Section 45ZB(11)

For the purposes of this regulation, the Commissioners must take account of the following when determining whether a person has a legitimate interest in the beneficial ownership of a trust— whether the person is involved in an investigation into money laundering, terrorist financing or proliferation financing; whether the person is making the request for accessible information in order to further an investigation into a specified suspected instance of money laundering, terrorist financing or proliferation financing; whether the disclosure of the information to that person would be likely to prejudice— which is or are being, or is or are about to be, conducted; any criminal investigation or criminal proceedings; any other investigation mentioned in section 342(1) of the Proceeds of Crime Act 2002 (offences of prejudicing investigation); or any investigation by an appropriate officer (within the meaning given in regulation 87(10)) into a potential contravention of a relevant requirement, whether, having regard to the information produced by the person making the request, it is reasonable for that person to suspect that the trust is being used for money laundering, terrorist financing or proliferation financing.

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