Persons with significant control: a proposal to reveal who controls your company
By Sian Sadler
The government has unveiled the detail of proposed new legislation that will require companies to keep a new register of persons with significant control.
The Small Business, Enterprise and Employment Bill, published on 25 June 2014, follows the government’s announcement of measures designed to increase transparency in the ownership and control of UK companies.
The measures will apply to all UK companies, other than those that are subject to chapter 5 of the Financial Conduct Authority’s Disclosure and Transparency Rules. This means that companies listed on the London Stock Exchange and AIM will be exempt from the new requirements…
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