Wednesday, 31 October 2012

UK: Government responds to Nuttall Review recommendations and consults on share buyback proposals

In July this year the Nuttall Review published its final report (herepdf). The review's purpose was to identify barriers to employee ownership and make recommendations. Three broad barriers were identified - a lack of awareness, a lack of resources and actual (or perceived) legal, tax and regulatory complexities - and 28 recommendations were made. Yesterday the Government published its response to these recommendations: see here (pdf). A consultation paper was also published setting out possible reforms to the Companies Act 2006 rules regarding share buybacks: see here (pdf).

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