Persons with Significant Control & Relevant Legal Entities.
Investigate. Identify. Register.
From 6 April 2016 most companies and limited liability partnerships have been required to keep a register of people or legal entities that have control of them. This register is in addition to the existing registers of directors and members etc. and cannot be blank. From 30 June 2016, this register must be delivered annually to the central public register at Companies House. On behalf of your company you now must:
- Take reasonable steps to find out if there are people who have significant control over the company;
- Contact anyone you identify as potentially having significant control over the company to confirm whether they meet the criteria and, if they do, obtain the required information to complete the register;
- Put the information gathered in a register of persons with significant control;
- File the information at Companies House to be recorded on the central public register;
- Keep this information up to date.
Failure to comply with these requirements is a criminal offence. It is also a criminal offence for a person who does have significant control of a company to refuse to provide the relevant information.
The following summary is a guide to help identify persons with significant control and relevant legal entities, and sets out what information you must record in the company’s register. Specific wording is required in certain circumstances and complex group and ownership structures may require greater detail than is within the scope of this guide.