LegalizeEconomic Crime and Corporate Transparency Act 2023
[^key-052159e23dd01ac37f9cf27b603b02b3]: S. 179 in force at 31.3.2026 for S. in force in so far as not already in force by S.S.I. 2025/304, reg. 2
[^key-298fc67aed21e58013c9861bdab533bd]: Sch. 8 para. 19 in force at 31.3.2026 in so far as not already in force by S.S.I. 2025/304, reg. 2
[^M_F_32e291c7-c2d0-4c4b-fe22-fbe22b8241d1]: Words in s. 189(11) substituted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(3)(4)
[^M_F_f4c0d387-99fb-47db-cf6b-a7962fca8fab]: Words in s. 189(3)(b)(ii) substituted (for the financial year beginning with April 2026 and subsequent financial years) by Finance Act 2026 (c. 11), s. 113(3)(4)
The registrar’s objectives
Statement as to lawful purposes
Information about subscribers
Proposed officers: identity verification
Proposed officers: disqualification
Persons with initial significant control: disqualification
Persons with initial significant control: identity verification
Names for criminal purposes
Names suggesting connection with foreign governments etc
Names containing computer code
Prohibition on re-registering name following direction
Prohibition on using name that another company has been directed to change
Directions to change name: period for compliance
Requirements to change name: removal of old name from public inspection
Objections to company’s registered name
Misleading indication of activities
Direction to change name used for criminal purposes
Direction to change name wrongly registered
Registrar’s power to change names containing computer code
Registrar’s power to change company’s name for breach of direction
Sections 19 and 20: consequential amendments
Company names: exceptions based on national security etc
Use of name suggesting connection with foreign governments etc
Use of name giving misleading indication of activities
Use of name that a company has been required to change
Use of name that another company has been required to change
Use of names: exceptions based on national security etc
Registered office: appropriate address
Registered email addresses etc
Registered email addresses: transitional provision
Disqualification for persistent breaches of companies legislation: GB
Disqualification for persistent breaches of companies legislation: NI
Disqualification on summary conviction: GB
Disqualification on summary conviction: NI
Power to impose director disqualification sanctions
Disqualification of persons designated under sanctions legislation: GB
Section 36: application to other bodies
Disqualification of persons designated under sanctions legislation: NI
Section 38: application to other bodies
Disqualified directors
Section 40: amendments to clarify existing corresponding provisions
Repeal of power to require additional statements
Prohibition on director acting unless ID verified
Prohibition on acting unless directorship notified
Registrar’s power to change a director’s service address
Register of members: information to be included and powers to obtain it
Additional ground for rectifying the register of members
Register of members: protecting information
Register of members: removal of option to use central register
Membership information: one-off statement
Abolition of local registers etc
Protection of date of birth information
Filing obligations of micro-entities
Filing obligations of small companies other than micro-entities
Sections 53 and 54: consequential amendments
Use or disclosure of profit and loss accounts for certain companies
Statements about exemption from audit requirements
Removal of option to abridge Companies Act accounts
Confirmation statements
Duty to confirm lawful purposes
Duty to notify a change in company’s principal business activities
Duty to deliver information about exemption from Part 21A
Confirmation statements: offences
Identity verification of persons with significant control
Procedure etc for verifying identity
Authorisation of corporate service providers
Exemption from identity verification: national security grounds
Allocation of unique identifiers
Identity verification: material unavailable for public inspection
Registrar’s power to strike off company registered on false basis
Requirements for administrative restoration
Delivery of documents: identity verification etc
Disqualification from delivering documents
Proper delivery: requirements about who may deliver documents
Delivery of documents by electronic means
Delivery of order confirming reduction of share capital
Delivery of statutory declaration of solvency
Registrar’s rules requiring documents to be delivered together
Power to reject documents for inconsistencies
Informal correction of document
Preservation of original documents
Records relating to dissolved companies etc
Power to require additional information
Registrar’s notice to resolve inconsistencies
Administrative removal of material from the register
Rectification of the register under court order
Power to require businesses to report discrepancies
Inspection of the register: general
Copies of material on the register
Material not available for public inspection
Protecting information on the register
Analysis of information for the purposes of crime prevention or detection
Fees: costs that may be taken into account
Disclosure of information
Use or disclosure of directors’ address information by companies
Use or disclosure of PSC information by companies
Use of directors’ address information by registrar
Change of addresses of officers of overseas companies by registrar
Overseas companies: availability of material for public inspection etc
Registered addresses of an overseas company
Overseas companies: identity verification of directors
General false statement offences
False statement offences: national security etc defence
Financial penalties
Registered office: rectification of register
Rectification of register: service addresses
Rectification of register: principal office addresses
Meaning of “limited partnership”
Required information about partners
Required information about partners: transitional provision
Details about general nature of partnership business
A limited partnership’s registered office
A limited partnership’s registered office: transitional provision
A limited partnership’s registered office: consequential amendments
A limited partnership’s registered email address
A limited partnership’s registered email address: transitional provision
Restrictions on general partners
Officers of general partners
Officers of general partners: transitional provision
Removal of option to authenticate application by signature
Notification of information about partners
New partners: transitional provision about required information
New general partners: transitional provision about officers
Notification of other changes
Confirmation statements
Confirmation statements: Scottish partnerships
Power for HMRC to obtain accounts
Dissolution and winding up: modifications of general law
Dissolution by the court when a partner has a mental disorder
Winding up limited partnerships on grounds of public interest
Winding up dissolved limited partnerships
Power to make provision about winding up
Winding up of limited partnerships: concurrent proceedings
Sequestration of limited partnerships: concurrent winding up proceedings
The register of limited partnerships
Material not available for public inspection
Records relating to dissolved or deregistered limited partnerships
Disclosure of information about partners
Duty to notify registrar of dissolution
Registrar’s power to confirm dissolution of limited partnership
Registrar’s power to confirm dissolution: transitional provision
Voluntary deregistration of limited partnership
Removal of limited partnership from index of names
Delivery of documents relating to limited partnerships
General false statement offences
National security exemption from identity verification
Service on a limited partnership
Application of company law
Application of Partnership Act 1890 (meaning of firm)
Limited partnerships: regulations
Limited partnerships: further amendments
Registration of qualifying Scottish partnerships
Power to amend disqualification legislation in relation to relevant entities: GB
Power to amend disqualification legislation in relation to relevant entities: NI
Register of overseas entities
Required information about overseas entities: address information
Registration of information about land
Registration of information about trusts
Registration of information about managing officers: age limits
Registrable beneficial owners: cases involving trusts
Registrable beneficial owners: nominees
Information about changes in beneficiaries under trusts
Applications for removal
Verification of registrable beneficial owners and managing officers
Material unavailable for public inspection: verification information
Material unavailable for public inspection
Protection of information
Resolving inconsistencies in the register
Administrative removal of material from register
False statement offences in connection with information notices
General false statement offences
Enforcement of requirement to register: updated language about penalties etc
Overseas entities: further information for transitional cases
Financial penalties: interaction with offences
Meaning of “service address”
Meaning of “registered overseas entity” in land registration legislation
Power to apply Part 1 amendments to register of overseas entities
Cryptoassets: confiscation orders
Cryptoassets: civil recovery
Cryptoassets: terrorism
Money laundering: exiting and paying away exemptions
Money laundering: exemptions for mixed-property transactions
Money laundering: offences of failing to disclose
Money laundering: information orders
Terrorist financing: information orders
Enhanced due diligence: designation of high-risk countries
Direct disclosures of information: restrictions on civil liability
Indirect disclosure of information: restrictions on civil liability
Meaning of “privileged disclosure”
Meaning of “relevant actions”
Meaning of “business relationship”
Other defined terms in sections 188 to 191
Strategic litigation against public participation: requirement to make rules of court
Meaning of “SLAPP” claim
Attributing criminal liability for economic crimes to certain bodies
Power to amend list of economic crimes
Offences under section 196 committed by partnerships
Failure to prevent fraud
Fraud offences: supplementary
Section 199: large organisations
Large organisations: parent undertakings
Offences under section 199 committed by partnerships
Guidance about preventing fraud offences
Failure to prevent fraud: minor definitions
Failure to prevent fraud: miscellaneous
Law Society: powers to fine in cases relating to economic crime
Scottish Solicitors’ Discipline Tribunal: powers to fine in cases relating to economic crime
Regulators of legal services: objective relating to economic crime
Approved regulators: information powers relating to economic crime
Serious Fraud Office: pre-investigation powers
Reports on payments to governments regulations: false statement offences etc
Sanctions enforcement: monetary penalties
Report on costs orders for proceedings for civil recovery
Power to make consequential provision
Regulations
Extent
Commencement
Transitional provision
Short title
Economic Crime (Transparency and Enforcement) Act 2022
After section 38 of the Limited Partnerships Act 1907 (inserted by section 151 of this Act) insert the following as a Schedule to that Act—
Seizure of property
Statutory offences
Companies Act 2006
After section 38 of the Limited Partnerships Act 1907 (inserted by section 151 of this Act) insert the following as a Schedule to that Act—
Introductory
Common law offences
Statement as to lawful purposes
Companies Act 2006
After section 38 of the Limited Partnerships Act 1907 (inserted by section 151 of this Act) insert the following as a Schedule to that Act—
After section 38 of the Limited Partnerships Act 1907 (inserted by section 151 of this Act) insert the following as a Schedule to that Act—
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