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PSC Register: What is a relevant legal entity?

A PSC is by definition an individual, and not a legal entity. What if your company is owned or controlled by a legal entity, and not an individual? A legal entity must appear on the company’s PSC register if it is both relevant and registrable. A legal entity is relevant in relation to your company if it meets any one or more of the 5 conditions to being a PSC and:

  • holds its own PSC register; or
  • is subject to DTRs (disclosure and transparency rules); or
  • has voting shares admitted to trading on a regulated market in the UK or EEA (other than the UK) or on specified markets in Switzerland, the USA, Japan and Israel*

A RLE is registrable in relation to your company if it is the first relevant legal entity in the company’s ownership chain.

Where a RLE has been identified, the following details must be obtained and entered into the PSC register;

  • name of the legal entity
  • the address of its registered or principle office
  • the legal form of the entity and the law by which it is governed
  • registration details
  • date the legal entity became a RLE
  • nature of control

To learn more about the PSC Register in detail, have a look at our whitepaper, read our FAQs or get in touch for more detailed help with your PSC and other statutory registers.

 
*Specified markets: (page 25)
Israel
Tel Aviv Stock Exchange
Japan
Fukuoka Stock Exchange
Nagoya Stock Exchange
Osaka Securities Exchange
Sapporo Securities Exchange
Tokyo Stock Exchange
Switzerland
BX Berne Exchange
SIX Swiss Exchange
United States of America
BATS Exchange, Inc.
BATS Y-Exchange, Inc.
BOX Options Exchange LLC
C2 Options Exchange, Incorporated
Chicago Board Options Exchange, Incorporated
Chicago Stock Exchange, Inc.
EDGA Exchange, Inc
EDGX Exchange, Inc
International Securities Exchange, LLC
Miami International Securities Exchange LLC
NASDAQ OMX BX, Inc.
NASDAQ OMX PHLX LLC
The NASDAQ Stock Market LLC
National Stock Exchange, Inc.
New York Stock Exchange LLC
NYSE Arca, Inc.
NYSE MKT LLC

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