Company’s duty to give notices to persons with significant control
(1) A company to which this Part applies must give a notice to a person under this section if—
(a) the company knows or has cause to believe that the person is a registrable person or a registrable relevant legal entity in relation to the company, but
(b) the company has not had confirmation of the person’s status as a registrable person or registrable relevant legal entity or has not had confirmation of all of the required particulars of the person (see section 790K).
(2) The notice must require the person—
(a) to inform the company whether the person is a registrable person or a registrable relevant legal entity in relation to the company, and
(b) if they are, to give the company all of the required particulars of the person (see section 790K).
(3) The notice must require the person to whom it is given to comply with the notice by no later than the end of the period of one month beginning with the day on which it is given.
(4) The company must give the notice—
(a) as soon as reasonably practicable after the company becomes subject to the duty to give a notice under this section, and
(b) in any event before the end of the period of 14 days beginning with the day on which the company becomes so subject.
(5) A company is not required to give a notice under this section to a person if—
(a) the application for the registration of the company contained a statement of initial significant control naming the person as someone who would, on the company’s incorporation, become a registrable person or a registrable relevant legal entity in relation to the company, and
(b) the company has no cause to believe that at any time since its incorporation the person has ceased to be a registrable person or a registrable relevant legal entity in relation to the company.
(6) The Secretary of State may by regulations make further provision about the giving of notices under this section, including provision about their form and content and the manner in which they must be given.
(7) Regulations under subsection (6) are subject to negative resolution procedure.
Company’s duty to find out about changes in PSC information
(1) This section applies if a company—
(a) knows or has cause to believe that there has been a change in the required particulars of a registrable person or a registrable relevant legal entity in relation to the company (see section 790K), but
(b) has not had confirmation that the change has occurred or has not had confirmation of all of the information that the company would need to include in a notice of the change under section 790LD(1) or 790LE(1).
(2) The company must give the person a notice requiring the person—
(a) to inform the company whether the change has occurred, and
(b) if it has, to give the company the information that the company would need to include in a notice of the change under section 790LD(1) or 790LE(1).
(3) The notice must require the person to whom it is given to comply with the notice by no later than the end of the period of one month beginning with the day on which it is given.
(4) The company must give the notice—
(a) as soon as reasonably practicable after the company becomes subject to the duty to give a notice under subsection (2), and
(b) in any event before the end of the period of 14 days beginning with the day on which the company becomes so subject.
(5) The Secretary of State may by regulations make further provision about the giving of notices under this section, including provision about their form and content and the manner in which they must be given.
(6) Regulations under subsection (5) are subject to negative resolution procedure.
Failure by company to comply with information duties
(1) If a company fails, without reasonable excuse, to comply with a duty under section 790CB, 790D, 790DA(3), 790E, 790EA, 790EB, 790EC, 790ED, 790EE or 790EF to take steps or give a notice, an offence is committed by—
(a) the company, and
(b) every officer of the company who is in default.
(2) A person guilty of an offence under this section is liable—
(a) on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both);
(b) on summary conviction—
(i) in England and Wales, to imprisonment for a term not exceeding twelve months or a fine (or both);
(ii) in Scotland, to imprisonment for a term not exceeding twelve months or to a fine not exceeding the statutory maximum (or both);
(iii) in Northern Ireland, to imprisonment for a term not exceeding six months or to a fine not exceeding the statutory maximum (or both).
Duty to notify company on becoming PSC
(1) This section applies to a person if—
(a) the person knows that they are a registrable person or a registrable relevant legal entity in relation to a company,
(b) the material in the register that is available for public inspection does not indicate the person’s status as a registrable person or registrable relevant legal entity in relation to the company, and
(c) the person—
(i) has not informed the company of the person’s status as a registrable person or registrable relevant legal entity in relation to the company, or
(ii) has not given the company all of the required particulars of the person (see section 790K).
(2) The person must—
(a) inform the company of the person’s status as a registrable person or registrable relevant legal entity in relation to the company, and
(b) give the company the required particulars (see section 790K).
(3) The person must comply with the duty in subsection (2) before the end of the period of one month beginning with the day on which the conditions in subsection (1) are met.
Duty to notify company of changes in PSC information
(1) This section applies to a person if—
(a) the person knows that they are a registrable person or a registrable relevant legal entity in relation to a company,
(b) there has been a change in the required particulars of the person (see section 790K) and the person knows that to be the case, and
(c) the person has not informed the company of the change or has not given the company all of the information that the company would need to include in a notice of the change under section 790LD(1) or 790LE(1).
(2) The person must—
(a) inform the company of the change, and
(b) give the company the information that the company would need to include in a notice of the change under section 790LD(1) or 790LE(1).
(3) The person must comply with the duty in subsection (2) before the end of the period of one month beginning with the day on which the conditions in subsection (1) are met.
Enforcement of disclosure requirements
Schedule 1B contains provisions for when a person (whether an individual or a legal entity) fails to comply with —
(a) a notice under section 790D, 790DA, 790E or 790EA, or
(b) a duty under section 790G, 790H or 790HA.
Exemption from information and registration requirements
Power to make exemptions
(1) The Secretary of State may exempt a person (whether an individual or a legal entity) under this section.
(2) The effect of an exemption is—
(a) the person is not required to comply with any notice under section 790D, 790E or 790EA (but if a notice is received, the person must bring the existence of the exemption to the attention of the company that sent it),
(b) companies are not obliged to take steps or give notice under those sections to or with respect to that person,
(c) notices under section 790DA do not require anyone else to give any information about that person,
(d) the duties imposed by sections 790G 790H and 790HA do not apply to that person, and
(e) the person does not count for the purposes of any of sections 12A, 790LA, 790LC, 790LD, 790LE, 790LF, 790LG, 790LH and 790LM to 790LS as a registrable person or, as the case may be, a registrable relevant legal entity in relation to any company.
(3) The Secretary of State must not grant an exemption under this section unless the Secretary of State is satisfied that, having regard to any undertaking given by the person to be exempted, there are special reasons why that person should be exempted.
Required particulars
(1) The “required particulars” of an individual who is a registrable person are—
(a) name,
(b) a service address,
(c) the country or state (or part of the United Kingdom) in which the individual is usually resident,
(d) nationality,
(e) date of birth,
(f) usual residential address,
(g) the date on which the individual became a registrable person in relation to the company in question,
(h) the nature of his or her control over that company (see Schedule 1A), ...
(i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) In the case of a person in relation to which this Part has effect by virtue of section 790C(12) as if the person were an individual, the “required particulars” are—
(a) name,
(b) principal office,
(ba) a service address,
(c) the legal form of the person and the law by which it is governed,
(d) the date on which it became a registrable person in relation to the company in question, and
(e) the nature of its control over the company (see Schedule 1A).
(3) The “required particulars” of a registrable relevant legal entity are—
(a) corporate or firm name,
(b) ... principal office,
(ba) a service address,
(c) the legal form of the entity and the law by which it is governed,
(d) if applicable, the register of companies in which it is entered (including details of the state) and its registration number in that register,
(e) the date on which it became a registrable relevant legal entity in relation to the company in question, and
(f) the nature of its control over that company (see Schedule 1A).
(4) In this section “ name ”, in relation to an individual, means the individual’s forename and surname.
(4A) Where an individual is a peer or an individual usually known by a title, any requirement imposed by this Act to provide the individual’s name because it forms part of the required particulars under this section may be satisfied by providing that title instead of the individual’s forename and surname.
(5) The Secretary of State may by regulations make further provision about the particulars required by subsections (1)(h), (2)(e) and (3)(f).
(6) Regulations under subsection (5) are subject to negative resolution procedure.
Required particulars: power to amend
(1) The Secretary of State may by regulations—
(a) amend section 790K so as to change the “ required particulars ” in relation to—
(i) an individual who is a registrable person;
(ii) a person in relation to which this Part has effect by virtue of section 790C(12) as if the person were an individual;
(iii) a registrable relevant legal entity;
(b) repeal section 790K(4A).
(2) Regulations under this section are subject to affirmative resolution procedure.
Contains public sector information licensed under the Open Government Licence v3.0 (legislation.gov.uk).
