Companies House Register of People with Significant Control (PSC register)

All charities in Northern Ireland that are also companies are being advised of a new requirement under company law, which has now taken effect.

As of 6 April 2016 all companies, including charitable companies, are legally obliged to maintain a register of individuals or legal entities that have control over them, otherwise known as 'people with significant control' (PSC) and ‘relevant legal entities’ (RLEs).

This means that charities which are companies will be required to register persons of significant control as well as company directors. It is important to note that PSCs may not necessarily be the charity’s trustees.

The introduction of the PSC register is one of a number of changes to the Companies Act 2006 brought about by the Small Business, Enterprise and Employment Act 2015.

The aim is to promote transparency by obliging UK companies to be open about who exercises significant control over them.

The Department for Business, Energy and Industrial Strategy (previously the Department for Business, Innovation and Skills) has produced detailed guidance on the requirements, which you can access by clicking on the following external link: Guidance for companies and limited liability partnerships (LLPs) on the register of people with significant control (PSC) requirements

For more information on the PSC register you can also contact Companies House.

ENDS