| Guvnor

Enforced by: SRA
Status: In Force
Penalty ceiling: Imprisonment 7 of 26 obligations carry an unlimited fine. 2 carry different penalties and 17 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Director or Officer8 Any Person6

Plus 12 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Director or Officer — also bound by 482 other Acts

Insolvency (England and Wales) Rules 2016 162 duties

Companies Act 2006 126 duties

Insolvency Act 1986 77 duties

The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 68 duties

Building Societies Act 1986 32 duties

Any Person — also bound by 2684 other Acts

Human Medicines Regulations 2012 184 duties

Merchant Shipping Act 1995 144 duties

Insolvency (England and Wales) Rules 2016 104 duties

Communications Act 2003 92 duties

Road Traffic Act 1988 92 duties

What it requires

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

Registration of overseas entities

23 of 51 sections shown

s.003 Register of overseas entities Regulated

Other duties (1) — Crown / regulator

Registrar must keep register of overseas entitiesStatutory regulator

s.004 Application for registration Regulated

Submit registration application with beneficial ownership informationAny Person

s.005 Registration and allocation of overseas entity ID Regulated

Other duties (1) — Crown / regulator

Registrar must allocate overseas entity ID when registering an overseas entityCrown / Minister / Government department

s.006 Notice of registration Regulated

Other duties (1) — Crown / regulator

Registrar must notify overseas entity of its registrationCrown / Minister / Government department

s.007 Updating duty Regulated

File annual ownership updates for your overseas entityAny Person

s.008 Failure to comply with updating duty Prosecution

Fail to comply with overseas entity updating dutyDirector or Officer

Unlimited fine

s.010 Processing of application under section 9 Regulated

Other duties (1) — Crown / regulator

Registrar must process removal applications and notify the applicantCrown / Minister / Government department

s.012 Duty to take steps to obtain information Regulated

Identify registrable beneficial owners and obtain required informationAny Person

s.015 Failure to comply with notice under section 12 or 13 Prosecution

Fail to comply with an information requestDirector or Officer

Unlimited fine

s.015 False statements under section 12 or 13: basic offence Prosecution

Make false statement in response to information noticeDirector or Officer

Unlimited fine

s.015 False statements under section 12 or 13: aggravated offence Imprisonment

Make knowingly false statement in response to information noticeDirector or Officer

s.016 Verification of registrable beneficial owners and managing officers Regulated

Other duties (1) — Crown / regulator

Secretary of State must require verification of overseas entity informationCrown / Minister / Government department

s.020 Annotation of the register Regulated

Other duties (1) — Crown / regulator

Registrar must annotate register for document deliveries, replacements and removalsStatutory regulator

s.022 Material unavailable for inspection Regulated

Other duties (1) — Crown / regulator

Registrar must keep protected material off the public registerCrown / Minister / Government department

s.023 Disclosure of protected information Regulated

Other duties (1) — Crown / regulator

Registrar must not disclose protected date of birth, address or trusts infoCrown / Minister / Government department

s.024 Consultation about regulations under section 23 Regulated

Other duties (1) — Crown / regulator

Secretary of State must consult devolved bodies before making s.23 regulationsCrown / Minister / Government department

s.027 Resolving inconsistencies ... Regulated

Resolve Companies House inconsistency notice within 14 daysAny Person

s.028 Further provision about removal of material from the register Regulated

Other duties (1) — Crown / regulator

Secretary of State must make regulations on removing register materialCrown / Minister / Government department

s.030 Court order to rectify register Regulated

Other duties (1) — Crown / regulator

Registrar must remove court-ordered material from the registerCrown / Minister / Government department

s.032 False statements: basic offence Prosecution

Make false statement or submit false document to registrarDirector or Officer

Unlimited fine

s.032 False statements: aggravated offence Prosecution

Knowingly provide false information to registrarDirector or Officer

Unlimited fine

s.034 Power to require overseas entity to register if it owns certain land Prosecution

Fail to register overseas entity after notice requiring registrationDirector or Officer

Unlimited fine

s.040 Sharing of information by HMRC Regulated

Disclose HMRC-shared information without lawful authorityAny Person

28 other sections in this Part — procedural and definitional

s.001 Overview

s.002 Definition of “overseas entity” etc

s.009 Application for removal

s.011 Transfer of documents to Public Record Office

s.013 Additional powers to obtain information

s.014 Sections 12 and 13: supplementary

s.017 Power to modify application process etc in certain cases

s.017 Exceptions to duty to provide change of beneficiary information

s.018 Exemptions

s.019 Documents to be in English

s.021 Inspection and copies of register

s.025 Power to make regulations protecting material

s.026 Data protection

s.028 Administrative removal of material from the register

s.029 Application to rectify register

s.029 (1) This section applies where— (a) a material discrepancy in...

s.031 Court powers on ordering removal of material from the register

s.033 Land ownership and transactions

s.035 Liability of officers in default

s.036 Meaning of “daily default fine”

s.037 Consent required for prosecutions

s.038 Further provision about proceedings

s.039 Financial penalties

s.041 Applications in the transitional period: information about land transactions

s.042 Requirement for certain unregistered overseas entities to provide information

s.043 Section 42: supplementary

s.043 Duty to deliver further information for transitional cases

s.044 Interpretation

Part 2

Unexplained wealth orders

1 of 9 sections shown

s.051 Annual reports on use of unexplained wealth orders: England and Wales Regulated

Other duties (1) — Crown / regulator

Secretary of State must publish annual Unexplained Wealth Order reportsCrown / Minister / Government department

8 other sections in this Part — procedural and definitional

s.045 Imposition of unexplained wealth orders on officers etc of property holder: England and Wales and Northern Ireland

s.046 Imposition of unexplained wealth orders on officers etc of property holder: Scotland

s.047 Alternative test to the income requirement: England and Wales and Northern Ireland

s.048 Alternative test to the income requirement: Scotland

s.049 Power to extend period for which interim freezing order has effect: England and Wales and Northern Ireland

s.050 Power to extend period for which interim freezing order has effect: Scotland

s.052 Limits on costs orders in relation to unexplained wealth orders: England and Wales and Northern Ireland

s.053 Limits on expenses orders in relation to unexplained wealth orders: Scotland

Part 3

Sanctions

0 of 13 sections shown

13 other sections in this Part — procedural and definitional

s.054 Imposition of monetary penalties

s.055 Procedural rights

s.056 Reporting on breach of financial sanctions

s.057 Streamlining process of making sanctions regulations

s.058 Urgent designation of persons by name

s.059 Urgent designation of persons by description

s.060 Specified ships

s.061 Existing sanctions regulations

s.062 Removal of reviews

s.063 Removal of reporting requirements

s.064 Court reviews: restrictions regarding damages

s.065 Sharing of information

s.066 Consequential provision

Part 4

General

0 of 4 sections shown

4 other sections in this Part — procedural and definitional

s.067 Regulations

s.068 Extent

s.069 Commencement

s.070 Short title

Schedules

2 of 70 shown

s.sch004 After section 112 insert— Offence by overseas entity (1) An overseas entity must not deliver to a person... Prosecution

Deliver qualifying registrable deed that Keeper would rejectDirector or Officer

Unlimited fine

s.sch005 After Schedule 8 insert— SCHEDULE 8A Overseas entities Section 61A... Regulated

Overseas entities must not make prohibited land dispositionsAny Person

68 other schedules

s.sch001 This Schedule sets out the required information for the purposes...

s.sch001 (1) The Secretary of State may by regulations amend this...

s.sch001 (1) The required information about an overseas entity is—

s.sch001 Individuals

s.sch001 Governments and public authorities

s.sch001 Other legal entities

s.sch001 Individuals

s.sch001 Persons other than individuals

s.sch001 (1) The required information about a trust is—

s.sch001 (1) The Secretary of State may by regulations make further...

s.sch002 Introduction

s.sch002 Joint interests

s.sch002 Joint arrangements

s.sch002 Calculating shareholdings

s.sch002 Voting rights

s.sch002 In applying this Schedule, the voting rights in a legal...

s.sch002 Rights to appoint or remove members of the board

s.sch002 References to a board of directors, in the case of...

s.sch002 Shares or rights held “indirectly”

s.sch002 Shares held by nominees

s.sch002 Registrable beneficial owners: individuals

s.sch002 Rights treated as held by a person who controls their exercise

s.sch002 Rights exercisable only in certain circumstances etc

s.sch002 Rights attached to shares held by way of security

s.sch002 Limited partnerships

s.sch002 Meaning of “director”

s.sch002 Expansion of meaning of “registrable beneficial owner” where trusts in view

s.sch002 (1) The Secretary of State may by regulations amend this...

s.sch002 Registrable beneficial owners: legal entities

s.sch002 Registrable beneficial owners: government or public authority

s.sch002 Introduction

s.sch002 Beneficial owners

s.sch002 Persons treated as beneficial owners where entity holds land as nominee

s.sch002 (1) For the purposes of this Schedule a legal entity...

s.sch002 “Exempt from being registered”

s.sch002 Holding an interest in an overseas entity etc

s.sch003 The Land Registration Act 2002 is amended as follows.

s.sch003 After section 85 insert— Overseas entities Overseas entities Schedule 4A is about the ownership of registered land by...

s.sch003 After Schedule 4 insert— SCHEDULE 4A Overseas entities Section 85A...

s.sch003 In section 128 (regulations), in subsection (4)—

s.sch003 Duty of proprietor to register as an overseas entity within transitional period

s.sch003 Registrar’s duty to enter restriction in relation to qualifying estate

s.sch003 Interpretation

s.sch004 Conveyancing (Scotland) Act 1924

s.sch004 Duty to register as an overseas entity within transitional period

s.sch004 Disapplication of certain provisions during transitional period

s.sch004 Interpretation

s.sch004 For the purposes of paragraphs 10(1)(a) and 11(1)(a)—

s.sch004 (1) The Secretary of State may by regulations make further...

s.sch004 Land Registration etc. (Scotland) Act 2012 (asp 5)

s.sch004 In section 21 (application for registration of deed)—

s.sch004 In section 27 (application for voluntary registration), after subsection (4)...

s.sch004 In section 46 (the title of which becomes “Meaning of...

s.sch004 The italic heading before section 112 becomes “Offences”.

s.sch004 In section 116(2) (orders and regulations subject to the negative...

s.sch004 After schedule 1 insert— SCHEDULE 1A Land transactions: overseas entities...

s.sch005 The Land Registration Act (Northern Ireland) 1970 is amended as...

s.sch005 After section 61 insert— Overseas entities Schedule 8A is about the ownership of registered land by...

s.sch006 Application of this Schedule

s.sch006 Duty to deliver statements and information

s.sch006 Information about changes in beneficial ownership

s.sch006 Information about trusts and changes in beneficiaries

s.sch006 Information about changes in trusts of which registrable beneficial owners trustees

s.sch006 Compliance by confirmation of information previously provided

s.sch006 Failure to comply with this Schedule

s.sch006 Obtaining information

s.sch006 Power to exclude descriptions of registrable beneficial owner

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.

ECTEA 2022

Does it bind you?

Other Acts binding the same actors

What it requires

Registration of overseas entities

Unexplained wealth orders

Sanctions

General

Schedules