(1) This Regulation applies where particulars of a natural person, as being a beneficial owner of the relevant entity, are entered in a relevant entity’s beneficial ownership register.
(2) For the purposes of this Regulation, a relevant change occurs if -
(a) the natural person referred to in paragraph (1) ceases to be a beneficial owner of the relevant entity, or
(b) any other change occurs as a result of which the particulars (stated in the foregoing register) in relation to the natural person are incorrect or incomplete.
(3) Where this Regulation applies, the relevant entity shall, in accordance with paragraph (4), give the notice referred to in Regulation 10 to the natural person if it knows or has reasonable cause to believe that a relevant change has occurred, but this is subject to Regulation 10(4).
(4) The foregoing notice shall be given by the relevant entity as soon as reasonably practicable after it learns of the change concerned or first has reasonable cause to belie