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PSC Register: What is a relevant legal entity (RLE)?

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 PSC Whitepaper, read our PSC FAQs or contact us 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
     

UK Company Formations

 

 


Author: Lee Date 

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