Paragraph 8 Obtaining informationF1

(1)

An overseas entity must comply with this paragraph before complying with the requirements imposed by paragraphs 2 to 5.

(2)

The entity must take reasonable steps—

(a)

to identify anyone who became or ceased to be a registrable beneficial owner during the relevant period, and

(b)

if it identities any such person, to obtain—

(i)

the information mentioned in row 2 of column 2 of the table in paragraph 3(1), and

(ii)

in the case of anyone mentioned in paragraph 3(2), the information mentioned there.

(3)

The entity must take reasonable steps—

(a)

to identify any person who, at the end relevant period, was a registrable beneficial owner by virtue of being a trustee, and

(b)

if it identities any such person, to obtain —

(i)

the information mentioned in paragraph 4(2)(a) about the relevant trust,

(ii)

information as to whether anyone became or ceased to be a beneficiary under the relevant trust during the relevant period (a “relevant beneficiary”), and

(iii)

the information mentioned in row 2 of column 2 of the table in paragraph 4(3) in relation to any relevant beneficiary.

(4)

The entity must take reasonable steps—

(a)

to identify any person who falls within paragraph 5(1)(a)(i) to (iii), and

(b)

if it identifies any such person, to obtain the information mentioned in paragraph 5(2)(a).

(5)

The steps that an overseas entity must take by virtue of this paragraph include giving an information notice under this paragraph to any person that it knows, or has reasonable cause to believe, falls within sub-paragraph (2)(a), (3)(a) or (4)(a).

(6)

An information notice under this paragraph is a notice requiring the recipient to provide the information mentioned in sub-paragraph (2)(b), (3)(b) or (4)(b).

(7)

Sections 15 to 15B (offences) apply in relation to information notices under this paragraph as they apply in relation to information notices under section 12.

Annotations

Textual amendments

F1: Sch. 6 inserted (26.10.2023 for specified purposes) by Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b), Sch. 7 para. 4