Part 3 – Register of Overseas Entities Register of overseas entities Section 163: Information about changes in beneficiaries under trusts
This section introduces the new Schedule to which it refers (Duty to deliver information about changes in beneficiaries) (Schedule 6) and makes transitional provision. The new requirements set out in paragraph 2 of new Schedule 6 do not apply to statements or information delivered to the Registrar under section 7 (updating requirements) of the Economic Crime (Transparency and Enforcement) Act 2022 during the first 3 months after the paragraph comes fully into force. This is to ensure that registered overseas entities are given sufficient time to gather the new information that will be required to be provided.