Employee shareholder scheme receives green light
The Growth and Infrastructure Bill, which includes Chancellor George Osborne’s employee shareholder scheme, has gained Royal Assent. The scheme, to be introduced in the autumn, enables employers to offer employees shares in the business worth at least £2,000 in return for forfeiting their statutory rights on unfair dismissal and redundancy pay. The employee must seek legal advice, paid for by the employer, before agreeing, and the employer must provide full details about the shares and any associated rights.
