Hi All, we have had a few CICs (limited by guarantee) reporting to Companies House that certain directors are persons with significant control, although they don't make this explicit in their governing documents. It is causing all kinds of problems for joint directors and funding bodies. I think they are misenterpreting what person of significant control means. Happening anywhere else? Thanks
Definitely coming across confusion, but no more than any other element of the ownership structure/process. The rules around psc seem to be deliberately vague to ensure as wide as group as possible is brought under the declaration.
What issues are you encountering?
There is usually a key individual in CICs, if decision making by groups its usually the Chair. Its not the level of ownership you have, its the level of influence. Subjective!