SI explanatory text
These Regulations provide the registrar for England and Wales with new powers to annotate the register of overseas entities that the registrar maintains in accordance with the Economic Crime (Transparency and Enforcement) Act 2022 (c. 10, “the 2022 Act”), with a view to providing clarity to people who inspect the register. These Regulations also make provision about the removal of material from the register of overseas entities by the registrar using powers contained in section 28 of the 2022 Act, which was substituted by the Economic Crime and Corporate Transparency Act 2023 (c. 56, “the 2023 Act”) and which replaces narrower provisions permitting administrative removal and rectification of the register on application to the registrar. This mirrors reforms made by the 2023 Act to the registrar’s removal powers under the Companies Act 2006 (c. 46).