Regulation 17 Amendment of the Economic Crime (Transparency and Enforcement) Act 2022

After section 29 (application to rectify register) of the Economic Crime (Transparency and Enforcement) Act 2022^f1 insert—

“29A.

(1)

This section applies where—

(a)

a material discrepancy in information relating to any registrable beneficial owner is reported to the registrar^f2 under regulation 30A(2) or (2B) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (requirement to report discrepancies in information about beneficial ownership)^f3, and

(b)

the registrar determines, having investigated under regulation 30A(5) of those Regulations, that there is a material discrepancy.

(2)

The registrar may remove material from the register if doing so is necessary to resolve the discrepancy.”.