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

Usage license:: Get license information via the feedback formular.

RULES OF FOSTERS’ EMPLOYEES, LTD. 139 V- General Buies 8, 111, 112, 113, and 114 Subject to the provisions hereinafter contained as to Common Fund all sums received by the society under arrangements of the company 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 Buie VII. and credited in the books of the society as follows: — (1) Each member of this society shall be credited with the amount declared by the company to be paid as dividend or bonus on his wages or salary, and 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, whether such share be applied for by him or not. (2) The sums declared by the company to be paid as dividend or bonus on the wages of non-members of this society shall be credited collectively to a Non-members’ Provident Fund, to be held by the society as trustee and not as beneficial owner, and to be administered for the benefit of those employees of the company who, for the time being, are not members of this society, or their wives, children, or widows, or persons dependent on them, subject to any regulations made by the committee from time to time and approved by the directors of the company. (3) The sums declared by the company to be paid for the credit of Common Fund shall be applied thereto and administered for educational, social, provident, propagandist, and other purposes for the benefit of the members of this society or their wives, children, or widows, or persons dependent on them, subject to any regulations which the society may from time to time make and the directors of the company approve. Special committees for the above purposes shall only be appointed if the regulations above mentioned so provide. The power of the general meetings shall not extend to the Non-members’ Provident Fund, nor shall they as to the Common Fund extend beyond the provisions of this rule. VI. 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 Buie 23 in force. VII. General Buie 35.—The capital of the society, except such sum as it may be necessary to keep as cash in hand or at bank from time to time, shall be invested in fully paid up shares in the company, so long as such shares can be acquired, by allotment, at par. Thereafter the committee shall, if authorised by a general meeting, invest any further capital of the society in purchase at the market price for the time being of additional shares or debentures in the company. Subject to the above they may invest as provided in General Buie 35. VIII. General Buie 55.—The ordinary business meetings shall be held twice annually. One shall be held as soon as possible after the issue of the annual report of the company. This shall be called the annual meet ing, and at it the delegates to represent the society at the annual meeting of the company shall be elected. The second ordinary business meeting shall be held in the sixth month following. IX. General Buies 64 and 65.—In the election of members of committee preference shall be given to 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. X. General Buies 71 and 112.—If any balance sheet would otherwise show a deficit in capital account, the amount of such deficit shall be written off the Beserve Fund, and, failing that, off the Common Fund, so far as such funds respectively extend. XI. 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

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