(1) In this Regulation -

(a) a reference to the "first limb of the relevant definition" is a reference to point (i) of point (6)(a) of Article 3 of the Directive; and

(b) a reference to "both limbs of the relevant definition" is a reference to points (i) and (ii) of that point (6)(a).

(2) Every relevant entity shall take all reasonable steps to obtain and hold adequate, accurate and current information in respect of its beneficial owners, that is to say -

(a) the name, date of birth, nationality, and residential address of each beneficial owner of it,

(b) a statement of the nature and extent of the interest held, or the nature and extent of control exercised, by each such beneficial owner, and

(c) the PPS number of each such beneficial owner to whom such a number has been issued,

and -

(i) any PPS number so obtained shall not be disclosed by the relevant entity for any purpose of this Part, and