Part 3 – Register of Overseas Entities Register of overseas entities Section 159: Registration of information about trusts
This section extends the information that must be provided in connection with the registration of overseas entities where a person is a beneficial owner by virtue of being a trustee. It amends paragraph 8 of Schedule 1 to the Economic Crime (Transparency and Enforcement) Act 2022, which sets out the information required to be provided about trusts. The purpose of the new section is to require more information about the persons associated with a trust who may previously not have been required to be identified to Companies House.
	The change has been made to capture changes in the persons associated with the trust before the overseas entity registered with Companies House, which will provide a fuller record about the trust, as well as changes that might have been made to the trust before the registration of the overseas entity, in an attempt to avoid information being disclosed to Companies House.
	The new section introduces the concept of "specified details" which must be provided about those connected with the trust, and the "specified details" to be provided mirror the previous required details about both individuals and legal entities.
	The "specified details" are set out in new sub-paragraph (1A) of paragraph 8 of Schedule 1, and must be provided in relation to each beneficiary under the trust, each settlor or grantor, and, where the settlor or grantor is a legal entity, information about the persons associated with that entity who are or would be registrable beneficial owners of the legal entity if it were an overseas entity. "Specified details" must also be provided about any interested persons under the trust, as must the date on which they became an interested person.