The Department for Business, Innovation and Skills (BIS) has published a consultation paper, including draft legislation (the Register of People with Significant Control Regulations 2015), which sets out how the new People with Significant Control Register will operate: see here (pdf). The Regulations cover: the scope of the register; how the nature of control is recorded on the register; the fees that companies can charge in making available information on the register; the circumstances in which certain information can be withheld from the public register; and how companies can compel others to provide information.
Update (23 June 2015): an updated consultation paper was published today. The update contained this announcement from BIS: there will be a delay in the introduction of the ban on appointing corporate directors, originally scheduled for October 2015. According to the consultation paper, it will now come into force in April 2016.
Monday, 22 June 2015
UK: PSC Register - draft legislation published
The Department for Business, Innovation and Skills (BIS) has published a consultation paper, including draft legislation (the Register of People with Significant Control Regulations 2015), which sets out how the new People with Significant Control Register will operate: see here (pdf). The Regulations cover: the scope of the register; how the nature of control is recorded on the register; the fees that companies can charge in making available information on the register; the circumstances in which certain information can be withheld from the public register; and how companies can compel others to provide information.
Update (23 June 2015): an updated consultation paper was published today. The update contained this announcement from BIS: there will be a delay in the introduction of the ban on appointing corporate directors, originally scheduled for October 2015. According to the consultation paper, it will now come into force in April 2016.
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