OpenLegislation

Paragraph 3 Registrable beneficial owners: legal entitiesI1I2I3

United Kingdom

F1(1)

A legal entity other than a government or public authority is a “registrable beneficial owner” in relation to an overseas entity if it—

(a)

is a beneficial owner of the overseas entity F2by virtue of paragraph 6,

(b)

is subject to its own disclosure requirements (see Part 3) F3or is a beneficial owner of the overseas entity by virtue of being a trustee, and

(c)

is not exempt from being registered (see Part 4).

F4(2)

A legal entity other than a government or public authority is also a “registrable beneficial owner” in relation to an overseas entity if it is treated as a beneficial owner of the overseas entity by virtue of paragraph 6A.

Annotations

Textual amendments

F1

Sch. 2 para. 3 renumbered as Sch. 2 para. 3(1) (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 162(3)(b)(i), 219(1)(2)(b); S.I. 2024/269, reg. 2(z50) (with reg. 6)

F2

Words in Sch. 2 para. 3(1)(a) substituted (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 162(3)(b)(ii), 219(1)(2)(b); S.I. 2024/269, reg. 2(z50) (with reg. 6)

F3

Words in Sch. 2 para. 3(b) inserted (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 161(2), 219(1)(2)(b); S.I. 2024/269, reg. 2(z49) (with reg. 6)

F4

Sch. 2 para. 3(2) inserted (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 162(3)(b)(iii), 219(1)(2)(b); S.I. 2024/269, reg. 2(z50) (with reg. 6)

Commencement

I1

Sch. 2 para. 3 not in force at Royal Assent, see s. 69

I2

Sch. 2 para. 3 in force at 1.8.2022 (except in so far as relating to ss. 7–11 of the Act) by S.I. 2022/876, reg. 3(b)

I3

Sch. 2 para. 3 in force at 12.10.2022 by S.I. 2022/1039, reg. 2(b)