The first three conditions are pretty straightforward. You can usually work out if an individual meets any of them by looking at the company\u2019s register of members<\/a> and\/or reviewing the articles of association<\/a>. However, conditions 4 and 5 cover a more broad range of scenarios, so it can be more challenging to identify individuals to whom these criteria apply.<\/p>\n Understanding the confirmation statement and PSC register<\/span><\/a>\n \n For example, a person may hold a right that constitutes significant influence or control but not actually exercises that right. Conversely, a person may have the power to influence the decisions of the directors or shareholders without having any official right to do so. In each case, the individual would normally be classed as a PSC and should be registered as such.<\/p>\n There are excepted roles and relationships that do not result in those individuals being classed as a PSC. These include people who:<\/p>\n Almost any individual, whether a natural person or non-human legal entity, in any country, can be a person with significant control, including:<\/p>\n PSC legislation does not impose a minimum age requirement for people with significant control.<\/p>\n Disqualified directors are prohibited from forming or running a company or instructing a third party to form or run a company on their behalf and under their direction. However, they are allowed to own shares in a company, which has resulted in a grey area of the law with regards to disqualified directors being PSCs in a company.<\/p>\n Unless the court has granted permission to act in such capacity, disqualified directors who own more than 25% of the shares in a company and\/or meet any of the other qualifying conditions of a PSC should exercise extreme caution to avoid breaching the terms of their disqualification order.<\/p>\n In the context of PSCs, the term \u2018significant influence or control\u2019 refers to the type of power that a person has over a company\u2019s activities.<\/p>\n Significant influence and control can manifest in a variety of ways. Below, we provide some examples of what is meant by this ambiguous terminology.<\/p>\n The following types of companies must identify people with significant control and record their details in a PSC register:<\/p>\n Companies, SEs, and LLPs are required to keep their own PSC register. Eligible Scottish partnerships (ESPs, and general Scottish partnerships with solely corporate partners) do not have to keep a PSC register, but they must deliver PSC information to Companies House to be disclosed on the central register of companies.<\/p>\n Further information on PSC requirements can be found in the PSC guidance from GOV.UK<\/u><\/a> and the following legislation:<\/p>\n When PSCs have been identified, their details must be recorded in the company\u2019s statutory PSC register.<\/p>\n This information must also be sent to Companies House, where it is recorded and disclosed on the central register of companies, which is available to the public online.<\/p>\n How to register a PSC for a company<\/span><\/a>\n \n Any changes to the companies PSCs should be immediately updated on the statutory PSC register and reported to Companies House on the next confirmation statement.<\/p>\n Excepted roles and relationships<\/h4>\n
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Who can be a person with significant control?<\/h3>\n
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Can a disqualified director be registered as a PSC?<\/h4>\n
What does \u2018significant influence or control\u2019 mean?<\/h3>\n
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Which types of companies have PSCs?<\/h3>\n
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Registering people with significant control in a company<\/h3>\n
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