The Register of Overseas Entities (Protection and Trusts) (Amendment) Regulations 2025

4 Access to trust information

(1) The registrar may, on application, disclose relevant protected trusts information to any person, subject to paragraphs (2), (2A) and (5). (2) Where the application is for the disclosure of relevant protected trusts information which relates to— (a) more than one overseas entity, or (b) a person under eighteen years of age, the registrar may only disclose that information if the registrar is satisfied that the applicant has a legitimate interest in having such information disclosed to them. (2A) Where the application is for the disclosure of relevant protected trusts information only some of which relates to a person (“P”) under eighteen years of age, nothing in paragraph (2) prevents the disclosure of relevant protected trusts information which does not relate to P. (3) The application must contain— (a) the name, and any former name, of the applicant; (b) contact details for the applicant including service address, email address and telephone number; (c) if the applicant is making the application in the course of their employment, the applicant’s job title and the name and address of their employer; (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (e) the name and overseas entity ID, allocated in accordance with section 5 (registration and allocation of overseas entity ID) of the ECTEA, of the overseas entity whose registrable beneficial owner is acting as a trustee of any trust to which the relevant protected trusts information relates; and (f) where paragraph (2) applies— (i) evidence that the applicant is investigating money laundering, tax evasion, terrorist financing or breaching of sanctions imposed by regulations under the Sanctions and Anti-Money Laundering Act 2018; (ii) a statement that they are requesting the relevant protected trusts information in order to further that investigation; and (iii) a statement of how they are planning to use any relevant protected trusts information disclosed to them. (4) Where an application does not contain the information in paragraph 3(f), the registrar may, by sending a notice in writing to the applicant, require such information of the applicant where it is necessary to satisfy the condition in paragraph (2). (5) The registrar may refuse an application where— (a) the disclosure may prejudice an ongoing criminal investigation or adversely affect national security; (b) the application does not contain all the information specified in paragraph (3); (c) the applicant or, where relevant, their employer, has previously not complied with any condition imposed by the registrar under paragraph (8); (d) the registrar must omit the relevant protected trusts information from material on the register that is available for inspection by virtue of regulations under section 25 (power to protect other information) of the ECTEA; (e) the trust is a pension scheme as defined in regulation 2 (interpretation) of the Register of Overseas Entities (Verification and Exceptions) (Amendment) Regulations 2023. (6) The registrar may refer a question to a person other than the registrar for the purposes of determining the application. (7) If an application is unsuccessful, the registrar must notify the applicant giving reasons for the decision. (8) The registrar may, by sending a notice in writing to the applicant, impose conditions subject to which the relevant protected trusts information is disclosed (including conditions restricting its use or further disclosure). (9) A person who does not comply with a condition imposed under paragraph (8) commits an offence. (10) A person guilty of an offence under paragraph (9) is liable— (a) on summary conviction in England and Wales, to a fine; (b) on summary conviction in Scotland, to a fine not exceeding level 5 on the standard scale; and (c) on summary conviction in Northern Ireland, to a fine not exceeding level 5 on the standard scale.