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...

PSC regime under the Companies Act 2006: duties, identity verification and ECCTA 2023 reforms abolishing company PSC registers, with application to companies, LLPs and Scottish partnerships from 18 November 2025

Published by a LexisNexis Corporate expert

Practice notes

The framework of the people with significant Control (PSC) regime

Introduced on 6 April 2016, the people with significant control (PSC) regime is grounded in Part 21A of the Companies Act 2006 (CA 2006), as updated by sections 81–83 and Schedule 3 of the Small Business, Enterprise and Employment Act 2015 (SBEEA 2015), and by sections 44, 51 and Schedule 2 of the Economic Crime and Transparency Act 2023 (ECCTA 2023). It was devised to curb opacity in corporate ownership, where records often noted only the legal, not the beneficial, holder of shares. The PSC register provides accurate, up-to-date details on who ultimately owns or controls companies and other entities, and this information is publicly accessible on the central registry at Companies House. It informs investors weighing an investment and assists law enforcement during money laundering enquiries. Data on the UK PSC regime is available as a downloadable snapshot containing the full list of PSCs supplied to Companies House. ECCTA 2023 also amends CA 2006 to abolish the requirement for a company to keep its own register of people with significant control...

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Web page updated on 21/05/2026

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