GREGORY ABRAMS DAVIDSON SOLICITORS
For you, for business, for life.
Be warned – UK and EU Company Disclosure Requirements Are Changing!
PSC Register – People With Significant Control
From 6 April 2016, the majority of UK companies and LLPs will be required to maintain a register of “people with significant control”.
Who is a person with significant control (PSC)? A PSC is an individual (or legal entity – see below) who meets one or more of the following criteria in relation to a company:
● he or she holds, either directly or indirectly, the right to appoint or remove a majority of the board of directors;
● he or she holds, either directly or indirectly, more than 25% of the aggregate nominal share capital;
● he or she has the right to exercise, or actually exercises, significant influence or control over the company;
● he or she holds, either directly or indirectly, more than 25% of the voting rights; or
● he or she has the right to exercise, or actually exercises, significant influence or control over the activities of a trust or firm which is not a legal entity, but would meet any of the above conditions if it were an individual.
The price of failure to take action may be significant for both the company (or LLP) and PSCs.
The EU will be implementing similar legislation over the next couple of years.
Beginning 30 June 2016, the information included in this register will need to be filed with Companies House annually and will be available for public inspection.
UK public companies with shares quoted on certain markets (e.g. the Main Market of the London Stock Exchange, AIM and ISDX) are not obliged to maintain a register, but their various UK incorporated subsidiaries must comply, just as with any other private company.
This is only a brief overview. Should you like to discuss this issue and what your company requirements are likely to be, please contact Jonathan Abrams, Corporate solicitor and Partner in our Corporate team.
Liverpool City Centre: 20/24 Mathew Street, Liverpool L2 6RE
Liverpool – Penny Lane: 123 Penny Lane, Liverpool, L18 1DF
London – North West: 746 Finchley Road, Temple Fortune, Golders Green, London, NW11 7TH
Whilst our solicitors are based in one location, we are always happy to try to make an appointment to meet you in any of our office locations, if this is more convenient for you.
© 2025 Gregory Abrams Davidson Solicitors
Gregory Abrams Davidson Solicitors and GAD Commercial are trading names of National Law Partners Limited, registered in England and Wales under number 08312439 and are Authorised and Regulated by the Solicitors Regulation Authority, under number 646548. Gregory Abrams Davidson Solicitors registered office: 20-24 Mathew Street, Liverpool, L2 6RE. VAT Registration Number: 290 6677 68.