C4C6C5C1C3C2Part 35The registrar of companies
Pt. 35 applied (with modifications) (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 3 para. 3; 2020 c. 1, Sch. 5 para. 1(1)
Pt. 35 modified (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), reg. 2, Sch. 3 para. 5(b) (with reg. 5) (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4, 21(7)(a))
Pt. 35 modified (21.2.2009) by The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 (S.I. 2009/317), art. 6(1)(3)
Pt. 35 applied (with modifications) (8.2.2011) by The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), reg. 27, Sch. 6 Pt. 2 para. 5(3)
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
F1Discrepancy reporting
S. 1110D and cross-heading 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. 87(3), 219(1)(2)(b); S.I. 2024/269, reg. 2(z29)
1110DPower to require businesses to report discrepancies
1
The Secretary of State may by regulations impose requirements on a person who is carrying on business in the United Kingdom (a “relevant person”)—
a
to obtain specified information about a customer (or prospective customer)—
i
before entering into a business relationship with them, or
ii
during a business relationship with them,
b
to identify discrepancies between information so obtained and information made publicly available by the registrar, and
c
to report any discrepancies to the registrar.
2
The regulations may require the relevant person, when reporting discrepancies, to provide such other information as may be required by the regulations (including information about the relevant person).
3
The regulations may provide for reports or other information delivered to the registrar under the regulations to be withheld from public inspection.
4
The regulations may create offences in relation to failures to comply with requirements imposed by the regulations.
5
The regulations may not provide for an offence created by the regulations to be punishable with imprisonment for a period exceeding—
a
in the case of conviction on indictment, 2 years;
b
in the case of summary conviction, 3 months.
6
In this section “customer”, in relation to a person carrying out estate agency work, includes a purchaser (as well as a seller).
7
Regulations under this section are subject to affirmative resolution procedure.
Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))