SCHEDULES

SCHEDULE 1Applications: required information

PART 5Trusts

8

1

The required information about a trust is—

a

the name of the trust or, if it does not have a name, a description by which it may be identified;

b

the date on which the trust was created;

c

in relation to each person who has at any time been a registrable beneficial owner in relation to the overseas entity by virtue of being a trustee of the trust—

i

the person’s name,

ii

the date on which the person became a registrable beneficial owner in that capacity, and

iii

if relevant, the date on which the person ceased to be a registrable beneficial owner in that capacity;

d

in relation to each beneficiary under the trust, the information that would be required under paragraph 3(1)(a) to (c) or 5(1)(a) to (e) if the beneficiary were a registrable beneficial owner in relation to the overseas entity;

e

in relation to each settlor or grantor, the information that would be required under paragraph 3(1)(a) to (c) or 5(1)(a) to (e) if the settlor or grantor were a registrable beneficial owner in relation to the overseas entity;

f

in relation to any interested person (see sub-paragraph (3))—

i

the information that would be required under paragraph 3(1)(a) to (c) or 5(1)(a) to (e) if the interested person were a registrable beneficial owner in relation to the overseas entity, and

ii

the date on which the person became an interested person.

2

In sub-paragraph (1)(c), “name”, in relation to an individual, has the meaning given by paragraph 3(2).

3

In sub-paragraph (1)(f), “interested person”, in relation to a trust, means any person who, under the terms of the trust, has rights in respect of—

a

the appointment or removal of trustees, or

b

the exercise by the trustees of their functions.