A NOTEPAD ON COMPANY AND FINANCIAL LAW, NEWS AND REGULATION
The Law Society published a letter on 16 January 2013 setting out its opposition to the Government’s plans for a new employment status – the “employee shareholder” (see this post for the Government’s most recent statement on its plans).
In its letter, the Law Society says:
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BIS has today published its response to the consultation which it launched on 18 October 2012 on its proposed new “employee owner status”, under which employees would sacrifice some employee rights in exchange for CGT-advantaged shares in their employer. We covered the consultation launch in this post.
The consultation response is here.
From the executive summary of the consultation response:
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The Department of Business, Innovation and Skills has today published its consultation on implementing the Government’s proposed new “employee owner status”, under which employees would sacrifice some employee rights in exchange for CGT-advantaged shares in their employer. The BIS press release is here and the consultation document is here (pdf).
Amongst the many thought-provoking aspects of the consultation document is a suggestion is that the Companies Act 2006 rules on share buy-backs might be relaxed after consultation (page 18):
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