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Register of People with Significant control (UK only for now)

21 March 2016

Within the meaning of the Act significant control means recording the names of those people that own or control that company. Typically this means where an individual holds more that 25% of the shares or voting rights of the company or where an individual holds the right to appoint or remove a majority of the Board of Directors. It also includes circumstances where an individual has the right to exercise, or exercises significant control or influence over the company. This information will be also required to be included in all UK Company annual returns from 30 June onwards.

As this legislation is European based , it is expected that Ireland will follow the UK lead on this in due course.

Find out more about PSC register guidance