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Register of Persons Holding a Controlled Interest in Land – Associates action required

Scotland
06/06/2022
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The Register of Persons Holding a Controlled Interest in Land (“the RCI”) went live in Scotland on 1 April 2022.The Register aims to improve transparency and clarity around the true ownership of land and property in Scotland. The Regulations behind the RCI (The Land Reform (Scotland) Act 2016 (Register of Persons Holding a Controlled Interest in Land) Regulations 2021 (“the Regulations”)) use two key terms - “Recorded Person” and “Associate”. A “Recorded Person” is the owner or tenant (under a lease of more than 20 years) of land in Scotland who does not fall within the list of exemptions and who has an Associate. An “Associate” is an individual or entity who, in terms of the Regulations,has significant influence or control over a Recorded Person and/or their dealings with the land.

It is now exactly 67 days since the Regulations came into force and therefore all Recorded Persons should have identified and made submissions in respect of their Associates as at 1 April 2022. In the event that they have failed to do so obligations now arise for those Associates. If a person or entity that considers itself to be an Associate (and was an Associate as at 1 April 2022) and has not yet received intimation from the Recorded Person that a submission has been made, they are required as soon as reasonably practicable to give notice to the Recorded Person of that fact. The notice must provide all the details of the Associate that will be required by the Recorded Person to make the necessary return. A failure to comply carries criminal sanctions however there is a grace period until 1 April 2023 in respect of these sanctions.

A fuller briefing on the Regulations can be accessed here and contact details of our team are below for anyone requiring assistance.

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