# The Economic Crime and Corporate Transparency Act 2023 (Consequential, Incidental and Miscellaneous Provisions) Regulations 2025, Paragraph 5: The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017


(1) The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 are amended as follows.
(2) In regulation 28 (customer due diligence measures), for paragraph (9) substitute—
“(9) Relevant persons do not satisfy their requirements under paragraph (4) by relying solely on information delivered to the registrar under any enactment that requires information to be delivered to the registrar about registrable persons, registrable relevant legal entities or registrable beneficial owners.
(9A) In paragraph (9)—
“registrable beneficial owner” has the meaning given in section 4(5) (application for registration) of, and Schedule 2 (registrable beneficial owners) to, the Economic Crime (Transparency and Enforcement) Act 2022;
“registrable person” has the meaning given in section 790C(4) (key terms) of the Companies Act 2006, including as that definition is applied under any enactment;
“registrable relevant legal entity” has the meaning given in section 790C(8) of the Companies Act 2006, including as that definition is applied under any enactment;
“registrar” means—
(a) in relation to information delivered to the registrar under Part 1 (registration of overseas entities) of the Economic Crime (Transparency and Enforcement) Act 2022, the registrar of companies for England and Wales;
(b) in relation to information delivered to the registrar under any other enactment, the registrar referred to in section 1060(3) (the registrar) of the Companies Act 2006.”.
(3) In regulation 30A (requirement to report discrepancies in registers)—
(a) for paragraph (3) substitute—
“(3) A material discrepancy referred to in paragraphs (2) and (2B) must be reported—
(a) if it relates to a firm of a type described in paragraph (1)(a) to (d), to the registrar referred to in section 1060(3) of the Companies Act 2006;
(b) if it relates to a trust of a type described in paragraph (1)(e), to the Commissioners;
(c) if it relates to an overseas entity of a type described in paragraph (1)(f), to the registrar of companies for England and Wales.”;
(b) omit paragraph (7);
(c) after paragraph (8) insert—
“(9) In this regulation “the register” means—
(a) in relation to a customer which is of the type described in paragraph (1)(a), the register within the meaning of section 1080(2) of the Companies Act 2006;
(b) in relation to a customer which is a firm of a type described in paragraph (1)(b) to (d), the records of information mentioned in section 1080(1)(a) of the Companies Act 2006 relating to such firm;
(c) in relation to a customer which is an overseas entity of a type described in paragraph (1)(f), the register referred to in section 3(1) of the Economic Crime (Transparency and Enforcement) Act 2022.”.

---
Source: https://www.legislation.gov.uk/ukdsi/2025/9780348273304/schedule/2/paragraph/5 (the official version)
Page: https://openlegislation.uk/draft-economic-crime-and-corporate-transparency-act-2023-consequential-incidental-and-miscellaneous-provisions-regulations-2025/schedule-2/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.