Employee ownership and share buy backs: implementing Nuttall Review recommendations
Consults on a recommendation to deregulate how companies authorise share buy backs, finance share buy backs, and hold shares 'in treasury'.
The ‘Nuttall Review on Employee Ownership’ recommended (recommendation V) that the government should review and consult on changes to deregulate the conditions under which companies can:
- authorise share buy backs
- finance share buy backs
- and hold shares ‘in treasury’
This consultation seeks views on deregulatory changes to simplify how private companies may authorise and finance the repurchase of its own shares, and hold these shares in treasury once repurchased. We want to understand the possible implications for companies, employees, and other stakeholders, and to ensure that there are no unintended consequences. The draft regulations attached show the legislative changes that would be needed.