The Scottish Partnerships (Register of People with Significant Control) Regulations 2017 No. 694 xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
Introductory Text
PART 1 General Introductory Provisions
1.Citation and commencement
2.Interpretation
3.Key terms
PART 2 Amendment of registration requirement for Scottish Limited Partnerships
4.Amendment of the Limited Partnerships Act 1907
PART 3 Registration of Scottish qualifying partnerships
5.Duty on Scottish qualifying partnerships to register
6.Registration information
7.Notification of changes to the registration information
8.Effect of a partnership ceasing to be a Scottish qualifying partnership
9.Offences in relation to registration
PART 4 Information duties
10.Duty to investigate and obtain information
11.Duty to keep information up to date
12.Failure by an eligible Scottish partnership to comply with information duties
13.Duty on others to supply information
14.Duty on others to update information
15.Enforcement of disclosure requirements
16.Power to make exemptions
17.Required particulars
18.Nature of control over an eligible Scottish partnership
PART 5 Duties to deliver information to the registrar
19.Duty to deliver information to the registrar
20.Duty to deliver information about a relevant change
21.Meaning of “confirmed”
22.Usual residential address
23.Additional matters to be notified to the registrar where there is no registrable person or registrable relevant legal entity
24.Additional matters where there is an unidentified registrable person
25.Additional matters where an identified registrable person's particulars are not confirmed
26.Additional matters where investigations by an eligible Scottish partnership are ongoing
27.Additional matters where there is a failure to comply with a notice given under regulation 10
28.Additional matters where there is a failure to comply with a notice given under regulation 11
29.Additional matters where a notice given under regulation 10 or 11 is complied with after the time specified in the notice
30.Additional matters where an eligible Scottish partnership has issued a restrictions notice
31.End-dating of additional matters
32.Offences in relation to this Part
33.Information as to the state of the register
34.Power of court to order an eligible Scottish partnership to remedy default or delay
PART 6 Confirmation statement
35.Duty to deliver a confirmation statement
36.Meaning of “confirmation period” and “confirmation date”
37.Review period
38.Failure to deliver a confirmation statement
PART 7 The protection of usual residential address information
39.Information as to usual residential address
40.Restriction on use or disclosure of URA information by an eligible Scottish partnership
41.Restriction on use or disclosure of URA information by the registrar
42.Permitted use or disclosure by the registrar
43.Disclosure under court order
PART 8 The protection of secured information
44.Circumstances in which the registrar must omit secured information from material on the register available for public inspection
45.Circumstances in which the registrar must not use or disclose secured information
46.Fee payable for the disclosure by the registrar of secured information to a specified public authority
47.Fee payable for the disclosure by the registrar of secured information to a credit institution or a financial institution
48.Application by an individual requiring the registrar to refrain from using or disclosing that individual's secured information
49.Application by an eligible Scottish partnership requiring the registrar to refrain from using or disclosing an individual's secured information
50.Application by a prospective partner in a prospective eligible Scottish partnership requiring the registrar to refrain from using or disclosing an individual's secured information
51.Matters relating to an application made under regulation 48, 49 or 50
52.Withdrawal of an application made under regulation 48, 49 or 50
53.Appeal against an unsuccessful application made under regulation 48, 49 or 50
54.Unsuccessful determination made under regulation 48, 49 or 50
55.Duration of a determination under regulation 48, 49 or 50
56.Revocation of a determination under regulation 48(5), 49(5) or 50(5)
57.Protection by an eligible Scottish partnership of secured information
PART 9 Application of the Companies Act 2006
58.Application of Part 35 of the Companies Act 2006
59.
60.
61.
61A.Section 1087ZA of the Companies Act 2006 (required particulars available...
62.
63.
64.
65.
66.
67.
67A.Section 1095A of the Companies Act 2006 (rectification of register...
68.
69.
70.Application of Part 36 of the Companies Act 2006
71.
72.
73.
74.
75.Application of Part 37 of the Companies Act 2006
76.
77.Interpretation of this Part
PART 10 Consequential amendments, transitional provision, and review
78.Consequential amendment to the Companies Act 2006
79.Consequential amendment to the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009
80.Transitional provision in relation to regulations 78 and 79
81.Consequential amendment to the Limited Partnerships (Forms) Rules 2009
82.Protection for registrable persons applying for protection of secured information
83.Review
Signature
SCHEDULE 1
References to people with significant control over an eligible Scottish partnership
PART 1 The specified conditions
1.Introduction
2.Ownership of right to surplus assets on a winding up
3.Ownership of voting rights
4.Ownership of right to appoint or remove the persons entitled to manage the eligible Scottish partnership
5.Significant influence or control
6.Trusts, partnerships etc.
PART 2 Holding an interest in an eligible Scottish partnership etc.
7.Introduction
8.Holding an interest
9.Interests held through a legal entity
PART 3 Interpretation of Schedule 1
10.Introduction
11.Joint interests and joint arrangements
12.The right to surplus assets of an eligible Scottish partnership on a winding up
13.Right held “indirectly”
14.Voting rights and the right to appoint or remove persons entitled to take part in management
15.Rights held by nominees
16.Rights treated as held by person who controls their exercise
17.Rights exercisable only in certain circumstances etc.
18.Rights attached to shares held by way of security
19.Meaning of “significant influence or control”
SCHEDULE 2
Enforcement of disclosure requirements
1.Right to issue restrictions notice
2.Relevant interests
3.Effect of restrictions notice
4.Protection of third party rights
5.Breach of restrictions
6.(1) A person guilty of an offence under paragraph 5...
7.Relaxation of restrictions
8.Orders for sale
9.(1) If a relevant interest is sold in pursuance of...
10.The power of an eligible Scottish partnership to withdraw restrictions notice
11.Content of a warning notice
12.Content of a restrictions notice
13.Failure to comply with a regulation 10 or 11 notice: valid reason
14.Withdrawal of a restrictions notice
15.Offences for failing to comply with notices
16.Offences for failing to provide information
SCHEDULE 3
Statements required as to the nature of control
PART 1 First Condition
1.A statement that the person holds, directly or indirectly, the...
2.A statement that the person holds, directly or indirectly, the...
3.A statement that the person holds, directly or indirectly, the...
PART 2 Second Condition
4.A statement that the person holds, directly or indirectly, more...
5.A statement that the person holds, directly or indirectly, more...
6.A statement that the person holds, directly or indirectly, 75%...
PART 3 Third Condition
7.A statement that the person holds the right, directly or...
PART 4 Fourth Condition
8.A statement that the person has the right to exercise,...
PART 5 Fifth Condition and Trusts
9.A statement that— (a) the person has the right to...
10.A statement that— (a) the person has the right to...
11.A statement that— (a) the person has the right to...
12.A statement that— (a) the person has the right to...
13.A statement that— (a) the person has the right to...
14.A statement that— (a) the person has the right to...
15.A statement that— (a) the person has the right to...
16.A statement that— (a) the person has the right to...
PART 6 Fifth Condition and Firms
17.A statement that— (a) the person has the right to...
18.A statement that— (a) the person has the right to...
19.A statement that— (a) the person has the right to...
20.A statement that— (a) the person has the right to...
21.A statement that— (a) the person has the right to...
22.A statement that— (a) the person has the right to...
23.A statement that— (a) the person has the right to...
24.A statement that— (a) the person has the right to...
PART 7 Interpretation of Schedule 3
25.In this Schedule— (a) paragraph 12 of Schedule 1 has...
SCHEDULE 4
Specified public authorities
SCHEDULE 5
Conditions for permitted disclosure
PART 1 Disclosure to Specified Public Authorities
1.The specified public authority has delivered to the registrar a...
2.Subject to paragraph 3, the specified public authority has delivered...
3.Paragraph 2 does not apply where the specified public authority...
4.The specified public authority has delivered any information or evidence...
5.The specified public authority has complied with any requirement by...
PART 2 Disclosure to a Credit Institution or a Financial Institution
6.(1) The credit institution or financial institution, referred to in...
7.The relevant institution has delivered to the registrar a statement...
8.The relevant institution has delivered to the registrar a statement...
9.The relevant institution has delivered to the registrar a statement...
10.The relevant institution has delivered to the registrar a statement...
11.The relevant institution has delivered to the registrar a statement...
12.The relevant institution has delivered any information or evidence required...
13.The relevant institution has complied with any requirement by the...
PART 3 Interpretation of Schedule 5
14.In this Schedule— (a) “processor” means any person who provides...
SCHEDULE 6
New Schedule to the Limited Partnerships (Forms) Rules 2009
Explanatory Note