Advent
Labour MP Sir George Howarth secured parliamentary time to introduce draft legislation designed to reform the UK?s all-employee share plans. His Ten Minute Rule Bill calls for a number of specific changes to the current rules including introducing ?a new employee share ownership scheme allowing preferential access for lower income workers?, and calls for the Share Incentive Plan (SIP) holding period to be reduced from from five to three years. The Bill would also ?require companies to include declarations in annual reports about the type of employee share ownership plans that are operated and the level of employee take up.?
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