The PSC register is used to keep track of historic and current appointments of People of Significant Control within your company. It MUST document all PSCs and be updated as soon as a change has occurred.
A PSC is anyone in a company who:
- owns more than 25% of the company’s shares
- holds more than 25% of the company’s voting rights
- holds the right to appoint or remove the majority of directors
- has the right to, or actually exercises significant influence or control
- holds the right to exercise or actually exercises significant control over a trust or company that meets one of the first 4 conditions