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The Register of People with Significant Control Regulations 2016

Draft. This instrument was laid in draft and may differ from the one made. Look for the made version under its title.

Draft 2016, ISBN 9780111143018

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Draft Regulations laid before Parliament under sections 790B(4), 790C(13), 790M(8), 790ZG(5), 1088(6), 1290, 1292(3) and 1292(4) of, and paragraph 25(7) of Schedule 1A to, the Companies Act 2006, for approval by resolution of each House of Parliament.

Companies

Made ***

Coming into force in accordance with regulation 1(2)

The Secretary of State makes the following Regulations in exercise of the powers conferred by sections 243, 790B(1)(b), 790C(7)(d), 790C(12), 790K(5), 790M(7), 790O(2), 790ZF, 790ZG, 1088 and 1292 of, and paragraph 25(5)(b) of Schedule 1A and paragraphs 12(1) and (2) of Schedule 1B to, the Companies Act 2006f1.

In accordance with sections 790B(2) and 790C(11) the Secretary of State is satisfied that the shares of a company or legal entity which are described in regulations 3 and 4 of these Regulations are bound by disclosure and transparency rules broadly similar to the ones applying to DTR5 issuers.

In accordance with sections 790B(4), 790C(13), 790M(8), 790ZG(5), 1088(6), 1290, 1292(3) and 1292(4) of, and paragraph 25(7) of Schedule 1A to, that Act, a draft of this instrument was laid before Parliament and approved by a resolution of each House of Parliament.

Annotations to the whole text

Footnotes

f1

2006 c.46; sections 790A to 790ZG, Schedule 1A and Schedule 1B were inserted by Schedule 3 to the Small Business, Enterprise and Employment Act 2015 (c.26). Section 243 is relied upon in its own right and as applied with modifications by section 790ZF. See section 1167 for the meaning of “prescribed”.

Contents

  1. Part 1: GENERAL INTRODUCTORY PROVISIONS
  2. 1Citation and commencement
  3. 2Interpretation
  4. Part 2: APPLICATION AND FEES
  5. 3Companies to which Part 21A of the Act does not apply
  6. 4Legal entities which are subject to their own disclosure requirements
  7. 5Modification for persons covered by section 790C(12) of the Act
  8. 6Fee for a copy of a company’s PSC register
  9. Part 3: NATURE OF CONTROL AND FOREIGN LIMITED PARTNERS
  10. 7Particulars required as to nature of control
  11. 8Characteristics of a foreign limited partner
  12. Part 4: ADDITIONAL MATTERS
  13. 9Additional matters to be noted in a PSC register
  14. 10Additional matters where there is no registrable person or registrable relevant legal entity
  15. 11Additional matters where there is an unidentified registrable person
  16. 12Additional matters where an identified registrable person’s particulars are not confirmed
  17. 13Additional matters where a company’s investigations are ongoing
  18. 14Additional matters where there is a failure to comply with a notice given under section 790D of the Act
  19. 15Additional matters where there is a failure to comply with a notice given under section 790E of the Act
  20. 16Additional matters where a notice given under section 790D or section 790E of the Act is complied with after the time specified in the notice
  21. 17Additional matters where a company has issued a restrictions notice
  22. Part 5: WARNING AND RESTRICTIONS NOTICES
  23. 18Content of a warning notice
  24. 19Content of a restrictions notice
  25. 20Failure to comply with a section 790D or 790E notice: valid reason
  26. 21Withdrawal of a restrictions notice
  27. Part 6: THE PROTECTION OF USUAL RESIDENTIAL ADDRESS INFORMATION
  28. 22Permitted disclosure of usual residential address information by the registrar to specified public authorities
  29. 23Permitted disclosure of usual residential address information by the registrar to credit reference agencies
  30. 24Circumstances where the registrar must refrain from disclosure of usual residential address information
  31. 25Application by an individual requiring the registrar to refrain from disclosing that individual’s usual residential address information to a credit reference agency
  32. 26Application by a company requiring the registrar to refrain from disclosing an individual’s usual residential address information to a credit reference agency
  33. 27Application by a subscriber to a memorandum of association requiring the registrar to refrain from disclosing an individual’s usual residential address information to a credit reference agency
  34. 28Matters relating to an application made under regulation 25, 26 or 27
  35. 29Withdrawal of an application made under regulation 25, 26 or 27
  36. 30Appealing against a determination made under regulation 25, 26 or 27
  37. 31Duration of a determination made under regulation 25, 26 or 27
  38. 32Revocation of a determination made under regulation 25, 26 or 27
  39. Part 7: THE PROTECTION OF SECURED INFORMATION
  40. 33Circumstances where the registrar must omit secured information from material on the register available for public inspection
  41. 34Circumstances where the registrar must not use or disclose secured information
  42. 35Fee payable for the disclosure by the registrar of secured information
  43. 36Application by an individual requiring the registrar to refrain from using or disclosing that individual’s secured information
  44. 37Application by a company requiring the registrar to refrain from using or disclosing an individual’s secured information
  45. 38Application by a subscriber to a memorandum of association requiring the registrar to refrain from using or disclosing an individual’s secured information
  46. 39Matters relating to an application made under regulation 36, 37 or 38
  47. 40Withdrawal of an application made under regulation 36, 37 or 38
  48. 41Appealing against an unsuccessful application made under regulation 36, 37 or 38
  49. 42Unsuccessful determination made under regulation 36, 37 or 38
  50. 43Duration of a determination under regulation 36, 37 or 38
  51. 44Revocation of a determination under regulation 36(5), 37(5) or 38(5)
  52. 45Protection by a company of secured information
  53. Part 8: TRANSITIONAL PROVISIONS, AMENDMENTS TO THE 2009 REGULATIONS AND REVIEW
  54. 46Transitional provision regarding the protection of secured information
  55. 47Transitional provision for the purpose of section 790K
  56. 48Amendments to the 2009 Regulations
  57. 49Review
  58. Signature
  59. Schedule 1LIST OF MARKETS
  60. Schedule 2: PARTICULARS REQUIRED AS TO NATURE OF CONTROL
  61. Part 1: First Condition
  62. 1Paragraph 1
  63. 2Paragraph 2
  64. 3Paragraph 3
  65. Part 2: Second Condition
  66. 4Paragraph 4
  67. 5Paragraph 5
  68. 6Paragraph 6
  69. Part 3: Third Condition
  70. 7Paragraph 7
  71. Part 4: Fourth Condition
  72. 8Paragraph 8
  73. Part 5: Fifth Condition and Trusts
  74. 9Paragraph 9
  75. 10Paragraph 10
  76. 11Paragraph 11
  77. 12Paragraph 12
  78. 13Paragraph 13
  79. 14Paragraph 14
  80. 15Paragraph 15
  81. 16Paragraph 16
  82. Part 6: Fifth Condition and Firms
  83. 17Paragraph 17
  84. 18Paragraph 18
  85. 19Paragraph 19
  86. 20Paragraph 20
  87. 21Paragraph 21
  88. 22Paragraph 22
  89. 23Paragraph 23
  90. 24Paragraph 24
  91. Part 7: Interpretation of Schedule 2
  92. 25Paragraph 25
  93. Schedule 3SPECIFIED PUBLIC AUTHORITES
  94. Schedule 4: CONDITIONS FOR PERMITTED DISCLOSURE
  95. Part 1: Disclosure to Specified Public Authorities
  96. 1Paragraph 1
  97. 2Paragraph 2
  98. 3Paragraph 3
  99. 4Paragraph 4
  100. 5Paragraph 5
  101. Part 2: Disclosure to a Credit Reference Agency
  102. 6Paragraph 6
  103. 7Paragraph 7
  104. 8Paragraph 8
  105. 9Paragraph 9
  106. 10Paragraph 10
  107. 11Paragraph 11
  108. 12Paragraph 12
  109. Part 3: Interpretation of this Schedule
  110. 13Paragraph 13
  111. Schedule 5: AMENDMENTS TO THE 2009 REGULATIONS
  112. 1Paragraph 1
  113. 2Paragraph 2
  114. 3Paragraph 3
  115. 4Paragraph 4
  116. 5Paragraph 5
  117. 6Paragraph 6
  118. 7Paragraph 7
  119. 8Paragraph 8
  120. 9Paragraph 9
  121. Explanatory note