Persons with Significant Control

For most companies, the maintenance of the PSC register is automatic as the system creates the register based on the shareholdings recorded in the system. For this to work, any shares that carry voting rights must have the checkbox ticked in the definition of the share class. See Setting up classes of shares for more information. Using this information, the application will automate entries in the register for any member that has more than 25% of the voting rights and will update these as shares are issued and transferred.

If you do not want the application to automate the generation of the PSC register, this can be turned off on a company by company basis. (although we do not recommend this) We recommend checking for any possible duplicate people and then checking the share allocations again.

It is also possible to add manual entries to the register without turning off the automation to reflect control exercised other than by shareholdings. Entries added using this feature will not be updated by the system but need to be reviewed and maintained manually.

1. To display the PSC register for the active company, select Company | Details |Persons of significant control | PSC register:

2. Click Switch OFF automatic calculation of the register to turn off the automated entries in the register

3. Click Add a PSC register entry to add a manual entry to the register

4. Enter the details and select the reason for the entry from the radio button list