the same group as the company) by or for the benefit of persons who are or include employees of the company.S. 3 in force at 1.10.2011 by S.I. 2011/2329, art. 3