Register of People with Significant Control

❗ PLEASE BE AWARE THAT THE ECONOMIC CRIME & CORPORATE TRANSPARENCY ACT 2023 IS BEING IMPLEMENTED IN PHASES AND MAY CHANGE SOME OF THE TEMPLATES BELOW.

Under the Companies Act 2006, as amended by the Economic Crime and Corporate Transparency Act 2023, most UK companies (and LLPs) are required to identify the people with significant control over them (PSCs) and provide this information to Companies House where this information is publicly recorded. This includes those who own or control (directly or indirectly) more than 25% of the entity. Companies (and LLPs) are required to file this information with Companies House.

When Should You Use These Templates?

✅ you need to identify who the PSCs are (including indirect ownership or control)
✅ you need to request or confirm PSC information using statutory notices
✅ you need to keep the PSC position up to date following a change in ownership or control
✅ you need a clear record of the steps taken and the replies received
✅ you are providing this information to Companies House

What Does The Law Require?

Companies must:

Take reasonable steps to identify those who should be registered on the PSC register
Contact these people. or other who might know them, to confirm whether they meet one or more of the conditions to qualify as a PSC
Obtain the relevant information to be reported to Companies House
Enforce, if necessary by sending notices, warning notices and possible issuing restrictions
File the information at Companies House to be made available on the central public register
Constantly monitor the situation to keep the information up to date

❗ Important: Even if a company has no interests to be registered (or is dormant), it must comply with the regime and provide accurate PSC information to Companies House in a timely manner. The register cannot be left blank. Criminal sanctions apply for non-compliance.

This group of templates aims to guide companies, their directors, secretaries and administrators through the process of identifying, collecting and updating information about PSCs and providing all relevant information to Companies House.

Companies should consider seeking independent legal advice if they are not familiar with the requirements or the consequences of the PSC regime under the Companies Act 2006.

These templates are drafted by experienced corporate solicitors and reflect the Companies Act 2006.

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