Explanatory note

These Regulations make provision relating to the register of overseas entities kept by the registrar of companies for England and Wales (“the registrar”) in accordance with Part 1 of the Economic Crime (Transparency and Enforcement) Act 2022 (c. 10) (“the ECTEA”). The provisions relate to exempting pension schemes from certain information disclosure requirements and amending regulations relating to the verification of information.

Regulation 3 exempts pension schemes from the requirement to provide additional information, relating to transitional cases, to the registrar under Schedule 6 of the ECTEA.

Regulations 4 exempts pension schemes from the requirement to provide additional information relating to in-year changes to trusts to the registrar under sections 7 (updating duty) and 9 (application for removal) of the ECTEA.

Regulations 5 and 6 amend the existing verification regulations so that additional information which must be delivered to the registrar under Schedule 6 of the ECTEA, relating to transitional cases, will need to be verified.

A full regulatory impact assessment of the effect that the overseas entities register will have on the costs of business and the voluntary sector is available from the Department for Business and Trade, Old Admiralty Building, London SW1A 2DY and is published with the Explanatory Memorandum to this instrument on www.legislation.gov.uk.