(1) Without prejudice to the generality of section 27A(1), a general partner of an investment limited partnership shall give to any individual whom it has reasonable cause to believe to be a beneficial owner of the investment limited partnership the notice specified in subsection (2), but this is subject to subsection (5).

(2) The notice referred to in subsection (1) is a notice, addressed to the individual concerned, that requires the addressee -

(a) to state whether or not he or she is a beneficial owner of the investment limited partnership, and

(b) if so, to confirm or correct any particulars of his or hers that are included in the notice, and supply any that are missing,

and such a notice is referred to subsequently in this section as a notice under this section.

(3) A notice under this section shall -

(a) state that it is given under ‘section 27B of the Investment Limited Partnerships Act 1994’, and

(b) as respects each of the particulars referred to in section 27A(1)(a), (b) and (c) -

(i) set out that which -

(I) to the knowledge of the general partner is, or