The Money Laundering and Terrorist Financing (Amendment) Regulations 2019

Amendment of the Companies Act 2006

16.—(1) The Companies Act 2006(1) is amended as follows.

(2) In section 1079A (provision of information for publication on European e-Justice portal)—

(a) in subsection (1), for “Article 3a(1) of Directive 2009/101/EC(2)” substitute “Article 17(1) of Directive 2017/1132/EU(3)”;

(b) in subsection (2), for “Directive 2009/101/EC” substitute “Directive 2017/1132/EU”;

(c) in subsection (3), for “Directive 2009/101/EC and Article 3a” substitute “Directive 2017/1132/EU and Article 17”.

(3) In section 1084 (records relating to companies that have been dissolved etc), after subsection (4) insert—

“(4A) This section has effect subject to section 1087ZA (required particulars available for public inspection for limited period).”.

(4) In section 1085 (inspection of the register), in subsection (3), after “inspection)” insert “and section 1087ZA (required particulars available for public inspection for limited period)”.

(5) In section 1086 (right to copy of material on the register), in subsection (3), after “inspection)” insert “and section 1087ZA (required particulars available for public inspection for limited period)”.

(6) After section 1087 (material not available for public inspection) insert—

“Required particulars available for public inspection for limited period

1087ZA.— (1) This section applies where—

(a) a notice is given to the registrar by a company under section 790VA (notification of changes to the registrar), or

(a) a document is delivered to the registrar by a company under section 790ZA (duty to notify registrar of changes).

(2) The notice or document, and any record of the information contained in the notice or document, must not be made available by the registrar for public inspection after the expiration of ten years beginning with the date on which the company is dissolved.

(3) The power in section 1084(2) (power of registrar to direct that records of a company that has been dissolved may be removed to the Public Record Office etc) may not be exercised in relation to the notice or document, or any record of the information contained in the notice or document, before the expiration of ten years beginning with the date on which the company is dissolved.

(4) Subsection (2) does not affect the availability for public inspection of the same information contained in material derived from another description of document in relation to which no such restriction applies.”.

(7) After section 1095 (rectification of register on application to registrar) insert—

“Rectification of register to resolve a discrepancy

1095A.— (1) This section applies where—

(a) a discrepancy in information relating to a company is reported to the registrar under regulation 30A(2) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (requirement to report discrepancies in information about beneficial ownership), and

(b) the registrar determines, having investigated the discrepancy under regulation 30A(5) of those Regulations, that there is a discrepancy.

(2) The registrar may remove material from the register if doing so is necessary to resolve the discrepancy.”.

(1)

2006 c. 46; section 1079A was inserted by S.I. 2014/1557.

(2)

OJ No. L 258, 1.10.2009, p.11-19.

(3)

OJ No. L 169, 30.06.2017, p.46-127.