The Minister says that he does not expect employees to enter into such contracts without careful consideration, and he thinks that this will be a long-term commitment. However, the articles of association of most companies place restrictions on the sale of shares. Will the Government require that there be no restriction on the employee’s ability to sell their shares for the highest price they can achieve, as opposed to having to sell the shares back to the employer at whatever price the employer might justify as being fair in those circumstances? Otherwise I do not see how the employee can form a view on the value of the consideration that they are being offered in exchange for giving up valuable employment rights. Will the Minister give us a clear answer on that question? I feel that he did not offer an entirely clear answer to the previous question from my noble friend.
Growth and Infrastructure Bill
Proceeding contribution from
Lord Myners
(Labour)
in the House of Lords on Monday, 22 April 2013.
It occurred during Debate on bills on Growth and Infrastructure Bill.
Type
Proceeding contribution
Reference
744 c1250 
Session
2012-13
Chamber / Committee
House of Lords chamber
Subjects
Librarians' tools
Timestamp
2013-12-20 03:43:48 +0000
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