C1F1PART 21AInformation about people with significant control
Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))
CHAPTER 2Information-gathering
Duty on companies
C2C3790E
F5Company's duty to keep information up-to-dateF5Company’s duty to find out about changes in PSC information
F51
This section applies if particulars of a registrable person or registrable relevant legal entity are stated in a company's PSC register.
2
The company must give notice to the person or entity if the company knows or has reasonable cause to believe that a relevant change has occurred.
3
In the case of a registrable person, a “relevant change” occurs if—
a
the person ceases to be a registrable person in relation to the company, or
b
any other change occurs as a result of which the particulars stated for the person in the PSC register are incorrect or incomplete.
4
In the case of a registrable relevant legal entity, a “relevant change” occurs if—
a
the entity ceases to be a registrable relevant legal entity in relation to the company, or
b
any other change occurs as a result of which the particulars stated for the entity in the PSC register are incorrect or incomplete.
5
The company must give the notice
b
in any event before the end of the period of 14 days beginning with the earlier of the day after it learns of the change F2and the day after it first has reasonable cause to believe that the change has occurred.
6
The notice must require the addressee—
a
to confirm whether or not the change has occurred, and
b
if so—
i
to state the date of the change, and
ii
to confirm or correct the particulars included in the notice, and supply any that are missing from the notice.
7
Subsections (8) to (10) of section 790D apply to notices under this section as to notices under that section.
8
A company is not required to give notice under this section if—
a
the company has already been informed of the relevant change, and
b
in the case of a registrable person, that information was provided either by the person concerned or with his or her knowledge.
F51
This section applies if a company—
a
knows or has cause to believe that there has been a change in the required particulars of a registrable person or a registrable relevant legal entity in relation to the company (see section 790K), but
2
The company must give the person a notice requiring the person—
a
to inform the company whether the change has occurred, and
3
The notice must require the person to whom it is given to comply with the notice by no later than the end of the period of one month beginning with the day on which it is given.
4
The company must give the notice—
a
as soon as reasonably practicable after the company becomes subject to the duty to give a notice under subsection (2), and
b
in any event before the end of the period of 14 days beginning with the day on which the company becomes so subject.
5
The Secretary of State may by regulations make further provision about the giving of notices under this section, including provision about their form and content and the manner in which they must be given.
6
Regulations under subsection (5) are subject to negative resolution procedure.
Pt. 21A inserted (26.5.2015 for specified purposes, 6.4.2016 except for the insertion of ss. 790M(9)(c), 790W-790ZE and 30.6.2016 so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 3 para. 1; S.I. 2015/1329, reg. 3(a); S.I. 2015/2029, regs. 4(a), 5(a)