PART 3Register of overseas entities

The register and registration

I1I2164Applications for removal

1

Section 10 of the Economic Crime (Transparency and Enforcement) Act 2022 (processing of application for removal) is amended as follows.

2

In subsection (2), after “land” insert “and there are no updates pending”.

3

In subsection (3), after “land” insert “or there is an update pending”.

4

After subsection (3) insert—

3A

For the purposes of subsections (2) and (3) an update is pending if—

a

an update period for the entity has ended and the entity has not yet complied with the duty under section 7 in respect of that period, or

b

the entity is required to deliver information under Schedule 6 but has not yet done so.