The Register of Overseas Entities (Disclosure and Dispositions) Regulations 2023

• Citation: S.I. 2023/344
• Sections: 63

Section 1 Citation and commencement

(1) These Regulations may be cited as the Register of Overseas Entities (Disclosure and Dispositions) Regulations 2023.

(2) These Regulations come into force on 11th April 2023, except for Part 3 which comes into force on 5th June 2023.

Section 2 Extent

These Regulations extend to England and Wales, Scotland and Northern Ireland, except for Part 3 which extends to England and Wales only.

Section 3 Interpretation

(1) In these Regulations—

“ the ECTEA ” means the Economic Crime (Transparency and Enforcement) Act 2022;

“ the LRA ” means the Land Registration Act 2002;

“ document ” means information in any recorded form;

“ land restriction ” means a restriction entered under paragraph 3, or a prohibition of a disposition under paragraph 4(2), of Schedule 4A to the LRA;

“ overseas entity ” has the meaning given by section 2 of the ECTEA;

“ overseas entity ID ” has the meaning given by section 5 of the ECTEA;

“ processor ” means any person who provides a service which consists of putting information into data form or processing information in data form and reference to a processor includes a reference to the processor’s employees;

“ qualifying estate ” has the meaning given in paragraph 1 of Schedule 4A to the LRA;

“ the required information about trusts ” means information delivered to the registrar by virtue of sections 4(3), 7(3) or (4), or 9(3) or (4) of the ECTEA.

“ registrar ” has the meaning given in section 3(1) of the ECTEA;

“ protected information ” means the information to which section 24(1) of the ECTEA applies;

“ specified person ” means a person who has functions of a public nature and is specified in the Schedule to these Regulations;

(2) “ Functions of a public nature ” includes—

(a) any function conferred by or in accordance with any provision contained in any enactment or subordinate legislation;

(b) any similar function conferred on persons by or under provisions having effect as part of the law of a country or territory outside the United Kingdom; and

(c) any function exercisable in relation to the investigation of any criminal offence or for the purpose of any criminal proceedings.

(3) Any reference to disclosure for the purposes of facilitating the carrying out of functions of a public nature includes disclosure in relation to, or for the purpose of, any proceedings whether civil, criminal or disciplinary in which the specified public authority engages while carrying out its functions of a public nature.

Section 4 Permitted disclosure of the required information about trusts

(1) The registrar may disclose to any specified person the required information about trusts for the purposes of section 23 of the ECTEA.

Section 5 Permitted disclosure of protected information

(1) Subject to paragraph (2), the registrar may disclose to any specified person protected information for the purposes of section 24 of the ECTEA.

(2) The registrar may only disclose protected information if—

(a) the specified person has delivered to the registrar a statement that the disclosure of protected information is for the purpose of facilitating the carrying out by that specified person of functions of a public nature (“the permitted purpose”);

(b) unless the specified person is the National Crime Agency, Secret Intelligence Service, Security Service or Government Communications Headquarters, the specified person has delivered to the registrar a statement that, where it supplies a copy of protected information to a processor for the purpose of processing that protected information for use in respect of the permitted purpose, the specified person will—

(i) ensure that the processor is one who carries on business in the United Kingdom or the European Economic Area;

(ii) require that the processor does not transmit the protected information outside the area comprising the United Kingdom and the European Economic Area; and

(iii) require that the processor does not disclose the protected information except to that specified person or an employee of that specified person;

(c) the specified person has delivered any information or evidence required by the registrar for the purpose of enabling the registrar to determine in accordance with these Regulations whether to disclose the protected information; and

(d) the specified person has complied with any requirement by the registrar to confirm the accuracy of the statements, information or evidence pursuant to these Regulations.

Section 6 Who may apply for consent

An application under regulation 7 may be made by—

(a) a person to whom the disposition of a qualifying estate was made; or

(b) a person acting on behalf of the person to whom paragraph (a) applies.

Section 7 Applications for consent

(1) An application to the Secretary of State for consent to the registration of a disposition of a qualifying estate that would otherwise be prohibited by a land restriction must—

(a) state the applicant’s name;

(b) state the applicant’s address;

(c) state the applicant’s email address;

(d) include the following in relation to the qualifying estate—

(i) the title number of the parent title;

(ii) the address, including the post code;

(e) include the name of the overseas entity which is the proprietor of the qualifying estate;

(f) if available, include the overseas entity ID of the overseas entity referred to in sub-paragraph (e);

(g) include a statement explaining why the applicant considers that the Secretary of State should consent for the registration of the disposition of the qualifying estate;

(h) if the applicant is a person referred to in regulation 6(b), a statement explaining how the applicant is acting on behalf of the person referred to in regulation 6(a).

(2) An application referred to in paragraph (1) must also be accompanied by any documents or information which support the application.

Section 8 Notification of a determination

As soon as is reasonably practicable after determining an application made under regulation 7, the Secretary of State must notify the outcome of the application to the applicant.

Section 9 Matters relating to an application made under regulation 7

(1) For the purpose of determining an application made under regulation 7, the Secretary of State may direct the applicant to provide additional information or evidence within a specified period.

(2) Where an applicant does not provide additional information or evidence within the period specified in the direction referred to in paragraph (1), the Secretary of State may dismiss the application and must notify the applicant of the decision.

Section 1

The Bank of England.

Section 2

The Charity Commission.

Section 3

The Charity Commission for Northern Ireland.

Section 4

The Commissioners for Her Majesty’s Revenue and Customs.

Section 5

The Competition and Markets Authority.

Section 6

The Crown Office and Procurator Fiscal Services.

Section 7

The Director of Public Prosecutions.

Section 8

The Director of Public Prosecutions for Northern Ireland.

Section 9

The Financial Conduct Authority.

Section 10

The Food Standards Agency.

Section 11

The Gas and Electricity Markets Authority.

Section 12

The Gambling Commission.

Section 13

The Gangmasters Licensing Authority.

Section 14

The Government Communications Headquarters.

Section 15

The Health and Safety Executive.

Section 16

The Health and Safety Executive for Northern Ireland.

Section 17

The Marine Management Organisation.

Section 18

The Minister for the Cabinet Office.

Section 19

The National Crime Agency.

Section 20

The Northern Ireland Authority for Utility Regulation.

Section 21

Any Northern Ireland Department.

Section 22

The Office of Communications.

Section 23

The Office of the Information Commissioner.

Section 24

The Office for Nuclear Regulation.

Section 25

The Office of the Scottish Charity Regulator.

Section 26

The Official Receiver for Northern Ireland.

Section 27

The Panel on Takeovers and Mergers.

Section 28

The Pensions Regulator.

Section 29

The Prudential Regulation Authority.

Section 30

The Registry of Credit Unions and Industrial and Provident Societies for Northern Ireland.

Section 31

The Regulator of Community Interest Companies.

Section 32

The Scottish Housing Regulator.

Section 33

The Scottish Ministers.

Section 34

The Security Industry Authority.

Section 35

The Secret Intelligence Service.

Section 36

The Secretary of State.

Section 37

The Security Service.

Section 38

The Serious Fraud Office.

Section 39

The Treasury.

Section 40

The Treasury Solicitor.

Section 41

The Welsh Ministers.