Citation, extent and interpretation

1.—(1) These Regulations may be cited as the Economic Crime (Transparency and Enforcement) Act 2022 (Commencement No. 4) Regulations 2022.

(2) These Regulations extend to England and Wales, Scotland and Northern Ireland.

(3) In these Regulations, “the Act” means the Economic Crime (Transparency and Enforcement) Act 2022.

Provisions coming into force on 12th October 2022

2.  The following provisions of the Act, so far as not already in force, come into force for all purposes on 12th October 2022—

(a)Part 1, except for sections 7 and 8; and

(b)Schedules 1 to 5.

Provisions coming into force on 16th January 2023

3.  The following provisions of the Act come into force on 16th January 2023—

(a)section 7 (updating duty);

(b)section 8 (failure to comply with updating duty).

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations bring into force on 12th October 2022 the provisions of Part 1 (aside from sections 7 and 8) of, and the Schedules to, the Economic Crime (Transparency and Enforcement) Act 2022 (c. 10) (“the Act”) that are not already in force. These regulations also bring sections 7 and 8 of the Act into force on 16th January 2023.

An impact assessment has not been published for these Regulations as they have no impact on costs for business, the public or voluntary sector independent of the provisions these Regulations bring into force. Full impact assessments have been published in relation to the Act and copies of the impact assessment relating to the Register of Overseas Entities can be obtained from https://www.legislation.gov.uk/ukpga/2022/10/pdfs/ukpgaod_20220010_en.pdf. A hard copy can be obtained by writing to the Department for Business, Energy and Industrial Strategy at 1 Victoria Street, London, SW1H 0ET, United Kingdom.

NOTE AS TO EARLIER COMMENCEMENT REGULATIONS

(This note is not part of the Regulations)

The following provisions of the Economic Crime (Transparency and Enforcement) Act 2022 (c. 10) (“the Act”) have been brought into force by commencement regulations made before the date of these Regulations: