What is the PSC (People with Significant Control or Influence) Register and what is a PSC?

UK companies, SEs, LLPs and ESPs are required to identify and record the people who own or control their company. Companies, SEs and LLPs need to keep a register of people with significant influence or control (PSCs) in relation to them, in addition to existing registers such as the register of directors and register of members (shareholders), and must file the PSC information with the central public register at Companies House. SEs and LLPs need to refer to the full guidance. ESPs are not required to keep their own register but must file their PSC information with the central public register at Companies House. They should also refer to the full guidance. The full guidance for companies, guidance for PSCs, and separate guidance for LLPs and ESPs is available below.<br/><br/>

A PSC in relation to a company1 is an individual who:<br/><br/>

holds, directly or indirectly, more than 25% of a company's shares (Condition 1);<br/><br/>

holds, directly or indirectly, more than 25% of a company's voting rights (Condition 2);<br/><br/>

holds, directly or indirectly, the right to appoint or remove a majority of the company's directors (Condition 3);<br/><br/>

has the right to exercise, or actually exercises, significant influence or control over the company (Condition 4);<br/><br/>

or,<br/><br/>

where shares or rights in a company are held by a trust or partnership which meets one of these conditions, an individual who has the right to exercise, or actually exercises, significant influence or control over the trust or partnership may also be a PSC in relation to the company (Condition 5).

Previous