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Company register of Persons with Significant Control

Posted on 2nd April 2016
New legislation

From 6 April 2016 limited companies must keep a register of 'Persons with Significant Control' (or PSC's).

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Julie Temple Julie
Temple
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Whilst limited companies must have the register in place by 6 April 2016, it must then be filed with Companies House by 30 June 2016.

A PSC is a person who meets one or more of the following conditions:

  • Direct or indirect ownership of more than 25% of a company’s shares.
  • Direct or indirect control of more than 25% of a company’s voting rights.
  • Direct or indirect right to appoint or remove a majority of the board of company directors.
  • Exercises or has the right to exercise a significant influence or control over a company.
  • Exercise or has the right to exercise significant influence or control over the activities of a trust or firm which itself meets one or more of the first four conditions.
You can find out more about this requirement here.

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