Paragraph 24A Expansion of meaning of “registrable beneficial owner” where trusts in viewF1

The Secretary of State may by regulations amend this Schedule so as to expand the description of persons who are registrable beneficial owners of an overseas entity in circumstances where the overseas entity is part of a chain of entities that includes a trustee.

For these purposes an overseas entity is part of a chain of entities that includes a trustee if there is a legal entity which is a beneficial owner of it by virtue of being a trustee.

Regulations under this paragraph are subject to the affirmative resolution procedure.