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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RULES OP GILBERT BROTHERS’ EMPLOYEES, LTD. 137 16 years of age. If he then or within one year afterwards becomes a member, it shall be transferred to his share account, and otherwise to Part B. (3) The society shall hold that part of its capital representing Part B as a Non-members’ Provident Fund for the benefit of all employees of Gilbert Brothers, who, from time to time, are not members of the society or their wives, children, or widows, or persons dependent on them, to be administered under regula tions made by the committee of management of the society from time to time and approved by the managing partners of Gilbert Brothers. VII. General Buies 22, 26, and 112 (2).—Shares shall be of two kinds, Invested Shares and Accumulated. The latter shall be shares paid up under Special Rule VI. (1) and (2). All other shares shall be called Invested. Invested shares shall have preference both as to payment of dividend and in case of a dissolution of the society. No person shall hold more than £100 in Invested shares. VIII. General Buie 23 The payment of instalments on shares shall only be enforced in case of dissolution, or if the committee decide to put General Rule 23 in force. Otherwise a member shall only be obliged to pay his entrance fee, and may leave any share allotted to him to be paid up under Special Rule VI. (1) or (2). IX. General Buie 35.—The capital of the society, except tvuch sums as may appear to the committee to be likely to be necessary to meet the current expenses of the society and to pay out any of its members who may at any time cease to be employees of Gilbert Brothers, for at least six months, or to satisfy the purposes for which the Non-members’ Provident Fund is held, shall in furtherance of its objects be applied in augmentation of the Society’s share or interest in Gilbert Brothers, as a limited partner therein, or in the purchase of the whole of such business. Subject to the above, the committee may invest as provided in General Rule 35. X. General Buie 55.—The ordinary business meetings shall be held twice annually. One shall be held as soon as possible after the completion of the annual accounts of Gilbert Brother's. This shall be called the annual meeting. The second ordinary business meeting shall be held in the sixth month following. XI. General Buies 64 and 65.—The committee of management shall be elected from those who have been members of the society for at least two years, and have at least £10 paid up in the shares of the society, if a sufficient number of such members are nominated and are willing to serve. XII. General Buie 71.—Every balance sheet of the society shall give a complete list of members by their numbers and not by their names, and show the amount paid up on shares by each. It shall also give a similar list of loan-holders and the amount of their loans outstanding. It shall also state up to what date interest and dividend are included. It shall also give a separate account of the Non-members’ Provident Fund, and state clearly that such fund is held in trust, and is not an asset of the society. XIII. General Buie 86.—The seal of the society shall have the device of a coin and the name of the society around. XIV. General Buie 82 is not adopted. XV. General Buies 90, 91, and 92 are not adopted. XVI. General Buie 96.—Fines shall be carried to the Reserve Fund provided for in Special Rule XVIII. XVII. General Buie 111.—The profit and loss of the society shall be calculated annually, and at the same time the investments of the society other than as a partner in Gilbert Brothers, and not including investments of the Non-members’ Provident Fund, shall be valued by the committee at their then present value or the last previous valuation or their cost price, whichever be the least. Any deficiency in the value so set upon such investments as compared with their cost price or last previous valuation shall be treated as a loss by the society for that year.

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