{"id":17,"date":"2013-04-29T11:08:00","date_gmt":"2013-04-29T11:08:00","guid":{"rendered":"http:\/\/sjbealehrconsult-co-uk.php5.hostingweb.co.uk\/blog\/?p=17"},"modified":"2013-12-06T18:57:10","modified_gmt":"2013-12-06T17:57:10","slug":"employees-can-become-shareholders","status":"publish","type":"post","link":"https:\/\/sjbealehrconsult.co.uk\/blog\/employees-can-become-shareholders\/","title":{"rendered":"Employees Can Become Shareholders"},"content":{"rendered":"<p><span>The Growth and Infrastructure Act is soon\u00a0to become law with the\u00a0employee shareholder provisions expected to take effect in autumn 2013.<span>\u00a0 Therefore, a<\/span>n employer and employee will be able to agree that the employee will give up their statutory rights to unfair dismissal protection (other than automatic unfair dismissal), redundancy pay and to ask for flexible work arrangements or time of for study or training, and will have to give longer notice if they intend to return early from additional maternity, paternity or adoption leave in return for fully paid up shares worth at least \u00a32,000.<\/span><br \/>\n<span><br \/>\n<\/span><\/p>\n<div><\/div>\n<p><span>Before an employee can agree to having \u2018employee shareholder\u2019 status, the employer must provide a written statement with full details about the shares and the rights they carry, including, amongst other things, whether they carry any voting and dividend rights. <\/span><\/p>\n<p><span>The employee will then have to take independent legal advice on the terms and effect of such an agreement regarding\u00a0its effect on employment rights,\u00a0the nature of the rights and obligations attaching to the shares and\u00a0what will happen to the shares if the employee leaves.<span>\u00a0 <\/span>The employer must pay the reasonable costs of obtaining such advice, even if the individual ultimately decides not to accept the offer.<span>\u00a0 E<\/span>xisting workers will be protected from detrimental treatment if they refuse to change to employee shareholder status.<span>\u00a0 <\/span>And although an employer is free to insist on employee shareholder status for a new joiner, an individual will not lose any benefits if the reason for turning down a job is that they don\u2019t want to accept such status.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Growth and Infrastructure Act is soon\u00a0to become law with the\u00a0employee shareholder provisions expected to take effect in autumn 2013.\u00a0 Therefore, an employer and employee will be able to agree that the employee will give up their statutory rights to unfair dismissal protection (other than automatic unfair dismissal), redundancy pay and to ask for flexible [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-17","post","type-post","status-publish","format-standard","hentry","category-employee-shareholders"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Employees Can Become Shareholders<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sjbealehrconsult.co.uk\/blog\/employees-can-become-shareholders\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Employees Can Become Shareholders\" \/>\n<meta property=\"og:description\" content=\"The 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