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

Bibliographic data

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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136 APPENDIX J. IV. General Hales 7, 37, 39, and 60.—The following may be admitted members: (a) Employees of Gilbert Brothers, Wholesale Shoe Manufac turers, Nantwich, who have been employed for at least six months; (6) the managing partners for the time being of that business; (c) other persons approved by such managing partners and elected by the committee of the society. Persons ceasing to be employees or managing partners shall cease to be members unless they apply to the committee of the society to remain members, and the committee consent, with the approval of the managing partners of Gilbert Brothers, for the time being. Otherwise they shall be paid out six months after the date of their so ceasing, and shall, as soon as the funds of the society allow, receive for their shares their nominal value, or any less sum appearing to be their value by the last balance sheet of the society, and meanwhile they shall not have any right of voting. The limit mentioned in General Rule 39 shall not apply to such repayments. V. General Buies 66, 69, and 70.—Besides a committee of management the society shall have a finance committee of not less than four and not more than five members, whose powers and duties shall be— (1) It may at all reasonable times inspect the books of any partnership in which the society is a limited partner and examine into the state and prospects of the partnership business, and may advise with the general partners thereon and (in so far as the same is permitted by the Limited Partnerships Act, 1907) may meet and confer with the General Partners whenever occasion requires upon all differences and questions concerning the capital of the partnership and the managers’ salaries. (2) It shall inform the employees of any such partnership by notice in writing to each employee, or at a general meeting of the society, how much (hereinafter called Part A) of the profit- sharing fund as defined in any agreement for sharing profits between such partnership and its employees is paid as bonus or dividend on the wages or salary of those employees taken collectively who, at the date to which the accounts of the part nership were made up, were members of the society or under the age of 16 years, and how much (hereinafter called Part B) is paid as bonus or dividend upon the wages or salaries of the other employees collectively. (3) It shall further privately inform the accountant of the society how much of Part A is declared in respect of the wages or salary of each member and of each employee under 16 years of age. The first members of the Finance Committee shall be . . . Any vacancy caused by death, removal, or resignation shall be filled by some member nominated by the society and approved by the general partners in such partnership. Any addition to the finance committee shall be made in the same way. The committee of management shall not have any of the above powers or duties. VI. General Buies 8, 111, 112, 113, and 114.—All sums received by the society under arrangements of or with Gilbert Brothers for sharing profits with its employees shall be treated as capital and not as income of this society. They shall be invested according to Special Rule IX. and credited in the books of the society as follows: — (1) Each member of the society shall be credited with the amount received by the society as dividend or bonus on his wages or salary, such amounts not to be withdrawn so long as he is a member of the society and has less than £200 fully paid up in the shares of the society; but whenever there is a sufficient sum standing to his credit, enough shall be transferred to his share account to create a fully paid up share in the society until he has £200 fully paid up in the shares of the society; and appli cation for membership of the society shall he taken to include application from time to time for any such share or shares. (2) Any amount received by the society in respect of an employee under 16 years of age shall be entered in his name until he is

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