House of Lords and House of Commons Agree on PSC Register Regulations

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As noted in the Corporate & Financial Weekly Digest edition of February 5, the UK Government on January 25 published two regulations in relation to new requirements for UK-incorporated companies and UK-formed limited liability partnerships (LLPs) to keep a register of people with significant control (PSC Register).

The House of Lords and House of Commons have now agreed to the text of those regulations. The regulations are set to go into effect on April 6 and will require all UK-incorporated companies and UK-formed LLPs to keep a PSC Register and to file that information with Companies House beginning June 30.

For further information, see previous Corporate & Financial Weekly Digest editions from January 8 and August 14, 2015.

A copy of the official report as published in the House of Commons’ Parliamentary Debates can be found here.

A copy of the House of Lords’ Daily Hansard can be found here.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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