Employee Shareholder Proposals – reinstated by the House of Commons

News - 17/04/2013

CODE: GREEN

Further to our previous blog,  it was reported yesterday that the new ‘Employee Shareholder’ status proposals, removed by the House of Lords, have been reinstated by the House of Commons in the draft Growth and Infrastructure Bill.   An employee shareholder will receive shares worth at least £2,000 in exchange for giving up certain employment rights such as the right to claim unfair dismissal (in most circumstances) and a statutory redundancy payment.

The bill containing the concept of ’employee shareholder’ now needs to go back to the House of Lords for a further reading. Watch this space!

For further information please contact a member of the employment team.

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Although correct at the time of publication, the contents of this newsletter/blog are intended for general information purposes only and shall not be deemed to be, or constitute, legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article. Please contact us for the latest legal position.

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