Economic Crime (Transparency and Enforcement) Act 2022 · PART 2 Meaning of “beneficial owner”

6 Beneficial owners

Sch. 2 para. 6 · in force: yes

Captured statutory text (L5)

6 Beneficial owners

A person (“X”) is a “beneficial owner” of an overseas entity or other legal entity (“Y”) if one or more of the following conditions are met.

Ownership of shares Condition 1 is that X holds, directly or indirectly, more than 25% of the shares in Y. Voting rights Condition 2 is that X holds, directly or indirectly, more than 25% of the voting rights in Y. Right to appoint or remove directors Condition 3 is that X holds the right, directly or indirectly, to appoint or remove a majority of the board of directors of Y. Significant influence or control Condition 4 is that X has the right to exercise, or actually exercises, significant influence or control over Y. Trusts, partnerships, etc Condition 5 is that— the trustees of a trust, or the members of a partnership, unincorporated association or other entity, that is not a legal person under the law by which it is governed meet any of the conditions specified above (in their capacity as such) in relation to Y, and X has the right to exercise, or actually exercises, significant influence or control over the activities of that trust or entity.

Full captured verbatim text

A person (“X”) is a “beneficial owner” of an overseas entity or other legal entity (“Y”) if one or more of the following conditions are met.

Ownership of shares

Condition 1 is that X holds, directly or indirectly, more than 25% of the shares in Y.

Voting rights

Condition 2 is that X holds, directly or indirectly, more than 25% of the voting rights in Y.

Right to appoint or remove directors

Condition 3 is that X holds the right, directly or indirectly, to appoint or remove a majority of the board of directors of Y.

Significant influence or control

Condition 4 is that X has the right to exercise, or actually exercises, significant influence or control over Y.

Trusts, partnerships, etc

Condition 5 is that—

the trustees of a trust, or the members of a partnership, unincorporated association or other entity, that is not a legal person under the law by which it is governed meet any of the conditions specified above (in their capacity as such) in relation to Y, and

X has the right to exercise, or actually exercises, significant influence or control over the activities of that trust or entity.

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 person is a beneficial owner of an entity if meeting shareholding, voting, directorship, or significant control thresholds.

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

Refers to

No captured references.

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. 23

schedule ref schedule_ref · Sch. 2 para. 25

schedule ref schedule_ref · s. 4

schedule ref schedule_ref · s. 44

schedule ref schedule_ref · s. 63

Part summaries

0 of 0 parts have a verified summary.

L1 unavailable for current verification: the overall summary needs every part verified. Provisions and the verified summaries remain readable.

Verification findings (173)

synthesis coverage: missing/unverified L2 part-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-3

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-4

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-5

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-6

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-7

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-8

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-9

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-10

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-11

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-12

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-13

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-14

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-15

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-15A

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-15B

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-16

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-17

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-17A

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-18

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-19

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-20

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-21

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-22

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-23

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-24

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-25

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-26

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-27

synthesis coverage: missing/unverified L2 part-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-28

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-28A

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-29

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-29A

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-30

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-31

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-32

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-32A

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-33

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-34

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-35

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-36

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-37

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-38

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-39

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-40

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-41

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-42

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-43

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-43A

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-44

synthesis coverage: missing/unverified L2 part-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-45

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-46

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-47

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-48

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-49

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-50

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-51

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-52

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-53

synthesis coverage: missing/unverified L2 part-3-chapter-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-54

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-55

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-56

synthesis coverage: missing/unverified L2 part-3-chapter-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-57

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-58

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-59

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-60

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-61

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-62

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-63

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-64

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-65

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-66

synthesis coverage: missing/unverified L2 part-4

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-67

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-68

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-69

synthesis coverage: missing evaluation uk:ukpga/2022/10#section-70

synthesis coverage: missing/unverified L2 schedule-1-part-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-1

synthesis coverage: missing/unverified L2 schedule-1-part-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-2

synthesis coverage: missing/unverified L2 schedule-1-part-3

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-3

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-4

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-5

synthesis coverage: missing/unverified L2 schedule-1-part-4

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-6

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-7

synthesis coverage: missing/unverified L2 schedule-1-part-5

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-8

synthesis coverage: missing/unverified L2 schedule-1-part-6

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-9

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-1-paragraph-10

synthesis coverage: missing/unverified L2 schedule-2-part-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-3

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-4

synthesis coverage: missing/unverified L2 schedule-2-part-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-5

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-6

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-6A

synthesis coverage: missing/unverified L2 schedule-2-part-3

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-7

synthesis coverage: missing/unverified L2 schedule-2-part-4

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-8

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-9

synthesis coverage: missing/unverified L2 schedule-2-part-5

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-10

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-11

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-12

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-13

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-14

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-15

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-16

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-17

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-18

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-19

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-20

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-21

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-22

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-23

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-24

synthesis coverage: missing/unverified L2 schedule-2-part-6

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-24A

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-2-paragraph-25

synthesis coverage: missing/unverified L2 schedule-3-part-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-3-paragraph-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-3-paragraph-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-3-paragraph-3

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-3-paragraph-4

synthesis coverage: missing/unverified L2 schedule-3-part-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-3-paragraph-5

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-3-paragraph-6

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-3-paragraph-7

synthesis coverage: missing/unverified L2 schedule-4-part-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-3

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-4

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-5

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-6

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-7

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-8

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-9

synthesis coverage: missing/unverified L2 schedule-4-part-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-10

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-11

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-12

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-13

synthesis coverage: missing/unverified L2 schedule-4-part-3

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-4-paragraph-14

synthesis coverage: missing/unverified L2 schedule-5

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-5-paragraph-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-5-paragraph-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-5-paragraph-3

synthesis coverage: missing/unverified L2 schedule-6

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-6-paragraph-1

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-6-paragraph-2

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-6-paragraph-3

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-6-paragraph-4

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-6-paragraph-5

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-6-paragraph-6

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-6-paragraph-7

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-6-paragraph-8

synthesis coverage: missing evaluation uk:ukpga/2022/10#schedule-6-paragraph-9

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 2 Meaning of “beneficial owner”
Version: 182e65dd10498ae86ea06030…
Content hash: sha256 c6cb41a6cd3f9e6d2d2a0a9e…
Source: legislation.gov.uk/ukpga/2022/10