{"id":71844,"date":"2016-06-30T15:55:47","date_gmt":"2016-06-30T15:55:47","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=00c2407f122c6cd41073776818e65867"},"modified":"2016-06-30T15:55:47","modified_gmt":"2016-06-30T15:55:47","slug":"news-story-people-with-significant-control-companies-house-register-goes-live","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=71844","title":{"rendered":"News story: \u2018People with Significant Control\u2019 Companies House register goes live"},"content":{"rendered":"<div class=\"govspeak\">\n<p>The <a href=\"https:\/\/www.gov.uk\/government\/publications\/guidance-to-the-people-with-significant-control-requirements-for-companies-and-limited-liability-partnerships\">People with Significant Control (<abbr title=\"people with significant control\">PSC<\/abbr>) register<\/a> includes information about the individuals who own or control companies including their name, month and year of birth, nationality, and details of their interest in the company.<\/p>\n<p>From 30 June 2016, <abbr title=\"United Kingdom\">UK<\/abbr> companies (except listed companies) and limited liability partnerships (<abbr title=\"limited liability partnerships\">LLPs<\/abbr>) need to declare this information when issuing their annual confirmation statement to Companies House.<\/p>\n<p>A person of significant control is someone that holds more than 25% of shares or voting rights in a company, has the right to appoint or remove the majority of the board of directors or otherwise exercises significant influence or control. This information will form a central public register of people with significant control, which is free to access.<\/p>\n<p>The Prime Minister first put corporate transparency on the international agenda when he chaired the <abbr title=\"Group of 8 major advanced economies: Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States.\">G8<\/abbr> summit in Lough Erne and secured commitment to action, the commitment to enhance corporate transparency in the <abbr title=\"United Kingdom\">UK<\/abbr> was reaffirmed at London\u2019s International Anti-Corruption Summit in May 2016. Since then the <abbr title=\"European Union\">EU<\/abbr> and <abbr title=\"Group of 20 major economies: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States, and the European Union\">G20<\/abbr> countries have also agreed to act. The <abbr title=\"United Kingdom\">UK<\/abbr> is the first country in the <abbr title=\"Group of 20 major economies: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States, and the European Union\">G20<\/abbr> to create a public register of this kind.<\/p>\n<p>The <abbr title=\"United Kingdom\">UK<\/abbr> has high standards of business behaviour and corporate governance. The overwhelming majority of <abbr title=\"United Kingdom\">UK<\/abbr> companies contribute productively to the <abbr title=\"United Kingdom\">UK<\/abbr> economy, abide by the law and make a valuable contribution to society. But there are exceptions.<\/p>\n<p>Some of the features of the company structure which make it good for business also make it attractive to criminals. Companies can be misused to facilitate a range of criminal activities &#8211; from money laundering to tax evasion, corruption to terrorist financing. Sometimes those individuals running companies will not conduct themselves in accordance with the high standards we expect in the <abbr title=\"United Kingdom\">UK<\/abbr>, posing a risk to other companies and consumers alike.<\/p>\n<p>Information about the ownership and control of <abbr title=\"United Kingdom\">UK<\/abbr> corporate entities will bring benefits for law enforcement, business, civil society and citizens. By making this information publicly available, free of charge, the government is setting a standard that we are persuading other countries to follow.<\/p>\n<div class=\"call-to-action\">\n<p><a href=\"https:\/\/www.gov.uk\/government\/publications\/guidance-to-the-people-with-significant-control-requirements-for-companies-and-limited-liability-partnerships\">Read the guidance on the register of people with significant control (<abbr title=\"people with significant control\">PSC<\/abbr>)<\/a>.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>From today (30 June 2016) companies will have to declare who owns or controls them to Companies House.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/71844"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=71844"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/71844\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=71844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=71844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=71844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}