Explanatory note

These Regulations provide the registrar with a new power to annotate the register maintained under section 1080 of the Companies Act 2006 (c. 46) (“the 2006 Act”), with a view to providing clarity to people who inspect the register. These Regulations also make provision about the removal of material from the register by the registrar using powers contained in section 1094 of the 2006 Act, which was substituted by the Economic Crime and Corporate Transparency Act 2023 (c. 56) and which replaces narrower provisions permitting administrative removal and rectification of the register on application to the registrar. These Regulations also make provision whose purpose is to ensure that it continues to be the case that certain sensitive information about a person with significant control over a company cannot be disclosed to a credit reference agency if the person has obtained protection over that information under Part 7 of the People with Significant Control Regulations 2016 (S.I. 2016/339, “the 2016 Regulations”).

Part 2 of these Regulations empowers the registrar to annotate the register (as defined in section 1080(2) of the 2006 Act) with such information as appears to the registrar to be appropriate to address any confusion that may arise where material that was formerly considered by the registrar to form part of the register is no longer considered by the registrar to do so.

Part 3 of these Regulations makes provision in connection with the exercise by the registrar of the power in section 1094 of the 2006 Act to remove registered material. This includes provision concerning the required contents of applications for removal, the notices to be given of the receipt of applications and decisions of the registrar under section 1094 and Part 3 of these Regulations, and about periods (if any) within which people may object to the removal of material.

Part 4 of these Regulations applies the company law provisions in Parts 2 and 3 to limited liability partnerships.

Part 5 of these Regulations ensures the registrar is barred from disclosing certain sensitive information about a person with significant control over a company to a credit reference agency if that person has obtained protection over that information under the 2016 Regulations.

A full Impact Assessment has not been prepared for this instrument.