96Use or disclosure of PSC information by companiesU.K.
(1)The Companies Act 2006 is amended as follows.
(2)For section 790ZG substitute—
“790ZGPower to make regulations protecting material
(1)The Secretary of State may by regulations—
(a)require a company to refrain from using, or refrain from disclosing, relevant PSC particulars except in circumstances specified in the regulations;
(b)confer power on the registrar, on application, to make an order requiring a company to refrain from using, or refrain from disclosing, relevant PSC particulars except in circumstances specified in the regulations.
(2)“Relevant PSC particulars” means such particulars of a person with significant control over the company as may be prescribed.
(3)The reference in subsection (2) to a person with significant control over the company—
(a)includes a person who used to be such a person, but
(b)does not include any person in relation to which this Part has effect by virtue of section 790C(12) as if the person were an individual.
(4)Regulations under subsection (1)(b) may make provision as to—
(a)who may make an application;
(b)the grounds on which an application may be made;
(c)the information to be included in and documents to accompany an application;
(d)how an application is to be determined;
(e)the notice to be given of an application and its outcome;
(f)the duration of and procedures for revoking the restrictions on use and disclosure.
(5)Provision under subsection (4) may in particular—
(a)confer a discretion on the registrar;
(b)provide for a question to be referred to a person other than the registrar for the purposes of determining the application or revoking the restrictions.
(6)Regulations under this section are subject to affirmative resolution procedure.
(7)Nothing in this section or in regulations made under it affects the use or disclosure of particulars of a person in any other capacity (for example, the use or disclosure of particulars of a person in that person‘s capacity as a member or director of the company).
790ZHOffence of failing to comply with regulations under section 790ZG
(1)If a company contravenes a restriction on the use or disclosure of information imposed by virtue of regulations under subsection 790ZG, an offence is committed by—
(a)the company, and
(b)every officer of the company who is in default.
(2)A person guilty of an offence under this section is liable on summary conviction—
(a)in England and Wales, to a fine;
(b)in Scotland or Northern Ireland, to a fine not exceeding level 5 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 5 on the standard scale.”
(3)In section 1087 (material not available for public inspection), in subsection (1), for paragraph (bc) substitute—
“(bc)any application or other document delivered to the registrar under regulations under section 790ZG (protection of PSC information);”.
Commencement Information
I1S. 96 in force at Royal Assent for specified purposes, see s. 219(1)(2)(b)
I2S. 96 in force at 4.3.2024 in so far as not already in force by S.I. 2024/269, reg. 2(z38)