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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144 APPENDIX L. standing to his credit in the event of his death, provided that they together do not exceed the sum of £100. Such nomination may be in favour of one person or several persons either jointly or in specified Shares. On the receipt of the nomination by the Secretary it will be duly registered, and the nominee or nominees will, on production of proof to the satisfaction of the Directors of the death of the appointer, be entitled to be registered as owner or owners of the Stock, and to receive the deposits in accordance with the nomination to the amount of £100, subject, how ever, to a declaration as to the amount of the appointer’s estate and to payment of estate duty if after deduction of debts and funeral expenses it should exceed the value of £100. Any nomination may be revoked by the appointer by writing under his hand signed in the presence of a witness and registered with the Secretary. Where an employee has not registered a nomination and the Stock and deposits belonging to him do not exceed the value of £100, the Directors are authorised by Parliament, and will be prepared in a proper case (after the Estate duty is paid if his total property exceeds £100 after deduction of debts and funeral expenses) to distribute the amount in payment of funeral expenses or debts or among his widow and children or next of kin, if probate of a Will or Letters of Administration are not produced within such time as they think reasonable. 12. A Committee of Management shall be formed, to consist of the Chairman of the Board of Directors, and twenty-six members elected by the Board, and twenty-seven members elected by the Co-partners in pro portion to the numbers at each Station, who shall be elected by ballot; candidates must hold and continue to hold while in office on the Committee not less than £25 of Stock, and they must have been not less than five years in the Company’s service; one-third of the elected members of the Committee shall retire by rotation every year, but shall be eligible for re- election. Twenty-six members shall constitute a quorum, of which not less than thirteen shall be members who were elected by employees, and every resolution to be binding at such Meeting shall have for its support a majority of the members of the Committee present at, and voting upon, the resolution. 13. The committee shall appoint a Secretary, who shall have no power of voting. 14. In the event of any difference arising as to the construction of these Rules, it shall be referred to the Committee, whose decision shall be final and conclusive. 15. There shall be two Auditors, one to be elected by the employees, the other to be appointed by the Company, whose duty will be to compare and initial the employees’ Pass Books with the General Account, and for that purpose all Pass -Books must be handed in or sent to the Head Office in the month of May in each year. 16. The Committee shall meet for the transaction of business when sum moned by the Secretary, but not less than twice in each year; they shall also be summoned on the requisition of five of their own number or of thirty of the employees. 17. The Secretary shall receive all Notices, summon all Meetings of the Committee, and see that all decisions of the Committee are duly carried out. 18. No alteration shall be made in these Rules whatever except by the sanction of the Committee, and subject to notice of at least one calendar month; which notice shall state the nature of the alterations, and be posted in conspicuous places at the various stations; but nothing in these Rules contained, or which may be contained in any Rules hereafter agreed upon, shall give to any employee, whether Officer or Workman, any right to interfere in the management or control of the Company’s Works, or in the working and carrying on of the Company’s business, except as provided by the Company’s Acts of 1896-7 for the appointment of three Directors by the Employee Shareholders. 19. The Company shall provide all the books and other incidentals, and keep the accounts, together with a record of all the transactions, at the Company’s sole cost and charges.

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