PSCs & RLEs (Persons with Significant Control & Relevant Legal Entities) – PSC08 & PSC09
What are PSC08 statements? A company is required by law to determine which individuals (PSC) or relevant legal entities (RLE) have significant control over it. The company must record this in their company registers and inform Companies House. See here for more information.
In addition, a company is also required to add certain statements to its registers and notify Companies House if it:
- does not have a PSC/RLE (ie positive confirmation that the PSC/RLE register does not contain any names);
- has a PSC/RLE but is still in the process of determining who the PSC/RLE is or their details; or
- has a PSC/RLE and has issued a notice to the PSC/RLE (or suspected PSC/RLE) asking them to provide information to enable the company to comply with its obligations.
These are known as PSC08 statements.
Can I add a PSC/ RLE to a company when there is a PSC08 statement? It depends!
- If your PSC08 statement says that the entity does not have any PSC/RLE, then you cannot add a PSC/RLE to the registers until you have removed the PSC08 – they two are mutually exclusive. If you try, Companies House will reject the filing as the PSC08 says that the company does not have any PSC/RLE. It seems a bit odd that you need to do this as the fact that you are trying to add a new PSC/RLE makes the PSC08 statement invalid, but you have to remove the PSC08 first.
- If you have another PSC08 statement, you should be able to add details of the new PSC/RLE as the two facts (as PSC08 statement and a PSC/RLE) are not mutually exclusive.
What are PSC09 statements? When a PSC08 statement ceases to be correct, the company has to add another statement to the registers and notify Companies House of the change. These are known as PSC09 statements.
E.g. A company has a PSC08 statement that it has no PSC/RLE, but then something changes which means it now has a PSC/ RLE. It is not enough just to add the PSC/RLE to the register. The company first has to add the PSC09 statement and file that at Companies House (to say that the PSC08 statement is no longer correct) and then add the PSC to the register and file that at Companies House. In fact, if you try to file details about a new PSC/RLE when you have a PSC08 in place, Companies House will reject the filing. It’s all quite long winded and complex, but don’t worry: It’s all very easy and quick to do in Kudocs (much quicker than reading all of this!) Read the PSC09 guide to find out more.