The government has published updated statutory guidance on the meaning of “significant influence or control” over companies in the context of the regime for people with significant control (PSCs).
The updated guidance was laid in Parliament in draft in January this year, following changes to the PSC regime in particular as a result of amendments introduced by the Economic Crime and Corporate Transparency Act 2023 (see our blog post here). The guidance has now been adopted as the formal statutory guidance, replacing the version published in June 2017.
For more details on the PSC regime, see our Corporate Governance Fundamentals: A guide to the PSC regime for UK legal entities.
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