Economic Crime (Transparency and Enforcement) Act 2022 · PART 1 Registration of overseas entities

44 Interpretation

s. 44 · in force: yes

Captured statutory text (L5)

44 Interpretation

(1)In this Part— “beneficial owner”, in relation to an overseas entity, has the meaning given by Part 2 of Schedule 2; “the Companies Acts” has the meaning given by section 2(1) of the Companies Act 2006; “the court” has the same meaning as in the Companies Acts (see section 1156 of the Companies Act 2006); “document” means information in any recorded form and references to delivering a document are to be read in accordance with section 1114(1)(b) of the Companies Act 2006; “government or public authority” means— a corporation sole; a government or government department of a country or territory or a part of a country or territory; an international organisation whose members include two or more countries or territories (or their governments); a local authority or local government body in the United Kingdom or elsewhere; any other public authority in the United Kingdom or elsewhere; “legal entity” has the meaning given by section 2; “managing officer”, in relation to an overseas entity, includes a director, manager or secretary; “overseas entity” has the meaning given by section 2; “register” means the register kept under section 3; “registered”: an overseas entity is registered if its name appears in the list of registered overseas entities kept in accordance with section 3(3); “registrable beneficial owner”, in relation to an overseas entity, has the meaning given by Schedule 2; “the registrar” has the meaning given by section 3(1). “service address” has the same meaning as in the Companies Acts (see section 1141(1) and (2) of the Companies Act 2006).

(2)A reference in section 12 or 13 to a person who is a registrable beneficial owner of an overseas entity includes, in connection with the obtaining of information required by section 7(1)(b), 9(1)(c), 41(3)(b) or 42(1)(c)(i), a reference to a person who has ceased to be a registrable beneficial owner.

(3)A reference in this Part to a trust includes arrangements, under the law of a country or territory outside the United Kingdom, that are of a similar character to a trust, and any related expressions are to be read accordingly.

(4)The Secretary of State may by regulations make provision specifying descriptions of arrangements that are, or are not, to be treated as being of a similar character to a trust for the purposes of subsection (3).

(5)Regulations under subsection (4) are subject to the negative resolution procedure.

Full captured verbatim text

(1) In this Part—

“beneficial owner”, in relation to an overseas entity, has the meaning given by Part 2 of Schedule 2;

“the Companies Acts” has the meaning given by section 2(1) of the Companies Act 2006;

“the court” has the same meaning as in the Companies Acts (see section 1156 of the Companies Act 2006);

“document” means information in any recorded form and references to delivering a document are to be read in accordance with section 1114(1)(b) of the Companies Act 2006;

“government or public authority” means—

a corporation sole;

a government or government department of a country or territory or a part of a country or territory;

an international organisation whose members include two or more countries or territories (or their governments);

a local authority or local government body in the United Kingdom or elsewhere;

any other public authority in the United Kingdom or elsewhere;

“legal entity” has the meaning given by section 2;

“managing officer”, in relation to an overseas entity, includes a director, manager or secretary;

“overseas entity” has the meaning given by section 2;

“register” means the register kept under section 3;

“registered”: an overseas entity is registered if its name appears in the list of registered overseas entities kept in accordance with section 3(3);

“registrable beneficial owner”, in relation to an overseas entity, has the meaning given by Schedule 2;

“the registrar” has the meaning given by section 3(1).

“service address” has the same meaning as in the Companies Acts (see section 1141(1) and (2) of the Companies Act 2006).

(2) A reference in section 12 or 13 to a person who is a registrable beneficial owner of an overseas entity includes, in connection with the obtaining of information required by section 7(1)(b), 9(1)(c), 41(3)(b) or 42(1)(c)(i), a reference to a person who has ceased to be a registrable beneficial owner.

(3) A reference in this Part to a trust includes arrangements, under the law of a country or territory outside the United Kingdom, that are of a similar character to a trust, and any related expressions are to be read accordingly.

(4) The Secretary of State may by regulations make provision specifying descriptions of arrangements that are, or are not, to be treated as being of a similar character to a trust for the purposes of subsection (3).

(5) Regulations under subsection (4) are subject to the negative resolution procedure.

What this provision means

Model summary, checked against the text on the left.

L3 unavailable.

No verified summary for this provision yet; read the text itself.

Refers to

other law external_cite · s. 1114

other law external_cite · s. 1156

other law external_cite · s. 2

schedule ref schedule_ref · Sch. 2 para. 1

schedule ref schedule_ref · Sch. 2 para. 10

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cross-reference internal_cite · s. 12

cross-reference internal_cite · s. 13

cross-reference internal_cite · s. 2

cross-reference internal_cite · s. 3

cross-reference internal_cite · s. 41

cross-reference internal_cite · s. 42

cross-reference internal_cite · s. 44

cross-reference internal_cite · s. 7

cross-reference internal_cite · s. 9

Referred to by

cross-reference internal_cite · Sch. 4 para. 9

cross-reference internal_cite · s. 44

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 Registration of overseas entities
Version: 182e65dd10498ae86ea06030…
Content hash: sha256 9ca7a72dc80fd460be626472…
Source: legislation.gov.uk/ukpga/2022/10