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 SOUTH METROPOLITAN GAS CO. 143 for Winter men) shall become the absolute property of the employee. One- half shall be separately entered in his Pass Book and invested in the Com pany’s Ordinary Stock, either in his own name or on his behalf in the names of the three Trustees, and the other half shall be entered in his Pass Book to accumulate at interest, but under special circumstances, it may be allowed to be withdrawn upon giving not less than seven days’ notice upon a form provided for the purpose. The whole of the Bonus, however, may be placed direct to the Trust Account if any employee notifies the Pay Clerk or the Co-partnership Secretary that such is his desire. Under no circumstances whatever, except fraud, shall the declared Bonus or any part or any accu mulations thereof, whether in the hands of the Trustees or in the name of the employee, be forfeited. 6. Winter men under signed Agreement shall be entitled to the full Bonus, provided they return in the following Winter, and leave the with drawable half on deposit with the Company. If, however, they choose to take the withdrawable half in cash, they are perfectly at liberty to do so, but in that case they will not be entitled to the other half. Should the Bonus at any time amount to 10 per cent., the maximum payable to Winter men who take payment in cash, viz., 5 per cent., will be reached. Winter men who leave their Bonus with the Company and who do not return the following season can, on application to the Secretary, obtain payment of the withdrawable portion to which they were entitled when leaving, plus the usual interest. 7. The Committee shall appoint three Trustees, one Director, one Officer, and one Co-partner Workman, in whose names the half Bonus and any interest, savings, or transferred amounts added thereto shall be invested annually in the Company’s Ordinary Stock. If the amount so accumulated by any employee be sufficient for the allotment of £10 or more of Stock, the Trustees shall transfer such amount to him. In the event of leaving the service of the Company or on the death of any depositor the Trustees shall pay to him or to his representatives, in accordance with Rules 5 and 11, whatever money may be standing in his name in their hands, but under no other circumstances shall any money be withdrawn from the Trust Account. 8. Interest at the rate of 3 per cent, per annum shall be allowed on all amounts, excluding fractions of a pound, accumulated with the Company. It shall be calculated up to June 30th in each year, but shall not be given for an incomplete month. 9. The Company will receive and add to his account such amounts as any employee may deposit as savings, and on all such sums interest shall be paid as per Rule 8. 10. The Company will, on the application of any of their employees, make arrangements for the transfer and investment of any sums to their credit in the withdrawable account or any other money they may desire to invest, into the Stock of the Company. Any employee selling Stock purchased through Co-partnership, without the consent of the Secre tary of the Company, or pawning or pledging the same, will at once cease to be a Co-partner, notwithstanding any Agreement he may have signed. No Co-partnership system can endure unless it continues to fulfil the objects for which it was founded; therefore those Co-partners who do not endeavour to promote the welfare of the Company and of Co partnership, and who sell, pawn or pledge Stock or withdraw Bonus except as allowed under special circumstances shall be struck off the list and not be permitted to renew Agreements. They may, however, again become qualified after the lapse of two years if during that period they have taken an active interest in the prosperity of the business and have deposited savings equal in amount to two weeks’ wages. 11. Any Employee may, pursuant to the South Metropolitan Gas Act, 1896, nominate by writing in the prescribed form (which may be obtained from the Secretary), any person or persons to be registered as owner of and to transfer the whole or any part of the Stock of the Company belonging to him, and to receive the whole or any part of the deposits

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