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

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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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Document type:: Monograph

Structure type:: Chapter

Title:: II. Profit sharing and co-partnership in private firms and companies

Collection:: Economics Books

DETAILED ACCOUNT OF VARIOUS SCHEMES. 47 system of Profit-sharing was further developed by taking advantage of the new Limited Partnerships Act. The employees of the firm formed a Society, which, in June, 1908, was registered under the Industrial and Provident Societies Act, 1893, under the name of “ Gilbert Brothers’ Employees, Limited.”* By the Special Buies of this Society its objects are declared to be “ to carry on the industries, businesses and trades of manufacturers of and dealers in boots, shoes, and every kind of footwear, both wholesale and retail, and whether alone or in limited partnership with any other Society, company, firm, or person.” The llules further provide that “ the following may be admitted members; (a) employees of Gilbert Brothers, Wholesale Shoe Manufacturers, Jiantwich, who have been employed for at least six months; (b) 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. This Committee, which is 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, possesses the ordinary powers and duties of a Committee of Management, but does not possess certain special powers and duties, which are assigned to a separate Committee termed “ the Finance Committee.” This Finance Committee consists of not less than four and not more than five members, and its powers and duties are thus defined : — “ (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 when ever occasion requires upon all differences and ques tions concerning the capital of the partnership and the managers’ salaries. c ' (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 partner ship and its employees, is paid as bonus or dividend on the wages or salary of those employees taken col lectively who, at the date to which the accounts of the partnership were made up, were members of the Society or under the age of 16 years, and how much (here inafter 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 * The Special Rules of this Association are printed in Appendix J PP- 135-138.

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