Worker Co-Operatives and Right To Buy Bill 2021

Public bill · Private Member · Introduced

Aimed at making it easier for employees to set up and run worker co-operatives, this measure updates the rules for industrial and provident societies so a worker co-op must have at least three members, be owned and controlled by its workers, and keep its assets for the co-op’s purposes rather than private gain. It also lets worker co-ops be registered and file documents electronically, and can reduce some of the reporting burden by exempting certain co-ops from annual returns in line with rules for companies. A key feature is a “right to buy” incentive: where employees buy their business as a worker co-op, the seller could get capital gains tax deferral or relief. It matters because it could help employees take over viable businesses, preserve jobs, and support a more democratic form of enterprise.

Formal long title

Bill entitled an Act to amend the law relating to industrial and provident societies and for that purpose to amend the Industrial and Provident Societies Act 1893 and to provide for connected matters.

Last updated 30 January 2025