PSC register for eligible Scottish partnerships
PSC register for eligible Scottish partnerships

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • PSC register for eligible Scottish partnerships
  • Law and guidance
  • Which legal entities must investigate their PSCs?
  • Which persons or entities should be recorded on a PSC register?
  • Eligible Scottish partnerships—who are 'people with significant control'?
  • Registration of a Scottish limited partnership
  • Registration of a Scottish qualifying partnership
  • Understanding the Conditions in greater detail
  • Other ownership arrangements related to Conditions 1–3
  • Eligible Scottish partnerships—what is 'significant influence or control'?
  • more

BREXIT IMPACT: Several aspects of the PSC regime will be affected by Brexit, including:

  1. the availability of the Societas Europaea (SE) in the UK. For further details see Practice Note: Brexit—European entities

  2. references to regulated markets in the EEA in Part 21A of the Companies Act 2006, which will be amended in accordance with paragraphs 10 and 11 of Schedule 1 to The Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) (EU Exit) Regulations 2019 (SI 2019/348) (the EU Exit Regulations)

  3. references to the EEA in Schedule 2 to The Companies (Disclosure of Address) Regulations 2009 and Schedule 4 to The Register of People with Significant Control Regulations 2016, which will be amended in accordance with paragraphs 9, 10, 13 and 14 of Schedule 2 to the EU Exit Regulations

  4. references to regulated markets and the EEA in regulations 2 and 3, and in Schedule 5 to The Scottish Partnerships (Register of People with Significant Control) Regulations 2017, which will be amended in accordance with paragraphs 15–18 of Schedule 2 to the EU Exit Regulations

Partnerships formed under the law of Scotland have distinct legal status under section 4 of the Partnership Act 1890.

An eligible Scottish partnership (ESP) is:

  1. a limited partnership registered in Scotland under the Limited Partnership Act 1907 (Scottish limited partnership (SLP)), or

  2. a general partnership which

Related documents: