Context
Companies House has published updated draft guidance on people with significant control (PSCs). The guidance awaits approval by both Houses of Parliament. The existing guidance remains in force until approved.
Key points to note and next actions
- If, after 40 days, neither House has resolved that the guidance should not be approved then it will be issued and published.
- The guidance relates to the meaning of ‘significant influence or control’ over Companies in the context of the Register of People with Significant Control.
- The guidance clarifies the terminology in relation to significant influence or control, and provides examples of rights to exercise significant influence or control over a Company.