The Department for Business, Innovation and Skills (BIS) has announced that draft Regulations, which are intended to make it simpler for employers to buy back shares from ‘employee owners’, are to be released soon. The Regulations are likely to include a provision that allows employers to buy back shares in instalments.
In the interim, BIS has released draft legal templates for businesses to refer to in order to become employee-owned. It is proposed that these templates will be subject to further development before becoming widely available for use.
For full details, please see:
https://www.gov.uk/government/publications/employee-owned-company-draft-model-documentation
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