Clifford Chance

PSC Regime – Scottish Share Security

11 November 2016

Since 6 April 2016 the persons with significant control register regime ("PSC Register Regime") has been effective in the UK. Most of its consequences are now settling in the market, but there has been some uncertainty about the consequences for security trustees holding fixed security over shares in a Scottish company. It is now becoming clear that they may need to be recorded on the company's PSC register – and may have an obligation to notify the relevant companies.

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