CO-PARTNERSHIP.

Waikato Times, Volume 98, Issue 15322, 24 August 1923, Page 2

CO-PARTNERSHIP.

COMPANIES AND EMPLOYEES. BILL APPROVED BY COMMITTEE. By Telegraph—Press Association. WELLINGTON, Thursday. The Companies Empowering Bill, which authorises companies to initiate co-partnership by issuing shares in accordance with services rendered by their employees, has been recommended by the Labour Bills Committee for passing this session. The Committee has made several amendments, the most important being a provision that if complaint is made to the Court by a company or by ; worers that the provisions of ihe scheme are no longer as company or by workers that the pro'of employment of .oilier workers in that industry, or that the provisions of the scheme are being violated, or the scheme is proving detrimental to the company's business, the Court may revoke the companies’ certificates. Labour shares will then be surrendered in payment of an amount fixed in accordance with the company’s regulations. The bill was read a first time in the House to-night, and was described by Sir John Luke as akin to the Whitley scheme in England. He hoped that with the amendments proposed by the Local Bills Committee': it would pass into law. Provision was made for the issue of profit shares to workers, in the establishment where they worked, the net profits being.'fixedT’on assessable income. 1 The scijenje'yyouid come within purview of the -Arbitration Court. The Labour Committee, said Sir John Luke, welcomed the bill.