§ [Nos. 45–50.]
§ After Clause 17, insert the following new clause—
§ Directors' report to state average number, by the week, of employees and the amount, by the year, of their wages.
§ (".—(1) If, at the end of a financial year, a company does not have subsidiaries, there shall be contained in the directors' report relating to that year a statement of—
- (a) the average number of persons employed by it in each week in that year; and
- (b) the aggregate remuneration paid or payable in respect of that year to the persons by reference to whom the number stated under the foregoing paragraph is ascertained.
§ 2) If, at the end of a financial year, a company has subsidiaries, there shall be contained in the directors' report relating to that year a statement of—
- (a) the average number of persons employed between them in each week in that year by the company and the subsidiaries; and
- (b) the aggregate remuneration paid or payable in respect of that year to the persons by reference to whom the number stated under the foregoing paragraph is ascertained.
§ (3) The number to be stated under subsection (1)(a) above shall be the quotient derived by dividing, by the number of weeks in the financial year, the number derived by ascertaining, in relation to each of those weeks, the number of persons who, under contracts of service, were employed in the week (whether throughout it or not) by the company and adding up the numbers ascertained, and the number to be stated under subsection (2)(a) above shall be the quotient derived by dividing, by the number of weeks in the financial year, the number derived by ascertaining, in relation to each of those weeks, the number of persons who, under contracts of service, were employed between them in the week (whether throughout it or not) by the company and its subsidiaries and adding up the numbers ascertained.
§ (4) The remuneration to be taken into account for the purposes of subsections (1)(b) and (2)(b) above is the gross remuneration paid or payable in respect of the financial year; and for this purpose 'remuneration' shall include bonuses (whether payable under contract or not).
§ ) This section shall not apply to a company if the number that, but for this subsection, would fall to be stated under subsection (1)(a) or (2)(a) above is less than 100, nor shall it apply to a company that is a wholly owned subsidiary of a company incorporated in Great Britain.
§ (6) For the purposes of this section, no regard shall be had to a person who worked wholly or mainly outside the United Kingdom.
1195§ (7) In this section, 'wholly owned subsidiary' shall be construed in accordance with section 150(4) of the principal Act.")
§ Clause 19, page 19, line 11, after ("company") insert ("subject to the requirements of paragraph 13A of Schedule 8 to the principal Act")
§ Clause 19, page 19,line 15, leave out ("Schedule 8 to the principal Act") and insert ("that paragraph")
§ Clause 19, page 19, line 16, leave out ("£20,000") and insert ("£50,000")
§ Clause 19, page 19, line 25, leave out ("unless") and insert ("except in a case in which")
§ Clause 19, page 19, line 27, after ("goods") insert ("or a case in which the company submits in respect of that year group accounts prepared as consolidated accounts in respect of itself and all its subsidiaries and the turnover (so far as stated therein in pursuance of the said paragraph 13A) does not exceed £50,000")
§ LORD BROWNMy Lords, I beg to move.
§ Moved, That this House doth agree with the Commons in the said Amendments.—(Lord Brown.)
§ On Question, Motion agreed to.