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17 March 2017 / Ben Simpson
Issue: 7738 / Categories: Features , Commercial
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Taking control

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When does a person exercise significant influence or control over the activities of a trust, asks Ben Simpson
  • The impact of the shadow directorship test in the PSC regime on persons who influence trusts.

From 6 April 2016, UK companies, limited liability partnerships (LLPs) and other entities have had to keep a register of persons who have significant control over them (PSCs). The regime for registering PSCs (the PSC regime) is likely to be changed with effect from 26 June 2017 to include other entities, such as Scottish Limited Partnerships and Scottish Partnerships. Indirect economic interests in relevant UK entities are also likely to be caught from 26 June 2017.

Companies and LLPs have to record their PSCs in their first confirmation statement filed after 30 June 2016. In addition, a person incorporating a new company or LLP has to send to Companies House a statement of initial persons with significant control together with the other documents required for an application to incorporate.

A direct or indirect interest in a UK company which attributes

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MOVERS & SHAKERS

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Sponsored by
Arc Pensions Law—Matthew Swynnerton

Arc Pensions Law—Matthew Swynnerton

Chair of the Association of Pension Lawyers joins as partner

Ampa Group—Kamal Chauhan

Ampa Group—Kamal Chauhan

Group names Shakespeare Martineau partner head of Sheffield office

Blake Morgan—four promotions

Blake Morgan—four promotions

Four legal directors promoted to partner across UK offices

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An obscure Victorian tort may be heading for an unexpected revival after a significant Privy Council ruling that could reshape liability for dangerous escapes, according to Richard Buckley, barrister and emeritus professor of law at the University of Reading
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