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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 March 2021 - onwards

54. Duty to keep information in beneficial ownership register and central register aligned and up to date.

(1) The purpose of this section is to require that any changes that occur in the information contained in an investment limited partnership's beneficial ownership register be reflected by a corresponding change being made in the central register; accordingly there is imposed on the general partner of an investment limited partnership by this section an obligation - referred to in this section as the 'follow up obligation' - to deliver information to the Registrar so as to allow any such change to be reflected in the central register.

(2) The provisions of this section shall have effect in relation to an investment limited partnership following the discharge by the general partner of the investment limited partnership of its initial central filing obligation (and in subsection (3) the time on which that obligation is so discharged is referred to as the 'relevant time').

(3) Where at any time, subsequent to the relevant time, the obligation referred to in subsection (4) falls to be discharged by a general partner of the investment limited partnership, then there is also imposed on the general partner, by this section, the follow up obligation specified in subsection (5).

(4) The first-mentioned obligation in subsection (3) of the general partner is the obligation to -