People with significant control for Sole Directors

[Aleida Strowger]

Hi all, I am in the final stages of application to form a CIC limited by guarantee, and until I have recruited more Directors, I am the sole Director of the company.

With this in mind, I do not know how to answer Part 5 of the NI01: People with significant control (PSC). If I put myself down, then it will be in conflict with my Article of Association, which states that all Directors will have equal control, apart from when there is only one director.

Has anyone else had this issue? I have read this government doc, but can't seem to get anything relevant from it: https://assets.publishing.service.gov.uk/government/uploads/system/...

Any advice very much appreciated.

Aleida

[John Mulkerrin]

No conflict Aleida, when you add Directors the PSC will need updating.

Ownership of voting rights, 75% or more is for you now.

Best of luck

[Aleida Strowger]

Thanks John, that's very helpful to know. I may now finally be ready to submit my application :-)