Economic Crime and Corporate Transparency Act 2023
Economic Crime and Corporate Transparency Act 2023 (2023 c. 56)
- Economic Crime and Corporate Transparency Act 2023 (2023 c. 56)
- PART 1 Companies etc
- The registrar of companies
- 1 The registrar’s objectives
- Company formation
- 2 Statement as to lawful purposes
- 3 Information about subscribers
- 4 Proposed officers: identity verification
- 5 Proposed officers: disqualification
- 6 Persons with initial significant control: disqualification
- 7 Persons with initial significant control: identity verification
- Company names
- 8 Names for criminal purposes
- 9 Names suggesting connection with foreign governments etc
- 10 Names containing computer code
- 11 Prohibition on re-registering name following direction
- 12 Prohibition on using name that another company has been directed to change
- 13 Directions to change name: period for compliance
- 14 Requirements to change name: removal of old name from public inspection
- 15 Objections to company’s registered name
- 16 Misleading indication of activities
- 17 Direction to change name used for criminal purposes
- 18 Direction to change name wrongly registered
- 19 Registrar’s power to change names containing computer code
- 20 Registrar’s power to change company’s name for breach of direction
- 21 Sections 19 and 20: consequential amendments
- 22 Company names: exceptions based on national security etc
- Business names
- 23 Use of name suggesting connection with foreign governments etc
- 24 Use of name giving misleading indication of activities
- 25 Use of name that a company has been required to change
- 26 Use of name that another company has been required to change
- 27 Use of names: exceptions based on national security etc
- Registered offices
- 28 Registered office: appropriate address
- Registered email addresses
- 29 Registered email addresses etc
- 30 Registered email addresses: transitional provision
- Disqualification in relation to companies
- 31 Disqualification for persistent breaches of companies legislation: GB
- 32 Disqualification for persistent breaches of companies legislation: NI
- 33 Disqualification on summary conviction: GB
- 34 Disqualification on summary conviction: NI
- 35 Power to impose director disqualification sanctions
- 36 Disqualification of persons designated under sanctions legislation: GB
- 37 Section 36: application to other bodies
- 38 Disqualification of persons designated under sanctions legislation: NI
- 39 Section 38: application to other bodies
- Directors
- 40 Disqualified directors
- 41 Section 40: amendments to clarify existing corresponding provisions
- 42 Repeal of power to require additional statements
- 43 Prohibition on director acting unless ID verified
- 44 Prohibition on acting unless directorship notified
- 45 Registrar’s power to change a director’s service address
- Register of members
- 46 Register of members: information to be included and powers to obtain it
- 47 Additional ground for rectifying the register of members
- 48 Register of members: protecting information
- 49 Register of members: removal of option to use central register
- 50 Membership information: one-off statement
- Registration of directors, secretaries and persons with significant control
- 51 Abolition of local registers etc
- 52 Protection of date of birth information
- Accounts and reports
- 53 Filing obligations of micro-entities
- 54 Filing obligations of small companies other than micro-entities
- 55 Sections 53 and 54: consequential amendments
- 56 Use or disclosure of profit and loss accounts for certain companies
- 57 Statements about exemption from audit requirements
- 58 Removal of option to abridge Companies Act accounts
- Confirmation statements
- 59 Confirmation statements
- 60 Duty to confirm lawful purposes
- 61 Duty to notify a change in company’s principal business activities
- 62 Duty to deliver information about exemption from Part 21A
- 63 Confirmation statements: offences
- Identity verification
- 64 Identity verification of persons with significant control
- 65 Procedure etc for verifying identity
- 66 Authorisation of corporate service providers
- 67 Exemption from identity verification: national security grounds
- 68 Allocation of unique identifiers
- 69 Identity verification: material unavailable for public inspection
- Striking off and restoration to the register
- 70 Registrar’s power to strike off company registered on false basis
- 71 Requirements for administrative restoration
- Who may deliver documents
- 72 Delivery of documents: identity verification etc
- 73 Disqualification from delivering documents
- 74 Proper delivery: requirements about who may deliver documents
- Facilitating electronic delivery
- 75 Delivery of documents by electronic means
- 76 Delivery of order confirming reduction of share capital
- 77 Delivery of statutory declaration of solvency
- 78 Registrar’s rules requiring documents to be delivered together
- Promoting the integrity of the register
- 79 Power to reject documents for inconsistencies
- 80 Informal correction of document
- 81 Preservation of original documents
- 82 Records relating to dissolved companies etc
- 83 Power to require additional information
- 84 Registrar’s notice to resolve inconsistencies
- 85 Administrative removal of material from the register
- 86 Rectification of the register under court order
- 87 Power to require businesses to report discrepancies
- Inspection etc of the register
- 88 Inspection of the register: general
- 89 Copies of material on the register
- 90 Material not available for public inspection
- 91 Protecting information on the register
- Registrar's functions and fees
- 92 Analysis of information for the purposes of crime prevention or detection
- 93 Fees: costs that may be taken into account
- Information sharing and use
- 94 Disclosure of information
- 95 Use or disclosure of directors’ address information by companies
- 96 Use or disclosure of PSC information by companies
- 97 Use of directors’ address information by registrar
- Overseas companies
- 98 Change of addresses of officers of overseas companies by registrar
- 99 Overseas companies: availability of material for public inspection etc
- 100 Registered addresses of an overseas company
- 101 Overseas companies: identity verification of directors
- General offences and enforcement
- 102 General false statement offences
- 103 False statement offences: national security etc defence
- 104 Financial penalties
- Rectification of addresses and service of documents
- 105 Registered office: rectification of register
- 106 Rectification of register: service addresses
- 107 Rectification of register: principal office addresses
- 108 Service of documents on people with significant control
- PART 2 Partnerships
- CHAPTER 1 Limited partnerships etc.
- Meaning of “limited partnership”
- 109 Meaning of “limited partnership”
- Required information about limited partnerships
- 110 Required information about partners
- 111 Required information about partners: transitional provision
- 112 Details about general nature of partnership business
- Registered offices
- 113 A limited partnership’s registered office
- 114 A limited partnership’s registered office: transitional provision
- 115 A limited partnership’s registered office: consequential amendments
- Registered email addresses
- 116 A limited partnership’s registered email address
- 117 A limited partnership’s registered email address: transitional provision
- The general partners
- 118 Restrictions on general partners
- 119 Officers of general partners
- 120 Officers of general partners: transitional provision
- Removal of option to authenticate application by signature
- 121 Removal of option to authenticate application by signature
- Changes in partnerships
- 122 Notification of information about partners
- 123 New partners: transitional provision about required information
- 124 New general partners: transitional provision about officers
- 125 Notification of other changes
- 126 Confirmation statements
- 127 Confirmation statements: Scottish partnerships
- Accounts
- 128 Power for HMRC to obtain accounts
- Dissolution, winding up and sequestration
- 129 Dissolution and winding up: modifications of general law
- 130 Dissolution by the court when a partner has a mental disorder
- 131 Winding up limited partnerships on grounds of public interest
- 132 Winding up dissolved limited partnerships
- 133 Power to make provision about winding up
- 134 Winding up of limited partnerships: concurrent proceedings
- 135 Sequestration of limited partnerships: concurrent winding up proceedings
- The register of limited partnerships
- 136 The register of limited partnerships
- 137 Material not available for public inspection
- 138 Records relating to dissolved or deregistered limited partnerships
- Disclosure of information
- 139 Disclosure of information about partners
- The registrar's role relating to dissolution, revival and deregistration
- 140 Duty to notify registrar of dissolution
- 141 Registrar’s power to confirm dissolution of limited partnership
- 142 Registrar’s power to confirm dissolution: transitional provision
- 143 Voluntary deregistration of limited partnership
- 144 Removal of limited partnership from index of names
- Delivery of documents
- 145 Delivery of documents relating to limited partnerships
- 146 General false statement offences
- National security exemption from identity verification
- 147 National security exemption from identity verification
- Service on a limited partnership
- 148 Service on a limited partnership
- Application of other laws
- 149 Application of company law
- 150 Application of Partnership Act 1890 (meaning of firm)
- Regulations
- 151 Limited partnerships: regulations
- Further amendments
- 152 Limited partnerships: further amendments
- CHAPTER 2 Miscellaneous provision about partnerships
- 153 Registration of qualifying Scottish partnerships
- 154 Power to amend disqualification legislation in relation to relevant entities: GB
- 155 Power to amend disqualification legislation in relation to relevant entities: NI
- PART 3 Register of overseas entities
- The register and registration
- 156 Register of overseas entities
- 157 Required information about overseas entities: address information
- 158 Registration of information about land
- 159 Registration of information about trusts
- 160 Registration of information about managing officers: age limits
- 161 Registrable beneficial owners: cases involving trusts
- 162 Registrable beneficial owners: nominees
- 163 Information about changes in beneficiaries under trusts
- 164 Applications for removal
- 165 Verification of registrable beneficial owners and managing officers
- Inspection of the register and protection of information
- 166 Material unavailable for public inspection: verification information
- 167 Material unavailable for public inspection
- 168 Protection of information
- Correction or removal of material on the register
- 169 Resolving inconsistencies in the register
- 170 Administrative removal of material from register
- Offences
- 171 False statement offences in connection with information notices
- 172 General false statement offences
- 173 Enforcement of requirement to register: updated language about penalties etc
- Miscellaneous
- 174 Overseas entities: further information for transitional cases
- 175 Financial penalties: interaction with offences
- 176 Meaning of “service address”
- 177 Meaning of “registered overseas entity” in land registration legislation
- 178 Power to apply Part 1 amendments to register of overseas entities
- PART 4 Cryptoassets
- 179 Cryptoassets: confiscation orders
- 180 Cryptoassets: civil recovery
- 181 Cryptoassets: terrorism
- PART 5 Miscellaneous
- Money laundering and terrorist financing
- 182 Money laundering: exiting and paying away exemptions
- 183 Money laundering: exemptions for mixed-property transactions
- 184 Money laundering: offences of failing to disclose
- 185 Money laundering: information orders
- 186 Terrorist financing: information orders
- 187 Enhanced due diligence: designation of high-risk countries
- Disclosures to prevent, detect or investigate economic crime etc
- 188 Direct disclosures of information: restrictions on civil liability
- 189 Indirect disclosure of information: restrictions on civil liability
- 190 Meaning of “privileged disclosure”
- 191 Meaning of “relevant actions”
- 192 Meaning of “business relationship”
- 193 Other defined terms in sections 188 to 191
- Power to strike out certain claims
- 194 Strategic litigation against public participation: requirement to make rules of court
- 195 Meaning of “SLAPP” claim
- ...
- 196 Attributing criminal liability for economic crimes to certain bodies
- 197 Power to amend list of economic crimes
- 198 Offences under section 196 committed by partnerships
- Failure to prevent fraud
- 199 Failure to prevent fraud
- 200 Fraud offences: supplementary
- 201 Section 199: large organisations
- 202 Large organisations: parent undertakings
- 203 Offences under section 199 committed by partnerships
- 204 Guidance about preventing fraud offences
- 205 Failure to prevent fraud: minor definitions
- 206 Failure to prevent fraud: miscellaneous
- Regulatory and investigatory powers
- 207 Law Society: powers to fine in cases relating to economic crime
- 208 Scottish Solicitors’ Discipline Tribunal: powers to fine in cases relating to economic crime
- 209 Regulators of legal services: objective relating to economic crime
- 210 Approved regulators: information powers relating to economic crime
- 211 Serious Fraud Office: pre-investigation powers
- Reports on payments to governments
- 212 Reports on payments to governments regulations: false statement offences etc
- Reports on implementation
- 213 Reports on the implementation and operation of Parts 1 to 3
- Sanctions enforcement: monetary penalties
- 214 Sanctions enforcement: monetary penalties
- Report on costs orders for proceedings for civil recovery
- 215 Report on costs orders for proceedings for civil recovery
- PART 6 General
- 216 Power to make consequential provision
- 217 Regulations
- 218 Extent
- 219 Commencement
- 220 Transitional provision
- 221 Short title
- SCHEDULES
- SCHEDULE 1 Register of members: consequential amendments
- SCHEDULE 2 Abolition of certain local registers
- PART 1 Register of directors
- PART 2 Register of secretaries
- PART 3 Register of people with significant control
- PART 4 Consequential amendments
- SCHEDULE 3 Disclosure of information: consequential amendments
- Companies Act 2006
- Economic Crime (Transparency and Enforcement) Act 2022
- SCHEDULE 4 Required information
- SCHEDULE 5 Limited partnerships: consequential amendments
- SCHEDULE 6 Duty to deliver information about changes in beneficiaries
- SCHEDULE 7 Overseas entities: further information for transitional cases
- SCHEDULE 8 Cryptoassets: confiscation orders
- PART 1 England and Wales
- Introductory
- Seizure of property
- Detention and release of property
- Property held by persons subject to confiscation orders: destruction, realisation etc
- Interpretation and miscellaneous provision
- PART 2 Scotland
- Introductory
- Seizure of property
- Detention and release of property
- Property held by persons subject to confiscation orders: destruction, realisation etc
- Interpretation and miscellaneous provision
- PART 3 Northern Ireland
- Introductory
- Seizure of property
- Detention and release of property
- Property held by persons subject to confiscation orders: destruction, realisation etc
- Interpretation and miscellaneous provision
- PART 4 Regulations
- SCHEDULE 9 Cryptoassets: civil recovery
- PART 1 Amendments of Part 5 of the Proceeds of Crime Act 2002
- PART 2 Consequential and other amendments
- Amendments to the Proceeds of Crime Act 2002
- Amendments to the Civil Jurisdiction and Judgments Act 1982
- Amendments to the UK Borders Act 2007
- SCHEDULE 10 Cryptoassets: terrorism
- PART 1 Amendments to the Anti-terrorism, Crime and Security Act 2001
- PART 2 Amendments to the Terrorism Act 2000
- SCHEDULE 11 Economic crime offences
- Common law offences
- Statutory offences
- SCHEDULE 12 Criminal liability of bodies: economic crimes
- Common law offences
- Statutory offences
- SCHEDULE 13 Failure to prevent fraud: fraud offences
- Common law offences
- Statutory offences
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