Thursday 21 November 2013

UK: The Nuttall Review recommendations - progress report, a call for evidence and share buy back guidance

The Department for Business, Innovation and Skills (BIS) has published a progress report in respect of the 28 recommendations made last year by the Nuttall Review of employee ownership: see here (pdf). In respect of one of these recommendations - exempting employee benefit trusts from the 125 year perpetuity period in the Perpetuities and Accumulations Act 2009 to enable perpetual ownership of shares in employee owned companies by employee benefit trusts - BIS has this week published a call for evidence: see here (pdf). It has also published a guide to the changes made to the share buy back rules by the Companies Act 2006 (Amendment of Part 18) Regulations 2013: see here (pdf).

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