I have a client who is sole director and shareholder of 2 Private Ltd Companies . call them A and B .
Coy A is fully owned by Coy B as coy B holds 100% of the shares in A.
The Director of coy B holds 100% shares in Coy B therefore indirectly controls Coy A.
Ive reviewed the PSC requirements for Ltd companies but i still cannot determine if its the Director of B that shoud go on the PSC register of coy A or if it should be both the Director and Coy B.
One of the difficulties i am encountering is: I am trying to determine if Coy B is Relevant ( as stipulated under section 2.2.2 of the Guidance on the register of people with significant control) but I cannot tell if the company (as a private coy ) is subject to Chapter 5 of the FCAs Disclosure and Transparency rules .