Section 159 — Registration of information about trusts

(1) Paragraph 8 of Schedule 1 to the Economic Crime (Transparency and Enforcement) Act 2022 (required information) is amended as follows.

(2) In sub-paragraph (1), for paragraphs (d) to (f) substitute— (d) the specified details of each beneficiary under the trust; (e) the specified details of each settlor or grantor and, in relation to any settlor or grantor that is a legal entity, the specified details of any person who at the time at which the trust is settled— (i) is a registrable beneficial owner in relation to that entity (if it is overseas entity), or (ii) would be a registrable beneficial owner in relation to the entity if that entity were an overseas entity; (f) the specified details of any interested person under the trust and the date on which they became an interested person.

(3) After sub-paragraph (1) insert— (1A) In sub-paragraph (1)(d) to (f) “the specified details”— (a) in relation to a person who is an individual, means— (i) name, date of birth and nationality; (ii) usual residential address; (iii) a service address; (b) in relation to a person that is a legal entity, means— (i) name; (ii) principal office; (iii) a service address; (iv) the legal form of the entity and the law by which it is governed; (v) any public register in which it is entered and, if applicable, its registration number in that register.

(4) In sub-paragraph (2), for “sub-paragraph (1)(c)” substitute “sub-paragraphs (1)(c) and (1A)(a)”.