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In the UK, the regime "On controlling persons of companies" was changed


In accordance with the regime, most companies and partnerships with limited liability (hereinafter referred to as SLP) must create and maintain a register of persons who are PSC (people with significant control) controllers. This rule was designed to increase the transparency of companies' actions.

Since June 26, 2017, the rules regulating the regime "On the people with significant control" (hereinafter - the PSC regime) have come into force. Thus, the UK fulfills the requirements of the Fourth European Directive "On combating money-laundering" (EU 2015/849).

Three significant changes were made:
1. The list of companies subject to the requirements of the PSC regime is expanded;
2. The extension of the PSC regime to the Scottish limited partnerships, the Scottish partnerships with partners - corporate organizations; To unregistered companies in the UK.
3. A requirement is established according to which each entity subject to the requirements of the PSC is obliged to update its register and notify Companies House within 14 days from the date of the changes to the PSC, and also annually to confirm the relevance of the data.

Thus, changes in the PSC regime entail significant changes in the disclosure of information on mergers and acquisitions. So, if earlier the change of the owner was not disclosed before the submission of the company's annual confirmation report, now the register should be updated within the established terms.

A source:

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