Identifying PSCs

[eteb3]

Loads of non-profits are formed as companies limited by guarantee, with two or three member-directors.

Which of the boxes do they tick when declaring a PSC?

1 [ ] Ownership of shares
2 [ ] Ownership of voting rights
3 [ ] Right to appoint directors

Clearly 1 does not apply. Equally clearly, 2 does apply.

It's 3 that I puzzle over: individually no member can appoint a director, but using their members' votes the members collectively can appoint a director.
Or is this covered by 1?

Thanks.

 

[Scalloway]

Our accountants completed them with no PSCs.

 

[eteb3]

Our accountants completed them with no PSCs.

!!

Yet on a “one member, one vote” basis (which is the norm), each member clearly controls >25% of the votes?

 

[UK Contractor Accountant]

Which of the boxes do they tick when declaring a PSC?

1 [ ] Ownership of shares
2 [ ] Ownership of voting rights
3 [ ] Right to appoint directors

4 [ ] has the right to exercise or actually exercises significant influence or control

‘Significant influence” or ‘significant control’ are alternatives and include:

• being significantly involved in the management and direction of the company (e.g. a person who is regularly consulted on and influences board decisions); and
• having recommendations always or almost always followed by those who hold the majority of the voting rights in the company.

 

[numbersrule]

2 [ ] Ownership of voting rights