The Register of Overseas Entities (Verification and Provision of Information) Regulations 2022

Meaning of “relevant information”U.K.

This section has no associated Explanatory Memorandum

5.—[F1(1) “Relevant information” is information described in any of paragraphs (2), (3), (4), (5), [F2(6), (7) or (8)] unless the information—

(a)is the required information in sub-paragraphs 4(a) to (e) of Schedule 1 to the ECTEA;

(b)relates to the beneficiaries of a pension scheme trust as defined by paragraph 3 of Schedule 3A (Excluded Trusts) to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017;

(c)in sub-paragraphs (3) and (4) has been previously verified and submitted to the registrar under Part 1 of the ECTEA in relation to the same overseas entity.]

(2) Where an overseas entity seeks to undertake a relevant activity within regulation 4(2)(a) (application for registration), the information is—

(a)the information specified in the column headed “Information” in the table in section 4(2) of the ECTEA, as that information corresponds to whichever statement is being made as part of the relevant activity in question; and

(b)where relevant, the information mentioned in section 4(3) of that Act.

(3) Where an overseas entity seeks to undertake a relevant activity within regulation 4(2)(b) (updating duty), the information is—

(a)the information mentioned in sub-paragraphs (a) and (b) of paragraph (2) of this regulation;

(b)the information specified in the column headed “Information” in the table in section 7(2) of the ECTEA, as that information corresponds to whichever statement is being made as part of the relevant activity in question; and

(c)where relevant—

(i)the information mentioned in section 7(3) of the ECTEA;

(ii)the information mentioned in section 7(4) of the ECTEA.

(4) Where an overseas entity seeks to undertake a relevant activity within regulation 4(2)(c) (application for removal), the information is—

(a)the information mentioned in sub-paragraphs (a) and (b) of paragraph (2) of this regulation;

(b)the information specified in the column headed “Information” in the table in section 9(2) of the ECTEA, as that information corresponds to whichever statement is being made as part of the relevant activity in question; and

(c)where relevant—

(i)the information mentioned in section 9(3) of the ECTEA;

(ii)the information mentioned in section 9(4) of the ECTEA.

(5) Where an overseas entity seeks to undertake a relevant activity within regulation 4(2)(d) (complying with a notice under section 27 of the ECTEA), the information is such information as the registrar(1) may by notice request.

(6) Where an overseas entity seeks to undertake a relevant activity within regulation 4(2)(e) (making an application under any regulations made under section 29 of the ECTEA), the information is such information as regulations made under section 29 of the ECTEA may specify as required when making that application.

(7) Where an overseas entity seeks to undertake a relevant activity within regulation 4(2)(f) (requirement for certain unregistered overseas entities to provide information), the information is the information mentioned in section 42(1)(c) of the ECTEA.

[F3(8) Where an overseas entity seeks to undertake a relevant activity within regulation 4(2)(g), the information is any statement or information mentioned in paragraph 2(1) of Schedule 6 to the ECTEA.]

Textual Amendments

Commencement Information

I1Reg. 5 comes into force in accordance with reg. 1(1)

(1)

“Registrar” has the meaning given in section 3 of the ECTEA.