Explanatory Notes

Small Business, Enterprise and Employment Act 2015

2015 CHAPTER 26

26 March 2015

Commentary on Sections

Part 7: COMPANIES: TRANSPARENCY

Register of people with significant control

Schedule 3: Register of people with significant control

Part 1: Duty to obtain information and keep register
Part 21A: Information about people with significant control
Chapter 2: Information-gathering
Exemption from information and registration requirements
790J: Power to make exemptions

423.The Secretary of State may exempt an individual or legal entity from the requirements of Part 21A where there are special reasons to do so. This provision broadly reflects section 796 of the CA 2006 (‘Notice requiring information: persons exempted from obligation to comply’).

424.The effect of the exemption is set out in subsection (2) and provides that no information on such persons need be held by the company or provided to the registrar.