We are launching the Register of Persons Holding a Controlled Interest in Land (RCI) 1 April 2022.
Come along to our webinars to hear more about its purpose, outcome and who needs to register.
Find out more information below about whether RCI will apply to you and whether you should book to attend:
- 3 February 2022, 10:00 - 11:00
- 22 February 2022, 10:00 - 11:00
- 9 March 2022, 10:00 - 11:00
- 24 March 2022, 10:00 - 11:00
The purpose of RCI is to hold a record of a person or persons, that can influence decisions concerning ownership of land in Scotland.
When launched, RCI will:
- increase public transparency over decision making concerning land
- ensure there can no longer be categories of owner or tenant where, intentionally, or otherwise, control of decision making is obscured
Who needs to register on RCI
The regulations place a responsibility on owners and tenants (tenants with registered or recorded long leases) of land in Scotland to supply information to RCI of their controlling interest from Friday 1 April 2022. Those in scope of the regulations and who need to submit information to RCI will have one year to do so before penalties come into place.
For the purposes of RCI, the owners and tenants are known as the ‘recorded person’ and those who have significant control or influence over them are known as the ‘associate’.
Who is exempt from RCI
Those who fall into the following categories are subject to other transparency regimes and for this reason cannot be a Recorded Person and do not need to make a submission to RCI. However they can still be an Associate and their details may be required to be submitted to RCI by another Recorded Person who is not exempt.
Example of Other transparency regimes*
Those who report into the Register of People with Significant Control (PSC) regime held by Companies House being:
- UK companies
- Limited Liability Partnerships
- Eligible Scottish Partnerships – Scottish Limited Partnerships (SLPs) and Qualifying Scottish Partnerships (general partnerships where each of the partners is a limited company)
- Societas Europaeae
- Unregistered companies
- Public authorities that are legally subject to Freedom of Information (FOI)
- Scottish Charitable Incorporated Organisations
- Charitable Incorporated Organisations
- Certain bodies who report to the Financial Conduct Authority for publication in the Register of Mutuals (see Schedule 2 para 2(4)-(8))
- Certain overseas entities depending on their shareholding who are trading in a regulated market in an EEA state or other markets listed in Schedule 1 of regulations for the Register of People with Significant Control (PSC)
*As per Schedule 2 in the regulations - https://www.legislation.gov.uk/ssi/2021/85/schedule/2/made
The above information acts as a guide only and is not legal advice. Please ensure that you consult the regulations before making a determination on whether you need to register in RCI.