Report on profit-sharing and labour co-partnership in the United Kingdom

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Monograph

Identifikator:: 1016336950

URN:: urn:nbn:de:zbw-retromon-27123

Document type:: Monograph

Title:: Report on profit-sharing and labour co-partnership in the United Kingdom

Place of publication:: London

Publisher:: His Majesty's Stationery Office

Year of publication:: 1912

Scope:: 1 Online-Ressource (160 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: II. Profit sharing and co-partnership in private firms and companies

Collection:: Economics Books

32 II.—PRIVATE FIRMS AND COMPANIES. “ 4. The issue to a director shall be made in accordance with the direc tions of the Holder of the Majority Shares of the Company, who shall determine whether the director is qualified to receive a Partnership Certificate, and if so the nominal amount, within the limits mentioned below, of the certificate which is to be issued to him. A director shall he entitled to receive and hold for his own benefit, subject to the provisions of the Scheme, certificates, whether Partnership or Preferential, notwith standing that he may be a Trustee of the Trust Deed. “5. The employees admitted to receive Partnership Certificates and the nominal amount of their certificates shall, in the first instance, be deter mined by the Trustees who, in the case of any employee, may, if they think fit and shall if requested in writing within such time as the Trustees shall in the circumstances of the case think reasonable by the employee so to do, refer his case to the Committee for consideration and for a Report whether the employee is qualified, and if so, what is the nominal amount of the certificate which, in the Committee’s opinion, he ought to receive? After receipt of the Report, the Trustees shall consider it and all the circumstances of the case, and shall finally decide whether the employee is entitled to the issue to him of a Partnership Certificate, and if so, for what nominal amount, which, however, shall not exceed the limits stated below. Notice of the decision shall be given to the employee, who shall be entitled at any time within one calendar month, or in the case of an employee in the service of the Company or an Associated Company, and for the time being resident out of the United Kingdom, within three calendar months or such further time as the Trustees may think fit, of the giving of such notice to appeal from the decision of the Trustees to the Holder of the Majority Shares of the Company. Such Holder may, if he thinks fit, hear the Trustees and the employee, and call for any evidence he deems desirable on such appeal, and his decision shall be final and binding “6. The Trustees shall from time to time issue to every person qualified to receive the same, Partnership Certificates in accordance with the fore going provisions. “ 7. The nominal amount of the Partnership Certificates issued and to be issued under the Scheme shall be limited, as follows: —• “ (a.) The Director Class.—A director may receive Partnership Certifi cates of a nominal amount approved by the Holder of the Majority Shares of the Company, but not exceeding the limits from time to time fixed by such Holder. “ (6.) The Management Class.—A director of the Company not devoting his whole time to the interests of the Company, a former director of the Company, or a director of any of the Associated Companies, if nominated as hereinbefore mentioned; or an employee who is a Secretary, Assistant Secretary, Manager, Assistant Manager, or Foreman, may receive Part nership Certificates for a nominal amount determined by the scale and within the limits of the following Table: — Maximum Nominal Amount Table I. of Partnership Certificates. £ 3,000 Where annual salary is £750 or upwards Where annual salary is less than £750 and not less than £500 2,000 Where annual salary is less than £500 and not less than £300 1,200 Where annual salary is less than £300 and not less than £200 800 Where annual salary is less than £200 and not less than £100 400 Where annual salary is less than £100 200

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