Registers: members, directors, secretaries and PSCs

Register of Members

Companies can no longer elect to keep their register of members on the central register at Companies House (CH). They must maintain it internally as a local register.

The full names of all shareholders must be recorded and their addresses. The name must include both forename (rather than initial or abbreviation) and surname. Where the shareholder is a nominee for another person or entity, this will also have to be noted on the company's register of members with details of the beneficial owner's name and address.

A new duty will be imposed on members to notify to companies the information required to be included on the register of members (being the member’s full name and a service address) and any changes to that information. Companies will also be able to serve a notice on members requiring them to provide the information. Failure to supply the information or making a false statement will be a criminal offence.

A full list of shareholders (including the number of shares of each class held by that shareholder) will need to be provided with the first annual confirmation statement filed following the Economic Crime and Corporate Transparency Act 2023’s implementation. Whilst the Act received Royal Assent on 26th October 2023, no timetable for full implementation has yet been set. However, companies would be advised to start planning for this and make sure that they have all necessary information and systems in place to comply with the new regime.

Other statutory registers

There will no longer be a requirement for UK companies to maintain a:

• register of directors,
• register of directors’ residential addresses,
• register of secretaries, or
• PSC register.

These statutory registers will all be abolished and the information they contain will be maintained at and by CH on the central register. They will automatically be updated when a filing is made. Changes to the information contained in each register will however still need to be notified to CH, therefore the onus is on companies individually to notify CH of any changes to the details of directors and PSCs. This increases the importance of making timely and accurate filings with CH. Companies should check their current internal records against information held at CH and make any filings necessary to correct inaccurate information. They may also wish to consider whether, in any event, they still wish to maintain internal records following the abolition of these statutory registers.