Schedule 6, paragraph 2

Section 7 (updating duty) is amended as follows. In subsection (1)(a) and (b), for “statement and information mentioned” substitute “statements and information mentioned”. In subsection (3)— omit the “and” at the end of paragraph (a); at the end of paragraph (b) insert , and the statement in row 1 of the table set out in subsection (4A), or the statement and information listed in row 2 of that table. In subsection (4)— omit the “and” at the end of paragraph (a); at the end of paragraph (b) insert , and in the case where the information provided under subsection (1)(b) includes information that a person who ceased to be a registrable beneficial owner was a trustee, the statement in row 1 of the table set out in subsection (4A), or the statement and information listed in row 2 of that table. After subsection (4) insert— This is the table referred to in subsections (3)(c) and (4)(c)— The information specified in paragraph 8(1)(d) of Schedule 1 about each such person, or so much of that information as the entity has been able to obtain. The date on which that person became or ceased to be a beneficiary under the trust, if the entity has been able to obtain that information. For subsections (6) and (7) substitute— Any statements required by subsection (1)(a) or (b) must relate to the state of affairs as at the end of the update period. Any information— must relate to the time when the person so became or so ceased. required by subsection (1)(a) or (b) as a result of a person having become or ceased to be a beneficiary under a trust, or required by subsection (1)(b) as a result of a person having become or ceased to be a registrable beneficial owner of an overseas entity, Any other information required by subsection (1)(a) must relate to the state of affairs as at the end of the update period.

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Source: legislation.gov.uk · retrieved 2026-09-04