Our Corporate Governance Expert Group contributed to our response to the BIS consultation – Enhancing transparency of beneficial information of foreign companies undertaking certain activities in the UK.
We noted the importance of assessing how UK companies adjust to the new PSC Register over the next two years before suggesting further measures for foreign companies.
We commented that the DTR 5 exemption used in the new PSC regime should be replicated in any property and procurement regime so that the only requirement needed for a company is to identify being, or being a subsidiary undertaking of, a DTR 5 issuer.
