The Information about People with Significant Control (Amendment) Regulations 2017

Amendment of regulation 31E

25.—(1) Regulation 31E (register of people with significant control) is amended as follows.

(2) In paragraph (1), for “(6)” substitute “(6A)”.

(3) In paragraph (1), in the modification of section 790M(1) to (6) of the Companies Act (duty to keep register)—

(a) in subsection (2), for “once all the required particulars(1) of that individual have been confirmed” substitute “before the end of the period of 14 days beginning with the day after all the required particulars of that individual are first confirmed”,

(b) for subsection (5) substitute—

“(5) The required particulars of any entity that is a registrable relevant legal entity(2) in relation to the LLP must be entered in the register before the end of the period of 14 days beginning with the day after the LLP first has all the required particulars of that entity.”,

(c) in subsection (6)—

(i) omit “or registrable relevant legal entity”, and

(ii) for paragraphs (a) and (b) substitute—

“, the LLP must enter in the register—

(a) the changes to the required particulars resulting from the relevant change(3), and

(b) the date on which the relevant change occurred,

before the end of the period of 14 days beginning with the day after all of those changes and that date are first confirmed(4).”,

(iii) after that subsection (6) insert—

“(6A) If the LLP becomes aware of a relevant change (within the meaning of section 790E) with respect to a registrable relevant legal entity whose particulars are stated in the register, the LLP must enter in the register—

(a) the changes to the required particulars resulting from the relevant change, and

(b) the date on which the relevant change occurred,

before the end of the period of 14 days beginning with the day after the LLP first has details of all of those changes and that date.”

(4) Before paragraph (2) insert—

“(1A) Section 790M(7A) applies to LLPs, modified so that it reads as follows—

“(7A) If an LLP is required by the PSC Regulations to note an additional matter in its PSC register(5), the LLP must note the additional matter before the end of the period of 14 days beginning with the day after the requirement arises.””

(5) In paragraph (2), in the modification of section 790M(9) to (14) of the Companies Act, in subsection (9), for “and the details and date of any relevant change with respect to a person” substitute “a change to such particulars and the date of any relevant change with respect to a person”.

(1)

See section 790K of the Companies Act (as applied and modified by regulation 31D of the 2009 LLP Regulations) for the meaning of “required particulars”.

(2)

See section 790C(8) of the Companies Act (as applied and modified by regulation 31B of the 2009 LLP Regulations) for the meaning of “registrable relevant legal entity”.

(3)

See section 790E(3) of the Companies Act (as applied by regulation 31C of the 2009 LLP Regulations) for the meaning of “relevant change”.

(4)

See section 790M(9) of the Companies Act (as applied and modified by regulation 31E(2) of the 2009 LLP Regulations) for the meaning of “confirmed”.

(5)

See section 790C(10) of the Companies Act (as applied by regulation 31B of the 2009 LLP Regulations) for the meaning of “PSC register”.