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Scottish Partnerships (Register of People with Significant Control) Regulations 2017 [SI 2017 No. 694]Introductory TextPart 1 General Introductory Provisions (regs. 1 -3)Regulation 1 Citation and commencementRegulation 2 InterpretationRegulation 3 Key termsPart 2 Amendment of registration requirement for Scottish Limited Partnerships (reg. 4)Regulation 4 Amendment of the Limited Partnerships Act 1907Part 3 Registration of Scottish qualifying partnerships (regs. 5-9)Regulation 5 Duty on Scottish qualifying partnerships to registerRegulation 6 Registration informationRegulation 7 Notification of changes to the registration informationRegulation 8 Effect of a partnership ceasing to be a Scottish qualifying partnershipRegulation 9 Offences in relation to registrationPart 4 Information duties (regs. 10-18)Regulation 10 Duty to investigate and obtain informationRegulation 11 Duty to keep information up to dateRegulation 12 Failure by an eligible Scottish partnership to comply with information dutiesRegulation 13 Duty on others to supply informationRegulation 14 Duty on others to update informationRegulation 15 Enforcement of disclosure requirementsRegulation 16 Power to make exemptionsRegulation 17 Required particularsRegulation 18 Nature of control over an eligible Scottish partnershipPart 5 Duties to deliver information to the registrar (regs. 19-34)Regulation 19 Duty to deliver information to the registrarRegulation 20 Regulation Duty to deliver information about a relevant changeRegulation 21 Meaning of "confirmed"Regulation 22 Usual residential addressRegulation 23 Additional matters to be notified to the registrar where there is no registrable person or registrable relevant legal entityRegulation 24 Additional matters where there is an unidentified registrable personRegulation 25 Additional matters where an identified registrable person's particulars are not confirmedRegulation 26 Additional matters where investigations by an eligible Scottish partnership are ongoingRegulation 27 Additional matters where there is a failure to comply with a notice given under regulation 10Regulation 28 Additional matters where there is a failure to comply with a notice given under regulation 11Regulation 29 Additional matters where a notice given under regulation 10 or 11 is complied with after the time specified in the noticeRegulation 30 Additional matters where an eligible Scottish partnership has issued a restrictions noticeRegulation 31 End-dating of additional mattersRegulation 32 Offences in relation to this PartRegulation 33 Information as to the state of the registerRegulation 34 Power of court to order an eligible Scottish partnership to remedy default or delayPart 6 Confirmation statement (regs. 35-38)Regulation 35 Duty to deliver a confirmation statementRegulation 36 Meaning of "confirmation period" and "confirmation date"Regulation 37 Review periodRegulation 38 Failure to deliver a confirmation statementPart 7 The protection of usual residential address information (regs. 39-43)Regulation 39 Information as to usual residential addressRegulation 40 Restriction on use or disclosure of URA information by an eligible Scottish partnershipRegulation 41 Restriction on disclosure of URA information by the registrarRegulation 42 Permitted use or disclosure by the registrarRegulation 43 Disclosure under court orderPart 8 The protection of secured information (regs. 44-57)Regulation 44 Circumstances in which the registrar must omit secured information from material on the register available for public inspectionRegulation 45 Circumstances in which the registrar must not disclose secured informationRegulation 46 Fee payable for the disclosure by the registrar of secured information to a specified public authorityRegulation 47 Fee payable for the disclosure by the registrar of secured information to a credit institution or a financial institutionRegulation 48 Application by an individual requiring the registrar to refrain from disclosing that individual's secured informationRegulation 49 Application by an eligible Scottish partnership requiring the registrar to refrain from disclosing an individual's secured informationRegulation 50 Application by a prospective partner in a prospective eligible Scottish partnership requiring the registrar to refrain from disclosing an individual's secured informationRegulation 51 Matters relating to an application made under regulation 48, 49 or 50Regulation 52 Withdrawal of an application made under regulation 48, 49 or 50Regulation 53 Appeal against an unsuccessful application made under regulation 48, 49 or 50Regulation 54 Unsuccessful determination made under regulation 48, 49 or 50Regulation 55 Duration of a determination under regulation 48, 49 or 50Regulation 56 Revocation of a determination under regulation 48(5), 49(5) or 50(5)Regulation 57 Protection by an eligible Scottish partnership of secured informationPart 9 Application of the Companies Act 2006 (regs. 58-77)Application of Part 35 of the Companies Act 2006 (regs. 58-69)Regulation 58Regulation 59Draft Regulation 59ARegulation 60Regulation 61Regulation 61ARegulation 62Regulation 63Regulation 64Regulation 65Regulation 66Regulation 67Regulation 67ARegulation 68Regulation 69Application of Part 36 of the Companies Act 2006 (regs. 70-74)Regulation 70Regulation 71Regulation 72Regulation 73Regulation 74Application of Part 37 of the Companies Act 2006 (regs. 75-76)Regulation 75Regulation 76Regulation 77 Interpretation of this PartPart 10 Consequential amendments, transitional provision, and review (regs. 78-83)Regulation 78 Consequential amendment to the Companies Act 2006Regulation 79 Consequential amendment to the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009Regulation 80 Transitional provision in relation to regulations 78 and 79Regulation 81 Consequential amendment to the Limited Partnerships (Forms) Rules 2009Regulation 82 Protection for registrable persons applying for protection of secured informationRegulation 83 ReviewSchedule 1 References to people with significant control over an eligible Scottish partnershipSchedule 1, Part 1 The specified conditions (paras. 1-6)Schedule 1, Part 2 Holding an interest in an eligible Scottish partnership etc. (paras. 7-9)Schedule 1, Part 3 Interpretation of Schedule 1 (paras. 10-19)Schedule 2 Enforcement of disclosure requirementsSchedule 3 Statements required as to the nature of controlSchedule 3, Part 1 First Condition (paras. 1-3)Schedule 3, Part 2 Second Condition (paras. 4-6)Schedule 3, Part 3 Third Condition (para. 7)Schedule 3, Part 4 Fourth Condition (para. 8)Schedule 3, art 5 Fifth Condition and Trusts (paras. 9-16)Schedule 3, Part 6 Fifth Condition and Firms (paras. 17-24)Schedule 3, Part 7 Interpretation of Schedule 3 (para. 25)Schedule 4 Specified public authoritiesSchedule 5 Conditions for permitted disclosureSchedule 5, Part 1 Disclosure to Specified Public Authorities (paras. 1-5)Schedule 5, Part 2 Disclosure to a Credit Institution or a Financial Institution (paras. 6-13)Schedule 5, Part 3 Interpretation of Schedule 5 (para. 14)Schedule 6 New Schedule to the Limited Partnerships (Forms) Rules 2009SignatureExplanatory NoteExplanatory MemorandumImpact Assessment
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Version status: | Document consolidation status: Updated to reflect all known changes
Version date: 22 June 2017 - onwards

Explanatory Note

(This note is not part of the Regulations)

These Regulations transpose Article 30 (beneficial ownership information) of Directive 2015/849/EU of the European Parliament and of the Council of 20 May 2015 (OJ L 141, 05.06.15, p.73) ("the Directive") on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, for Scottish limited partnerships and certain Scottish general partnerships, defined in regulation 3.

Existing national measures partially implement Article 30 of the Directive -

(a) Part 21A of the Companies Act 2006 and the Register of People with Significant Control Regulations 2016 (S.I. 2016/339) for companies;

(b) the Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009 (S.I. 2009/1804), as amended by the Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016 (S.I. 2016/340) for limited liability partnerships; and

(c) the European Public Limited-Liability Company (Register of People with Significant Control) Regulations 2016 (S.I. 2016/375) for European public limited-liability companies (Societas Europaea).

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