Jargon Buster – P

Word
Meaning

People with significant Control (PSC)

PSC has the right to exert significant influence or control over the business and management of a limited company or LLP.

PPE

Personal Protective Equipment - employers must provide their employees with the correct PPE as for the Work Regulations 1992.

Proposal

A proposal is a written offer from a seller to a prospective buyer. Business proposals are often a key step in a sales process. 

Prescribed Person

Prescribed persons order 2014 sets out a list of over 60 organisations and individuals that a worker may approach outside their workplace to report suspected or known wrongdoing. The person or organisations within the listing have normally been designated as a prescribed person because they have an authoritative or oversight relationship with their sector, often as a regulatory body. Up to date lists can be found here.

Paternity Leave

An authorised absence of work for a father to have after the birth of his child

Permission to work

For anyone to work they need permission, this can be stating your nationality as proof of work in the UK.

Public Liability Insurance

Protects a business, if anyone is killed or injured along with protection of the workplace property

Public Interest Disclosure Act 1998 (PIDA)

Protects people who share information in the eye of the public

Policy

A plan that has been agreed by a business, people or organisation for people to follow and refer back to.

Procedure

A professional and established way of doing something

Prudential regulator

A regulator for The Prudential Regulation Authority which is a financial service.

PILONs

Payments in lieu of notice