Bribery, fraud and anti-money laundering | UK Regulatory Outlook October 2022

Economic Crime (Transparency and Enforcement) Act 2022 Commencement Regulations

On 14 October 2022, the Economic Crime (Transparency and Enforcement) Act 2022 (Commencement No. 4) Regulations 2022 were published. These regulations bring into force on 12 October 2022 the provisions of Part 1 of the Economic Crime (Transparency and Enforcement) Act 2022 (ECTEA 2022) that are not already in force. These regulations also bring sections 7 and 8 of the ECTEA 2022 into force on 16 January 2023.

Part 1 ECTEA 2022 has established the new register of overseas entities held by Companies House and the majority of its provisions commenced with effect from 1 August 2022.

This fourth set of commencement regulations brought into force on 12 October 2022 most of the remaining provisions of Part 1 and the Schedules to ECTEA 2022, including sections 9 to 11 which set out the procedure for removing an overseas entity from the register. Sections 7 and 8, which impose a duty on a registered overseas entity to update its registered information annually, will come into force on 16 January 2023.

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