Every company is mandated to identify and document individuals with significant control (PSC) who either own or exert control over the company. This necessitates the maintenance of a People with Significant Control (PSC) register, in addition to other existing registers such as the Register of Directors, Register of Members, and Register of Charges. Companies must also report PSC information to Companies House when submitting their Confirmation Statement. An officer within each company is responsible for identifying individuals with significant control and verifying their information. Details of PSCs must be recorded in the company s PSC register within 14 days (about 2 weeks) of identification. Moreover, any changes in PSC information must be promptly updated in the company s PSC register within 14 days and reported to Companies House within the same timeframe. Additionally, confirmation of PSC information on the central public register must be submitted to Companies House once every 12 months.
These conditions also necessitate specifying the levels of shares and voting rights within the following categories:
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