Register of relevant legal entities
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What’s a register of relevant legal entities and when do you need one?
RLEs, like persons with significant control over a business (PSCs), enjoy a position of real influence when it comes to the running of your business.
RLEs may direct the activities of the business, with little to no counterweight to their decision-making position, i.e. they can veto proposals or decisions made by others, remove or appoint key personnel, make decisions on profit sharing, bonus and incentive schemes, or recommend or and influence others who are in charge – who almost always follow these recommendations or instructions.
This register is part of our suite of registers, often called the ‘statutory books’, that a limited company must have in place.
Other registers within this suite include:
- Register of debentures
- Register of directors
- Register of directors' interests
- Register of directors' residential address
- Register of members and share ledger
- Register of secretaries
- Register of persons with significant control (PSCs)
- Register of mortgages and charges
- Register of share applications and allotments
- Register of transfers
Not all of these will be relevant to your business in its initial stages of setup and development – but many, if not all, of them, will be relevant as your business grows. You will need to have them in place and to keep them up to date.