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UK Companies Failing To Declare Controlling Interests

Lack of understanding of legislation put in place in 2017 to reduce counter fraud and money laundering has meant that thousands of UK companies are failing to declare controlling interests, according to John Carruthers of solicitors Oracle Law.

John Carruthers continued:

“Since June 2017, every company must maintain a register of Persons with Significant Control (PSCs) of companies and to record this with Companies House within 14 days. Persons with significant control are defined as those who own at least 25% of the company’s shares, who control at least 25% of its voting rights or have control over appointments to the board of directors.”

We can advise on the rules surrounding Persons with Significant Control of companies.

jc@oraclelaw.com

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ENDS                                                                                                               7th June 2018

 

Media Information:

John Carruthers

Oracle Law

jc@oraclelaw.com

 

1A Helena House

Clarkston Toll,

Busby Road,

Glasgow

G76 7RB

0141 404 1091

 

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