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  3. LCCP Information requirements

Guidance

LCCP Information requirements

Guidance for licence holders on the information requirements in the LCCP

Published
30 October 2020

Last updated
15 April 2024 - Changes

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  1. Contents
  2. 4 - Key events (operator status)

4 - Key events (operator status)

This section provides guidance to holders of gambling operating licensees on how to tell us about key events which relate to an operator’s status.

Operator status covers matters such as when a company enters administration or receivership, or an individual becomes bankrupt.

Key Event 1: Operator status

Licence condition 15.2.1 (1)

Reporting key events - Operator status

All operating licences

Any of the following applying to a licensee, any person holding a key position for a licensee, a group company, or a shareholder or member (holding 3% of more of the issued share capital of the licensee or its holding company):

  • presenting of a petition for winding up
  • making of a winding up order
  • entering into administration or receivership
  • bankruptcy (applicable to individuals only)
  • sequestration (applicable in Scotland)
  • an individual voluntary arrangement.

Events about companies

Your company must submit a key event report to us if any of the following events happen to it, or any company in your group of companies:

  • presenting of a petition for winding up,
  • making of a winding up order, or
  • entering into administration or receivership.

A company in your group includes any subsidiary or holding company and any subsidiary of such holding company. For a detailed explanation of these terms refer to the Companies Act 2006 (Section 1159) (opens in a new tab) . This requirement includes companies which are incorporated outside of the United Kingdom.

You must do this within five working days of you finding out about the event.

When reporting this key event, you must include the following information:

  • the date of the event (for example the date the company entered into administration)
  • what type of event has happened (for example, the making of a winding up order)
  • if the business is continuing to trade
  • what information your company has provided to customers and how it has provided that information
  • how many customers your company has (if known), the total value of customer funds held by the company, and what level of customer funds protection the company had in place
  • a summary of who is now running the business, if the company is looking for a buyer and, if known, the names of prospective buyers
  • if your company intends to surrender its operating licence
  • the name and contact details of a person we can contact to discuss this event.

Upload copies of relevant documents where these are available. For example, the winding up petition or order.

If a company with an operating licence issued by us ceases to exist or goes into liquidation, their operating licence automatically lapses. You must still report this key event to us. Liquidation is defined in the Insolvency Act 1986 (Section 247(2)) (opens in a new tab).

Events about individuals

Your company must also tell us if any of the following events happen to a person in a key position in the company, or any shareholder or person holding more than 3% of issued share capital in your company, or a holding company:

  • bankruptcy
  • sequestration (applicable in Scotland)
  • an individual voluntary arrangement (IVA).

A ‘key position’ is defined in LCCP Licence condition 15.2.1 (4) (Reporting key events - Relevant persons and positions).

You must do this within five working days of you finding out about the event.

When reporting this key event, you must include the following information:

  • the date of the event (for example, the date the individual became bankrupt)
  • what type of event has happened (for example, sequestration)
  • a summary of the circumstances which led to the event
  • what actions the company has taken, or intends to take, in respect of the event (for example, appoint a new personal licence holder).

Upload copies of relevant documents where these are available. For example, the bankruptcy petition.

In addition to this requirement, if a personal licence holder is made bankrupt or sequestration of their estate is awarded, the individual must submit a personal event report to us. Also note that, if either of these events occur, a personal licence holder’s licence will lapse.

All key events are to be reported to us via the key event part of the eServices digital service (opens in a new tab) on our website. You must select the following type when entering this key event on eServices:

Key Event: Winding-up/receivership(to report the presenting of a petition for winding up, making of a winding up order, or receivership)

Key Event: Administration/IVA (to report administration or an IVA)

Key Event: Bankruptcy/Sequestration (to report bankruptcy or sequestration of a person in a key position or relevant shareholder)

This reporting requirement applies to holders of all operating licences.

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