(1) This section applies where particulars of an individual, as being a beneficial owner of a common contractual fund, are entered in the common contractual fund's beneficial ownership register.

(2) For the purposes of this section, a relevant change occurs if -

(a) the individual referred to in subsection (1) ceases to be a beneficial owner of the common contractual fund, or

(b) any other change occurs as a result of which the particulars (stated in the foregoing register) in relation to the natural person are incorrect or incomplete.

(3) Where this section applies, the management company shall, in accordance with subsection (4), give the notice referred to in subsection (5) to the individual if it knows or has reasonable cause to believe that a relevant change has occurred, but this is subject to subsection (8).

(4) The foregoing notice shall be given by the management company as soon as reasonably practicable after it learns of the change concerned or first has reasonable cause to believe that the change concerned has occurred.

(5) The notice referred to in subsection (3) is a notice, addressed to the individual concerned, that requires the addressee -

(a) to confirm whether or not the change concerned has occurred, and

(b) if so -