Following the Queen’s Speech earlier this month, the Enterprise and Regulatory Reform Bill was published on 23 May. According to a Government statement made when the Bill was presented, it is aimed at making “Britain one of the most enterprise-friendly countries in the world.”
Primary amongst its content are proposals aimed at improving the employment tribunal system. This includes the introduction of new pre-claim conciliation procedures and compulsory pre-claim reference to ACAS. Also, the Government has announced the introduction of a “Rapid Resolution” procedure to deal with smaller claims. “Compromise agreements” are set to be renamed as “settlement agreements”, although the practical significance of this change is not yet clear. Aside from tribunal reforms, the Bill also features measures to amend the Companies Act aimed at giving shareholders of UK-listed companies a binding vote on director’s pay. A full review of the Bill, which has just been published, will be included in our June E-Bulletin.