At the time of issuing this blog, the Economic Crime and Corporate Transparency Bill is still progressing its way through Parliament and is currently at the 3rd reading in the House of Lords.
To reiterate information from our earlier blog on this subject (which can be found here - Companies House Reforms - Verification of Directors and PSCs), this Bill has been proposed to tackle money laundering in the UK, which is costing more than £100 billion each year. There are major changes coming to Companies House in terms of the Bill, which will change Companies House role from a recipient of information to a more active gatekeeper in the fight against financial crime.
This blog will highlight what companies will require to consider in relation to those persons or companies or third parties who file/deliver documents to Companies House including filing for company formations, annual accounts, confirmation statements and changes to company details.
Are you filing on your own behalf?
An individual can only deliver documents about themselves (e.g., applications for protection of their own information) if they have been ID verified and on delivery of the document, includes a statement stating that the individual delivering it is ID verified (or is exempt).
Is someone else filing on behalf of the company?
This would relate to a third party who files documents on behalf of the company, for example a solicitor or accountant who acts as the registered office and/or in the capacity as company secretary for the company.
An individual may only deliver a document on behalf of another person if: -
- the individual is ID verified;
- they are registered as an individual Authorised Corporate Service Providers (ACSP);
- they are in employment of non-individual ACSP and are acting in the course of their employment; or
- they are exempt.
On delivery of a document, a statement is also required stating which of the above points applies and that the person has authority to do so (unless exempt).
Who is filing by or for a disqualified person?
A person disqualified from acting as a director cannot file either for themselves or another. Any filing about a disqualified person can only be made by an ACSP or an employee of an ACSP acting in the course of their employment.
In this case, a person delivering a statement must always include a statement stating that they are not a disqualified person; and if filing on another’s behalf that (1) the person they are filing for is not a disqualified person or (2) that the person is disqualified, but the filer is an ASCP or an employee of an ASCP acting in the course of their employment.
Further blogs will be published in relation to the Economic Crime and Corporate Transparency Bill in due course.
If you, or anyone in your organisation, requires further advice or assistance in this regard, please contact our team.
