PSC register: joint Law Society and City of London Law Society Q&A

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08 Nov 2019
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Ever since the introduction of the Register of People with Significant Control (PSC register), our members have had questions about how certain aspects work.

We have worked with the City of London Law Society and the Department for Business, Energy and Industrial Strategy (BEIS) to create a Q&A which will help all those who have to work with the PSC register.

The main purpose of the Q&A is to highlight certain areas of complexity within the regime that are not specifically covered by the PSC register, primary and secondary legislation or the related guidance issued by BEIS.

The main areas covered in the Q&A are:

  • holding shares/votes/board appointment rights
  • indirect interests/majority stake
  • trusts/funds
  • reasonable steps, restrictions and warning notices
  • position on incorporation

BEIS guidance on the PSC regime is available from GOV.UK.