Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

PSC definition

What does PSC mean? PSC describes, in practice, an individual who ultimately owns or controls a UK company, LLP or certain Scottish partnerships. It is a statutory concept: “person with significant control” is defined in the Companies Act 2006, Part 21A and Schedule 1A (mirrored for LLPs and Scottish limited/qualifying Scottish partnerships). A person is a PSC if they meet any statutory condition, including: holding more than 25% of shares; holding more than 25% of voting rights; having the right to appoint or remove a majority of the board; otherwise exercising significant influence or control; or exercising such control through a trust or firm. Where...

UK PSC regime under ECCTA 2023: abolition of company registers, duties to identify and notify Companies House, scope, conditions, deadlines, protection and inspection

Published by a LexisNexis Corporate expert

Practice notes

Corporate transparency reform—company registers

The people with significant control (psc) register supplies clearer, up-to-date details on who ultimately owns and directs companies and other entities, with this data publicly accessible on the central register maintained by companies house. It assists investors when weighing up potential investments in a company, and it also aids law enforcement bodies in investigating money laundering. The regime came into force on 6 April 2016 under Part 21A of the Companies Act 2006 (CA 2006), inserted by Schedule 3 to the Small Business, Enterprise and Employment Act 2015. For simplicity, this document uses ‘company’ and ‘companies’ to describe entities required to keep a psc register. See Practice Note: PSC register—the people with significant control regime for an overview of the whole PSC regime.

ECCTA 2023 amends CA 2006 to abolish the obligation on a company to maintain its own register of people with significant control (PSC register). Instead, a duty to notify the Registrar of equivalent information is introduced. These changes took effect on 18 November 2025, with limited exceptions and subject to transitional provisions. The updated framework concerning...

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Web page updated on 22/05/2026

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