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Are you PSC ready?

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Steve J Bicknell

I want you

From the 30th June 2016 all companies will be required to prepare a PSC Register.

You need to start keeping a register of your people with significant control (PSC).

A PSC is someone in your company who:

  • owns more than 25% of the company’s shares
  • holds more than 25% of the company’s voting rights
  • holds the right to appoint or remove the majority of directors
  • has the right to, or actually exercises significant influence or control
  • holds the right to exercise or actually exercises significant control over a trust or company that meets any of the other 4 conditions.

You’ll need to keep your PSC as part of your company register, as these need to be available for inspection.

PSC BBA v2

Failure to comply will result in fines and up to 2 years in prison!

steve@bicknells.net

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