Scottish Partnerships Now Required to Disclose “People with Significant Influence or Control”
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- Scottish limited partnerships—commonly used vehicles for European private funds—must now identify whether there is anyone with “significant influence or control” over them.
- Key information about such a person must be filed on a public register.
- Anyone who knows they have control of a Scottish partnership is under an obligation to notify the partnership of that fact.
- Scottish partnerships will need to quickly educate themselves about the scope of the rules and develop a compliance plan.