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Identifying a Person with Significant Control (PSC) 

A PSC is an individual who meets one or more of the following conditions:

  Company LLP
1 Holds more than 25% of shares Holds rights over more than 25% of surplus assets on a winding-up
2 Holds more than 25% of voting rights Holds more than 25% of the voting rights
3 Holds the right to appoint or remove the majority of the board of directors Holds the right to appoint or remove the majority of those involved in management
4 Has the right to exercise, or actually exercises, significant influence or control Has the right to exercise, or actually exercises, significant influence or control
5 Holds the right to exercise, or actually exercises, significant influence or control over a trust or firm (not a legal entity) which would satisfy one or more of conditions 1 – 4 if it were an individual Holds the right to exercise, or actually exercises, significant influence or control over a trust or firm (not a legal entity) which would satisfy one or more of conditions 1 – 4 if it were an individual


Significant Influence or Control

Companies with no PSC

A PSC must be an individual.

If a company (or LLP) is owned or controlled by a legal entity rather than an individual then it must be included on the PSC register if that legal entity it is both relevant and registrable i.e. a 'Registrable Relevant Legal Entity' (RLE).

Exemptions

The only entities which are not required to maintain a PSC register are those which

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