Access to the register is via an electronic portal which requires pre-registration and the payment of a fee of £2.50 per search. The portal can be accessed here. It is worth noting that members of the public are limited to the following information, the name, the month and year of birth, the nationality, the country of residence and the nature and extent of beneficial interest of the UBO.
3. Duty to report inconsistencies
Obliged entities (relevant financial businesses) are now required to obtain a copy of the extract from the Register of Beneficial Owners, whenever Customer Due Diligence is to be applied to an entity which is itself required to register the UBO. In addition, obliged entities must now report to the Registrar within 30 days when it is apparent that the information contained within the register is inconsistent with the information in its possession. Therefore it is extremely prudent for entities and UBOs to ensure the information contained on the Register of Ultimate Beneficial Owner is adequate, accurate and current as outlined at point 1 above.
Should you wish to discuss these Regulations in any more detail please contact us through your normal point of contact if you are Fiduciary client and if not via email@example.com, where our expert teams would be delighted to help.