![]() Guidance for people with significant control updated to version 2 and PSC guidance for companies, LLPs and SEs updated to version 4.Ĭorrection in Chapter 7 to the section on ‘Rights exercisable only in certain circumstances’. New version of 'draft LLP statutory guidance for the PSC register' added. New version of 'company statutory guidance for the PSC register' added, which is no longer in draft. Reference to BIS changed to BEIS due to department name change. ![]() Guidance updated to reflect changes to the PSC regime in June 2017. We advise you to download the document or print from a different browser. They are provided here in draft.įirefox users may have problems printing this guidance. This means they will be laid in parliament on the 6 April 2016, and will come into force after sitting in Parliament for 40 days. The LLP statutory guidance cannot be laid in Parliament until the LLP regulations have come into force. If approved, it will have a statutory footing. The companies’ statutory guidance has been laid in draft before Parliament and is awaiting approval. There is separate statutory guidance for companies (including SEs) and LLPs. The statutory guidance is required to explain how that term should be interpreted. This is a specific guide to the meaning of one term in the PSC legislation - ‘significant influence or control’ is included in the fourth and fifth specified conditions for being a person with significant control. Statutory guidance on the meaning of significant influence or control The Department welcomes comments on how these guides might be improved, please see the contact page in each of the documents. This provides all the information that PSCs need to know in order to comply with the new requirements. This guidance provides a detailed explanation of the PSC requirements for individuals who may be PSCs. ![]() Very complicated or large ownership or control structures may need to seek independent advice. This should provide all the information that most companies need to complete their PSC registers. This guidance provides a detailed explanation of the PSC requirements for companies. If you have a simple company ownership and control structure, you may not need to read additional guidance. This guidance provides a broad overview on the PSC requirements for companies. General guidance explaining what you must do to comply with the PSC requirements. These guides have been prepared by the Department for Business, Energy and Industrial Strategy with the help of business, civil society and legal experts. These requirements introduce new legal duties and those failing to comply could be committing a criminal offence and could be fined and/or imprisoned.
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