If the legal entity is registered in a county that has a central register of one-stop shops open to the public, you can register that entity as a relevant registrable legal entity (RLE) – essentially the corporate equivalent of a CSP. Indeed, the public can access the public register and know who the senior officials of the company are. Your PSC record must be available for inspection at the company`s head office or at only one other inspection location (SAIL). If this is not possible, you must enter a declaration in your registry explaining why this information is not available. Eligible Scottish partnerships do not need to keep their own register, but they must send their PSC information to Companies House. Any information that is no longer correct must be updated within 14 days of becoming aware of the change. Any changes to your business, such as a share transfer, will require you to determine if this will affect your PSC registry. Some individuals may have requested that their PFC information be protected from publication in the commercial register. A significant controlling person (CSP) is any person who exercises significant influence or control over an enterprise.

You have identified your CSPs and now need to submit their information. Below are the details required for each type of PSC: A company subject to Part 21A of the Companies Act 2006 must take reasonable steps to determine whether there is a registrable person in relation to that company and, if so, to identify that person in the PSC register. If the Corporation has not yet identified a person whom it reasonably believes to be registered (section 11 of the PSC Regulations): “The Corporation has not yet taken reasonable steps to determine whether there is a registrant or a registrable legal entity with respect to the Corporation.” This condition only applies in certain circumstances. You should read the PSC`s full guidelines and seek professional advice if you think this applies to your business. You may also send us PSC information using third-party software. If the trust or company exercises any type of control, you must register all trustees or members/associates of the company as PSC of your company and register this information with Companies House. You must provide your PSC information to Companies House when registering your business and within 14 days of any changes. A change may consist of adding or removing a notification about a PSC or changing the personal data of an existing PSC. Although the person is only required to fulfill one of the specified conditions, the Company must test a person`s interest in the shares or rights against each of the specified conditions. The PSC register must reflect both the extent of an individual`s control over the business and the nature of the control by explaining what specified conditions are met. You must also indicate the date on which they became a one-stop shop for your company and the nature of their control (see points 1 to 5 mentioned above). Your CFP could influence or control your business in other ways.

This can be done directly or on behalf of another person. “The Company has identified a registrable person in relation to the Company, but all required information about that person has not been confirmed.” You should consult your company`s membership register for information on shareholders and voting rights. A person with significant control (CFP) is a person who owns or controls your business. They are sometimes referred to as “beneficial owners”. You must identify your MFF and tell us who it is. It could be you or someone related to your business. A business may have one or more one-stop shops. The Department of Business, Energy and Industrial Strategy released guidance in June 2017 that provides examples of actions a company could take to meet the duty to take reasonable measures. A company should do what it thinks a reasonable person would do if that person had the information they had. In particular, the company should: A legal entity must be registered in the company`s register of points of single contact if it is both relevant and registrable. A legal entity is relevant to your business if it meets one or more of the 5 conditions to be a PSC and: If the business has not otherwise completed its investigations (section 13 of the PSC Regulations): Your PSF register must contain information on all of the company`s PSCs.

Companies are required to keep the information in their PSC register up to date, and failure to do so may result in criminal sanctions imposed on the company`s directors, in particular a fine or imprisonment (or both). You must record any changes to your PSC information in your company`s PSC log, such as a change in personal data or type of control. You must do so within 14 days of the change. A significant controlling person (CSP) is a person, corporation or other legal entity that owns or controls your business. They are sometimes referred to as “beneficial owners”. You have the right to exercise significant influence or control over the activities and management of a limited liability company or LLP. Refusing to provide information about PSC is a criminal offense and you may apply restrictions on your actions or voting rights. Below is a basic guide on the type of business that needs to keep a PSC register: It often happens that a shareholder company is the PSC of a company. In this case, the shareholder company would be designated as a “relevant legal entity” (LEI) and would have to be treated in much the same way as an individual CSP.

We have considered individuals, ELBs, joint shareholders and trusts to be private security companies, but there are other legal entities that we have not yet covered.