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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 22 March 2019 - onwards
  Version 3 of 3    

Regulation 14 Duty to keep and maintain a beneficial ownership register

Revoked from 22 March 2019

(1) A relevant entity shall keep and maintain a register (which shall be known, and is in these Regulations referred to, as a "beneficial ownership register") in which there shall be entered by it the information referred to in Regulation 4(2) to (4).

(2) A relevant entity that fails to comply with paragraph (1) commits an offence and shall be liable, on summary conviction, to a class A fine.

(3) If -

(a) the name of any person is, without sufficient cause, entered in or omitted from a a relevant entity’s beneficial ownership register, or

(b) default is made or unnecessary delay takes place in entering in a relevant entity’s beneficial ownership register the fact that a person has ceased to be a beneficial owner of it,

the person aggrieved or any other interested party may apply to the High Court for rectification of the register.

(4) Where an application is made under paragraph (3), the High Court may either refuse the application or may order rectification of the beneficial