Regulation 26 Amendment of regulation 45ZA (register of beneficial ownership: additional types of trust)

(1)

Regulation 45ZA^f1 is amended as follows.

(2)

In paragraph (2)—

(a)

in sub-paragraph (b)—

(i)

omit the “or” at the end of paragraph (i);

(ii)

at the end of paragraph (ii), insert “or”;

(iii)

after paragraph (ii), insert—

“(iii)

acquired an interest in land in the United Kingdom before 6th October 2020 and continued to hold that interest up to and including the date on which this paragraph comes into force;”;

(b)

in sub-paragraph (c)—

(i)

the words “acquire an interest in land in the United Kingdom” become sub-paragraph (c)(i);

(ii)

at the end of that sub-paragraph, insert “or”;

(iii)

after that sub-paragraph, insert—

“(ii)

acquired an interest in land in the United Kingdom before 6th October 2020 and continued to hold that interest up to and including the date on which this paragraph comes into force.”.

(3)

In paragraph (4), in the opening words, after “paragraph (1)” omit “(a) or (b)”.

(4)

In paragraph (5)—

(a)

in sub-paragraphs (a) and (b), for “(b) or (c)” substitute “(b)(i), (b)(ii) or (c)(i)”;

(b)

after sub-paragraph (a), insert—

“(aa)

on or before 1st September 2027, in the case of a trust which falls within paragraph (1)(b)(iii) or (c)(ii);”.

Annotations

Footnotes

f1: Regulation 45ZA was inserted by S.I. 2020/991 and was amended by S.I. 2022/137.