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Person with Significant control (PSC)

Leadership

Malathy Muthu Project Manager at Skills Enterprise Posted 2 years ago

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Dear all, 
We will be really grateful if you are able to help us with this. We are a Charity and Private company limited by guarantee without share capital. 
On 10th July, while we were changing the registered office address with Companies house, it was also asked to nominate PSC and Chairman was appointed as a PSC.
We also had a Big Lottery application for funding and the assessor saw this on our company's house site and asked us why we have a PSC.  We realised that we should not have PSC and we updated the register that we do not have PSC and informed the same to Big Lottery as well. 
Then after our update that there is no PCS, companies house is asking us to fill a form called PSC 08 and we filled this and said that we do not have a PSC and we have reasonable cause to believe that there is no registrable person.  The  reason we believe that we do not have PSC ----THe PSC register was set up really to cater for non-charitable businesss as the government wanted a clearer picture of which individuals or companies owned or could control a company.  In business, some Chairs have significant control because they have 51% of the voting rights or more than 50% of the shares within the company or they can veto decisions.  That is not the case with charities/charitable companies.
We now have no PSC and we updated the companies house site as well. We just want to know if we are on the right track or if this is a concern or do we need to know anything more about this, please. 
I think the confusion comes with companies house expecting you to hold a PSC register which some charities assume they must have a PSC individual registered on the register - it does not.
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