* Increase in minimum statutory holiday entitlement
the first phase of the increase in the number of days to which employees are entitled, from 20 to 24 days, comes into force from 1 October. Bank holidays are included in the allowance; for instance, if an employee already gets four weeks' paid holiday plus bank holidays, their entitlement will not be affected.
* Companies Act 2006 commencement: Parts 9, 10 (in part), 11, 13 and 14 (in part), 29, 30 and 32, and section 417 in Part 15, are in force from 1 October. The main provisions are:
o directors' duties and responsibilities are set out clearly. While there are no new duties or responsibilities as such, the Act confirms and replaces in a single statement what has previously evolved in case law. In brief, the duty of directors is to act in a way which they consider most likely to promote the success of the company to benefit the shareholders and that, in doing so, they need to have regard as necessary to long-term factors, the interests of other stakeholders, such as employees, the community, and the company's reputation. In practical terms, this means no new paperwork is required, but directors will want to continue to make and keep written records of their decisions as they did before the Act.
See full Article.
Posts
