PART 2Amendment of registration requirement for Scottish Limited Partnerships
Amendment of the Limited Partnerships Act 19074
1
The Limited Partnerships Act 1907 is amended as follows.
2
In section 8A (application for registration), after subsection (3), insert the following subsections—
4
An application for registration of a limited partnership whose principal place of business is to be situated in Scotland must contain a statement of initial significant control.
5
The statement of initial significant control must—
a
state whether, on registration, there will be any person who will count as either a registrable person or a registrable relevant legal entity in relation to the limited partnership for the purposes of regulation 10 of the Scottish Partnerships PSC Regulations (duty to investigate and obtain information),
b
include the required particulars of any person identified under paragraph (a), and
c
if there is no person identified under paragraph (a), state that fact.
6
It is not necessary to include under subsection (5)(b) the date on which a person becomes a registrable person or a registrable relevant legal entity in relation to the limited partnership.
7
If the statement of initial significant control includes required particulars of a registrable person, it must also contain a statement that those particulars are included with the knowledge of that individual.
8
In this section—
“the Scottish Partnerships PSC Regulations” means the Scottish Partnerships (Register of People with Significant Control) Regulations 2017;
“registrable person”, “registrable relevant legal entity” and “required particulars” have the same meaning as in the Scottish Partnerships PSC Regulations.