Information is within the scope of the beneficial ownership purpose if it appears to the Secretary of State that the information would be useful for the purpose of—
identifying persons who are beneficial owners of land in England or Wales, or
understanding the relationship of those persons with the land that they beneficially own.
For the purposes of this section, a person beneficially owns land if either of the following subsections applies.
This subsection applies where—
the land is owned by a body corporate or partnership, and
the person is, in relation to that body corporate or partnership, a beneficial owner within the meaning given by regulation 5 of the Money Laundering Regulations.
This subsection applies where—
the land is owned as part of—
a trust, foundation or similar legal arrangement, or
the estate of a deceased person in the course of administration, and
the person is, in relation to that trust, foundation, arrangement or estate, a beneficial owner within the meaning given by regulation 6 of the Money Laundering Regulations.
In this section—
expressions that are also used in regulation 5 or 6 of the Money Laundering Regulations have the same meaning as in that regulation;
references to ownership of land (except references to beneficial ownership) are to the legal ownership of a freehold or leasehold estate in the land;
"the Money Laundering Regulations" means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692).