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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134 APPENDIX H. 2. Officials who are paid quarterly may deposit sums of not less than One Shilling and not more than Two Pounds per week. The amounts must be handed in at the Cashier’s Office of each department. 3. In the case of employees paid weekly, the total amount which may be deposited is £200. In the case of those paid quarterly, the total is £400. Interest and Bonus. 4. A fixed sum equal to 4 per cent, per annum will be allowed as interest on all deposits, and will be added to the depositors’ accounts at the end of June and the end of December in each year, except in the case of such depositors as may give notice of their intention to withdraw the interest in cash. 5. In addition to the fixed rate of interest, a bonus will be declared each year equal to half the difference between the fixed rate of 4 per cent, and the dividend payable on the shares of the Company. As in the case of the fixed interest, this bonus will be added to the depositors’ accounts unless they give notice of their intention to withdraw it. 6. Sums withdrawn will be entitled to only the 4 per cent, interest from the 31st December preceding up to the date of repayment. They will, however, be entitled to their proportion of the bonus up to the said 31st December preceding. 7. No interest or bonus will be allowed on sums of less than Ten Shillings, or in respect of any period less than one calendar month. Deposit Books. 8. All sums deposited with the Company will be entered in a deposit book. On a date which will be duly announced, this book will be handed to those depositors having time boards, at their respective time offices, by one of the Company’s staff, and on production by the depositors of their time boards. 9. In order to be written up, all deposit books must be returned at the time offices once in each month, to one of the Company’s staff appointed to receive them, and on a date which will be duly announced. 10. Those officials who have not time boards will receive their deposit books direct from the account branch and must return them there each month. Repayments and Withdrawals. 11. Deposits will be repaid or may be withdrawn as follows: — Up to one-half on seven days’ notice. The whole on fourteen days’ notice. 12. Under special circumstances the Company will allow deposits to be withdrawn without notice. 13. Persons leaving the employ of the Company will be repaid their deposits at the expiration of fourteen days. Supplementary Rules. 14. The interest and bonus payable under the Rules will be limited to a total of 10 per cent, on all deposits made after June 30th, 1901. The minimum will be 4 per cent, as hitherto, and the sliding scale will apply subject to the above limit. 15. In the case of deposits made on or before June 30th, 1901, the foregoing rule will apply on and after January 1st, 1903. 16. The Board of Directors reserve the right of fixing a limit to the total amount which will be received upon these terms. 10th June, 1901.

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