The Act of 1994 is amended by the insertion of the following sections after section 28:
"28A. Duty of beneficial owner (in certain circumstances) to notify status as such
(1) This section applies to an individual if -
(a) the individual is a beneficial owner of an investment limited partnership,
(b) the individual knows that to be the case or ought reasonably to do so,
(c) in relation to the individual, the particulars referred to in section 27A(1)(a) and (b) are not stated in the investment limited partnership’s beneficial ownership register,
(d) the individual has not been given a notice by the general partner under section 27B, and
(e) the circumstances specified in paragraphs (a) to (d) have continued for a period of at least one month.
(2) An individual to whom this section applies shall notify, in writing, the general partner of the investment limited partnership referred to in subsection (1) of the individual’s status (as a beneficial owner) of the investment limited partner
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