Moved by
Lord Callanan
25: Clause 12, page 8, line 28, leave out from “obtain” to end of line 29 and insert “, for the purposes of the application under section 4 or 9 or for the purposes of complying with the updating duty under section 7—
(i) the required information about each registrable beneficial owner, and
(ii) in respect of any registrable beneficial owner who is a trustee, the required information about the trust.”
Member’s explanatory statement
This amendment requires an overseas entity to take reasonable steps to obtain information about trusts, where relevant.
26: Clause 12, page 8, line 40, at end insert “, and
(c) if the person is a registrable beneficial owner by virtue of being a trustee, to confirm or correct any of the required information about the trust that is specified in the notice and to supply any of the required information about the trust that the notice states the overseas entity does not already have.”
Member’s explanatory statement
This amendment requires an information notice under clause 12 to deal with information about trusts, where relevant.