Part 1: Registration of Overseas Entities Exemptions Section 17: Power to modify application process etc in certain cases
Section 17 provides that regulations may be made by the Secretary of State that modify the application (sections 4 and 9) or update requirements (section 7) in relation to a description of overseas entity specified in the regulations. Such modifications may only be made if the Secretary of State considers that they are appropriate, taking into consideration information that is already publicly available otherwise than under the provisions of Part 1 and the Schedules to the Act.
	An example of where this power might be exercised is in relation to overseas entities that are already providing beneficial ownership information to registers in their own country of formation and the UK Government considers those registers to be equivalent to the overseas entities register. In such circumstances, the regulations may require that the overseas entity only provide details of that register, rather than be required to disclose beneficial ownership information again. Any such regulations made will be subject to the negative resolution procedure.