I refer to my communication of 18th August regarding the registration of a PSC at Company Formation.
Following on from this, as of the morning of Thursday 21st October 2021, all incorporation applications for a private company limited by shares submitted through the XML Gateway will be validated for the inclusion of a PSC, if the company has a single person shareholder that holds 100% of the company’s shares.
If the private company limited by shares has a single person shareholder that holds 100% of the company’s shares, and no PSC is provided, then the submission will fail XMLGW validation with the following message.
You provided a single person shareholder with 100% of the company’s shares, but indicated that the company has no PSC. The company must have a PSC in this case and their details must be provided. Any shareholder that holds more than 25% of the company’s shares is considered to be a PSC.
SDN