The Register of Persons Holding a Controlled Interest in Land: 2 Months to Go

Scotland

From 1 April 2024 those who are subject to, but have failed to comply with, duties imposed by the Land Reform Scotland (Scotland) Act 2016 (Register of Persons Holding a Controlled Interest in Land) Regulations 2021 (the Regulations) could face criminal sanctions. Where a requirement to register in the Register of Persons Holding a Controlled Interest in Land (the RCI) arises but is not complied with, the offending party will be at risk of facing financial penalties of up to £5,000.

Criminal sanctions were previously due to be imposed from 1 April 2023, but this was delayed following the impact of the Covid-19 pandemic.

Individuals and organisations impacted by the legislation should familiarise themselves with the requirements and operation of the RCI as soon as possible (and in any event prior to 1 April 2024) in order to ensure that the relevant filings are made (and avoid incurring financial penalties).

Please click here to read the bulletin.