PSC register for LLPs—steps to be taken and completion of the register
PSC register for LLPs—steps to be taken and completion of the register

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

  • PSC register for LLPs—steps to be taken and completion of the register
  • Which persons or entities should be recorded on a PSC register?
  • Who are 'people with significant control' of LLPs?
  • RLEs and group structures
  • Non-registrable entities and fund structures
  • Duty of LLP to investigate
  • Duty of LLP to update information
  • Updating the LLP’s own maintained PSC register
  • Filing the information on the central register
  • Confirming the content of the central public register (the confirmation statement)
  • More...

PSC register for LLPs—steps to be taken and completion of the register

Coronavirus (COVID-19) IMPACT: Certain aspects of the PSC regime are affected by temporary measures introduced to mitigate the consequences of the coronavirus pandemic (see Part 2 of The Companies etc (Filing Requirements) (Temporary Modifications) Regulations 2020), for example the deadline to notify the registrar of changes to the PSC register is increased from 14 to 42 days. The temporary provisions expire at the end of 5 April 2021. For further information see Practice Note: Coronavirus (COVID–19)—impact on company filing and administrative procedures.

The framework of the people with significant control (PSC) regime, which originally took effect on 6 April 2016, is set out in Part 21A of the Companies Act 2006 (CA 2006). The primary legislation is supported, for companies, by The Register of People with Significant Control Regulations 2016, SI 2016/339 (the PSC Regulations, as amended by the Information about People with Significant Control (Amendment) Regulations 2017, SI 2017/693 (2017 Regulations)). LLPs incorporated under the Limited Liability Partnerships Act 2000 are also required to maintain a register of people with significant control over the LLP under the Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016, SI 2016/340 (the LLP Regulations), as amended by the 2017 Regulations.

The PSC regime aims to address concerns about the opaque nature of business ownership, whereby

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