Growth and Infrastructure Bill — Employee Shareholder Status — 16 Apr 2013 at 13:33

The majority of MPs voted to permit employers not to extend certain otherwise statutory rights to employees given at least £2,000 worth of shares and gaining employee shareholder status.

MPs were considering the Growth and Infrastructure Bill^[1]. The motion passed in this vote was:

• That this House disagrees with Lords amendment 25

Lords amendment 25^[2][3] stated:

• Leave out Clause 27

Clause 27^[4] introduced the employee shareholder scheme and a new employment status of employee shareholder.

The employee shareholder scheme is an employee status where an employee is given shares worth at least £2,000 on receipt in return for which the employer is permitted not to extend unfair dismissal rights, rights to statutory redundancy pay and other employment rights to the employee.

• [1] Parliament's webpage on the Growth and Infrastructure Bill
• [2] Lords Amendments to the Growth and Infrastructure Bill - April 2013
• [3] Page of Lords Amendments to the Growth and Infrastructure Bill - April 2013 containing amendment 25
• [4] Clause 27 of the Growth and Infrastructure Bill - Employee owners

Debate in Parliament | Source |