The Register of Persons Holding a Controlled Interest in Land (RCI) is live.
Come along to our next webinars:
Understanding Regulation 23A
The webinar will support your understanding of regulation 23A. This regulation covers the situation where all trustees/office bearers on the property title have ceased to be trustees/office bearers and no longer have a legal connection to the property. We will give an overview of the legislation, work through some examples and explain how to submit an entry.
Duration: 45 minutes with question and answer session
The purpose of RCI is to hold a record of a person or persons, that can influence decisions concerning ownership of land in Scotland. 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 until 1 April 2024 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.
Further detail on who is exempt from registering can be found on our Knowledge Base site.