A guide for charities to the Persons of Significant Control (‘PSC’) Register

As a result of new rules contained in the Small Business, Enterprise and Employment Act 2015, from the 6th April 2016 most UK companies (including charitable companies) and Limited Liability Partnerships will be required to keep a Register identifying Persons of Significant Control (PSCs).

Persons of Significant Control are defined as those who hold more than 25% of the shares or voting rights in the company or the right to appoint or remove the majority of the board of directors.

The aim of the legislation is to ensure that individuals who are the ultimate beneficial owners or controllers of a company are identified and details of their interests are made public.

Our friends at Anthony Collins Solicitors  have produced an e-briefing on the legislation. You can also sign up to receive regular updates from Anthony Collins.

There is also guidance on the new regulations on the gov.uk website.

Birmingham UK. Freelance research, evaluation and policy consultant specialising in social enterprise and the third sector. I maintain the BSSEC blog and website

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