Putting the new PSC regime into effect
On 6 April 2016, the new “persons with significant control” (PSC) regime comes into effect. It is being introduced by way of changes to the Companies Act 2006 (CA 2006). From that date, UK companies and limited liability partnerships (LLPs) will be required to:
- take steps to identify the persons who have significant control over them (PSCs);
- establish certain details relating to those PSCs; and
- keep a register of their details, known as the PSC register.
From 30 June 2016 onwards, companies and LLPs will need to send their PSC information to Companies House with the new confirmation statement, which replaces the annual return. Companies House will maintain the PSC information in a central public register.
Putting the new PSC regime into effect – March 2016 [click here for briefing]
Ella Leonard, Partner, Fladgate LLP (eleonard@fladgate.com)
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