At least three months notice must be given to customers following any decision to end the guarantee, and fixed term accounts will retain the guarantee for the term of the product.

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Lucy expected to be able to spend the rest of her days here but two weeks ago she - along with her fellow residents - was handed a letter by the owners - the Royal Bank of Scotland Care Homes Foundation - giving her three months notice.

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Drivers departing from the company have to give three months' notice, yet on average it takes about 12 months to train a new driver.

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They would also be entitled to three months' notice.

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Instead of a three-year lock-in they would have to agree only to a three-month notice period followed by three months of inactivity.

ECONOMIST: The battle at Lazard

The committee previously raised concern over the decision to give the former boss of Transport Scotland a pay-off equivalent to six months salary, when his notice period was three months.

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The government also proposes reducing the notice period for dismissal from six months to three.

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This would be capped at 12 months for compulsory redundancy and 21 months for voluntary redundancy, with all civil servants entitled to a three-month notice period.

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