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Economic Crime (Transparency and Enforcement) Act 2022

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This is the original version (as it was originally enacted).

16Verification of registrable beneficial owners and managing officers

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(1)The Secretary of State must by regulations make provision requiring the verification of information before an overseas entity—

(a)makes an application under section 4 for registration;

(b)complies with the updating duty under section 7;

(c)makes an application under section 9 for removal.

(2)Regulations under this section may, among other things, make provision—

(a)about the information that must be verified;

(b)about the person by whom the information must be verified;

(c)requiring a statement, evidence or other information to be delivered to the registrar for the purposes of sections 4(1)(c), 7(1)(d) and 9(1)(e).

(3)The first regulations under this section must be made so as to come into force before any applications may be made under section 4(1).

(4)Regulations under this section are subject to the negative resolution procedure.

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