| Summary: | This article considers ‘ownership beneath’ in light of the Economic Crime
(Transparency and Enforcement) Act 2022, which has introduced a new Schedule 4A into the
Land Registration Act 2002. The legislation, with notable exceptions, requires overseas
entities to publicly reveal their beneficial owners, with criminal and land law consequences if
transparency requirements are not met. The article explores how ownership beneath operates
and can be made more transparent, noting the three different forms of beneficial ownership
employed—as control, behind a trust and as a consequence—and the consequences this has
for land law. The analysis recommends amending ECTEA 2022 to facilitate greater
transparency by expanding the definition of registrable beneficial owners, closing the
loophole where information is not available and requiring public disclosure of most trust
information.
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