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News

13th April 2016

 
 

Register of People with Significant Control

From 6th April 2016 companies, Limited Liability Partnerships (“LLPs”) and Societas Europaea (“SEs”) need to keep a register of their 'people with significant control' (“PSC”).  A PSC is someone in a company who:

  • owns more than 25% of the company’s shares;
  • holds more than 25% of the company’s voting rights;
  • holds the right to appoint or remove the majority of directors;
  • has the right to, or actually exercises significant influence or control; or
  • holds the right to exercise or actually exercises significant control over a trust or company that meets any of the other four conditions.

Companies, LLPs and SEs will need to keep their PSC as part of their company register, as these will need to be available for inspection.

From 30th June, companies, LLPs and SEs will also need to start submitting this information when filing confirmation statements, or when they are incorporated.

For more information please contact Jonathan Masucci on 01622 759051 or by email to jonathan.masucci@gillturnertucker.com

 
 
 

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