Overview
A Person with Significant Control (PSC) is someone or multiple individuals who own or have ownership over a company.
Most People with Significant Control are those who hold:
- More than 25% of shares in the company
- More than 25% of voting rights in the company
- The right to appoint or remove the majority of the board of directors
How to nominate a PSC
From the Main Toolbar, go to Company |
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Select the Company from the list |
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Select Members |
Click
Select Add People with Significant Control
To view or reprepare previously recorded dividends you can select View People with Significant Control
Instructions
CAS 360 will display the People with Significant Control screen.
Contact
Field
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Explaination
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Name | Select the contact to become a PSC for the company. |
Status | To appoint a PSC select Appoint To dismiss a PSC select Ceased |
Appointed Date | Select the date that the contact is becoming a PSC |
Register Entry Date | Select the date that the register will be updated. |
Date Ceased | Select the date that the PSC is leaving the register. This option will only appear if the Status is selected to be Ceased. |
Notes | You can just enter any relevant notes. |
Nature of Control
Choose the Nature of Control that best matches the PSC's level of control, or select multiple options if relevant.
Nature of Control Individual
- The individual holds, directly or indirectly 25%-50% shares of the company
- The individual holds, directly or indirectly 50%-75% shares of the company
- The individual holds, directly or indirectly greater than 75% shares of the company
- The individual holds, directly or indirectly 25%-50% voting rights of the company
- The individual holds, directly or indirectly 50%-75% voting rights of the company
- The individual holds, directly or indirectly greater than 75% voting rights of the company
- Ownership or the right to appoint or remove the majority of the board of Directors
- Has the right to exercise or actually exercise significant control or influence over the company
Nature of Control Company
- The Company holds, directly or indirectly 25%-50% shares of the company
- The Company holds, directly or indirectly 50%-75% shares of the company
- The Company holds, directly or indirectly greater than 75% shares of the company
- The Company holds, directly or indirectly 25%-50% voting rights of the company
- The Company holds, directly or indirectly 50%-75% voting rights of the company
- The Company holds, directly or indirectly greater than 75% voting rights of the company
- Ownership or the right to appoint or remove the majority of the board of Directors
- Has the right to exercise or actually exercise significant control or influence over the company
Nature of Control Trust
- The trust holds, directly or indirectly 25%-50% shares of the company
- The trust holds, directly or indirectly 50%-75% shares of the company
- The trust holds, directly or indirectly greater than 75% shares of the company
- The trust holds, directly or indirectly 25%-50% voting rights of the company
- The trust holds, directly or indirectly 50%-75% voting rights of the company
- The trust holds, directly or indirectly greater than 75% voting rights of the company
- Ownership or the right to appoint or remove the majority of the board of Directors
- Has the right to exercise or actually exercise significant control or influence over the company
Documents Prepared
Document Type
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Options
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Form PSC01 - Notice of Person of Significant Control |
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Form PSC07 - Notice of Ceasing to be a Person with Significant Control |
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Register of Significant Controller |
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