New Scottish Limited Partnership Regulations 2017
Requirement to file beneficial owners/persons with significant control (PSC).
With respect to the new UK legislation that came into force in 2016, requiring UK companies to maintain a register of beneficial owners or of persons with significant control (PSC), please note that this requirement extends now to the Scottish Limited Partnerships.
The Scottish Partnerships (Register of People with Significant Control) Regulations 2017 (the “Regulations”), introduced the requirement to file a PSC for all Scottish Limited Partnerships and it is applicable as from 24th of July, 2017.
This register which is known as the PSC Register, “PSC” being an abbreviation of “Persons with Significant Control”, it is open to the public.
You have up to 7th of August 2017 to comply with this filing requirement. You can contact us to discuss your case with respect to the requirement to disclose the beneficial owner for your Scottish LP and the possible options available.