The Register of Overseas Entities (Definition of Foreign Limited Partner, Protection and Rectification) Regulations 2023

The Register of Overseas Entities (Definition of Foreign Limited Partner, Protection and Rectification) Regulations 2023 as regards the registration of beneficial owners in the corresponding UK registry in accordance with the Economic Crime (Transparency and Enforcement) Act 2022 were published on legislation.gov.uk, the official website for publicizing legal texts in UK. The regulations
(1) provide a comprehensive definition of „foreign limited partner” for purposes of determining whether or not such partner of a foreign entity must be registered within the registry;
(2) remove a provision as regards an application for the protection of personal data from disclosure in the registry to allow individuals to file for such application, if they can demonstrate that any such disclosure would put them at risk. The previous condition that they must demonstrate the „risk of violence or intimidation arising directly from the individual’s association with the overseas entity“ is removed;
(3) adopt provisions to allow the registrar to remove information submitted by foreign entities that is false, forged, or made without consent by the submitting entity, and
(4) stipulates the application process that must be followed by foreign entities when they seek removal of information from the registry on the grounds of the reasons noted in (3).