PSC notification letters
Letters from new or former shareholders to a company regarding their status as a person with significant control in relation to the company, to enable the company to update its PSC Register.
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When do I use this document?
- for notifications from new or former shareholders regarding their status as a PSC in relation to the company
- following a share allotment or share transfer
- for an individual who becomes or ceases to be a registrable person
- for a company that becomes or ceases to be a relevant legal entity
What are the key features?
- letter from an individual notifying that they are a registrable person due to a share allotment or transfer
- letter from a corporate entity or firm that it is a registrable relevant legal entity as a result of a share allotment or transfer
- letter from an individual notifying that they no longer a registrable person because they no longer hold any shares
- letter from a corporate entity or firm that it is no longer a registrable relevant legal entity as because it no longer holds any shares
When do I use this document?
- for a share sale transaction
- where confidential information about the target company will be disclosed to a potential buyer
- for a longer form NDA with strong legal protections for the seller and target company
What are the key features?
- 17 clauses over 9 pages
- definitions of Confidential Information and Proposed Transaction
- confidentiality obligations
- authorised recipients of Confidential Information
- circumstances permitting compulsory disclosure
- procedure for returning Confidential Information to the seller
- prohibition on the buyer poaching the target company’s employees
- contractual remedies for breach of the NDA, including contractual indemnity in favour of the seller and target company
- duration of agreement
What else do I need to know?
It’s quite common that some clauses of an NDA may be resisted by the receiving party. The guidance notes which accompany this document explain how provisions, such as the following, might be negotiated to reach mutual agreement.
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- non-solicitation covenants
- a contractual indemnity for breach of the confidentiality obligations
- the duration of the agreement
The guidance notes which accompany the document explain how these provisions might be negotiated to reach agreement.
What other docs are available?
For a shorter form of confidentiality agreement for a company sale transaction, see
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Updated by a lawyer on 04/11/2025
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