Paragraph 1 C1F1
This paragraph applies if—
a notice under section 790D F2, 790DA, 790E or 790EA is served by a company on a person who has a relevant interest in the company, and
the person fails to comply with that notice within the time specified in it.
The company may give the person a notice under this paragraph (a “warning notice”) informing the person that it is proposing to issue the person with a notice (a “restrictions notice”) with respect to the relevant interest.
The company may issue the restrictions notice if, by the end of the period of one month beginning with the date on which the warning notice was given—
the person has not complied with the notice served under section 790D F3, 790DA, 790E or 790EA, and
the company has not been provided with a valid reason sufficient to justify the person's failure to comply with the notice served under that section.
A restrictions notice is issued on a person by sending the notice to the person.
The effect of a restrictions notice is set out in paragraph 3.
In deciding whether to issue a restrictions notice, the company must have regard to the effect of the notice on the rights of third parties in respect of the relevant interest.
Annotations
Textual amendments
- F1
Schs. 1A, 1B inserted (26.5.2015 for specified purposes, 6.4.2016 in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 3 para. 2; S.I. 2015/1329, reg. 3(a); S.I. 2015/2029, reg. 4(a)
- F2
Words in Sch. 1B para. 1(1)(a) substituted (26.10.2023 for specified purposes, 18.11.2025 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b), Sch. 2 para. 20(2)(a); S.I. 2025/1118, reg. 2(1)(i)(4)
- F3
Words in Sch. 1B para. 1(3)(a) substituted (26.10.2023 for specified purposes, 18.11.2025 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b), Sch. 2 para. 20(2)(a); S.I. 2025/1118, reg. 2(1)(i)(4)
Modifications
- C1
Sch. 1B applied (with modifications) by S.I. 2009/1804, reg. 31N (as inserted (6.4.2016) by The Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016 (S.I. 2016/340), regs. 1(3), 3, Sch. 1 and as amended (18.11.2025) by S.I. 2025/1033, regs. 1(3)(c), 8(8) (with regs. 12-16); S.I. 2025/1118, reg. 2(1)(i))
Notes on Schedule 1B
Modifications
- C2
Sch. 1B applied (with modifications) by S.I. 2009/2436, Sch. 1 para. 20B (as inserted (26.6.2017) by The Information about People with Significant Control (Amendment) Regulations 2017 (S.I. 2017/693), regs. 2, 36 (with Sch. Pt. 3))