Economic Crime (Transparency and Enforcement) Act 2022 · PART 1 Meaning of “registrable beneficial owner”

3 Registrable beneficial owners: legal entities

Sch. 2 para. 3 · in force: yes

Captured statutory text (L5)

3 Registrable beneficial owners: legal entities

(1)A legal entity other than a government or public authority is a “registrable beneficial owner” in relation to an overseas entity if it—

(a)is a beneficial owner of the overseas entity by virtue of paragraph 6,

(b)is subject to its own disclosure requirements (see Part 3) or is a beneficial owner of the overseas entity by virtue of being a trustee, and

(c)is not exempt from being registered (see Part 4).

(2)A legal entity other than a government or public authority is also a “registrable beneficial owner” in relation to an overseas entity if it is treated as a beneficial owner of the overseas entity by virtue of paragraph 6A.

Full captured verbatim text

(1) A legal entity other than a government or public authority is a “registrable beneficial owner” in relation to an overseas entity if it—

(a) is a beneficial owner of the overseas entity by virtue of paragraph 6,

(b) is subject to its own disclosure requirements (see Part 3) or is a beneficial owner of the overseas entity by virtue of being a trustee, and

(c) is not exempt from being registered (see Part 4).

(2) A legal entity other than a government or public authority is also a “registrable beneficial owner” in relation to an overseas entity if it is treated as a beneficial owner of the overseas entity by virtue of paragraph 6A.

What this provision means

Model summary, checked against the text on the left.

Relevance to Signicat: 2/3 · detailed summary (L4) Status: not needed for a short provision · Stored artifact; current recipe verification unavailable

A legal entity qualifies as a registrable beneficial owner if meeting paragraph 6 or 6A, disclosure requirements or trustee status, and not exempt.

Only the one-line summary above is stored for this provision; the text itself is the evidence.

Refers to

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Referred to by

schedule ref schedule_ref · Sch. 1 para. 3

schedule ref schedule_ref · Sch. 1 para. 4

schedule ref schedule_ref · Sch. 1 para. 5

schedule ref schedule_ref · Sch. 2 para. 1

schedule ref schedule_ref · s. 4

schedule ref schedule_ref · s. 44

schedule ref schedule_ref · s. 63

Part summaries

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Verification findings (173)

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Instrument tier unavailable

Change history as published

S. 29 omitted (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by virtue of Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 170(1)(b), 219(1)(2)(b); S.I. 2024/269, reg. 2(z54)

S. 29A omitted (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by virtue of Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 170(1)(b), 219(1)(2)(b); S.I. 2024/269, reg. 2(z54)

Pending effects amendments not yet applied to this text

No captured pending effects.

Provenance

Every claim the system makes about this text is traceable to these identifiers.

Instrument: uk:ukpga/2022/10
Part: PART 1 Meaning of “registrable beneficial owner”
Version: 182e65dd10498ae86ea06030…
Content hash: sha256 e05ec21d3723e0ef48174290…
Source: legislation.gov.uk/ukpga/2022/10