27A. (1) A general partner of an investment limited partnership shall take all reasonable steps to obtain and hold adequate, accurate and current information in respect of the investment limited partnership’s beneficial owners, that is to say—

(a) the name, date of birth, nationality, and residential address of each beneficial owner of it,

(b) a statement of the nature and extent of the interest held, or the nature and extent of control exercised, by each such beneficial owner, and

(c) the PPS number of each such beneficial owner to whom such a number has been issued,

and any PPS number so obtained shall not be disclosed by the investment limited partnership for any purpose of this section or of any of section 27B, 27C, 28, 28A, 28B, 28C or 46.

(2) The general partner shall enter the information referred to in subsection (1)(a) and (b) in the investment limited partnership’s beneficial ownership register, and the following information shall also be entered by the general partner in that register:

(a) the date on which the name of each individual was entered into the register as a beneficial owner of the investment limited partnership;

(b) the date on which each individual who has ceased to be a beneficial owner of the investment limited partnership ceased to be such an owner.

(3) If, either—

(a) after exhausting all possible means, and provided there are no grounds for suspicion by the general partner, no individual is identified as a beneficial owner of the investment limited partnership, or

(b) there is any doubt that any individual so identified is a beneficial owner of the investment limited partnership,

there shall be entered, in the investment limited partnership’s beneficial ownership register as its beneficial owners (stating the nature and extent of the control exercised by them), the names of the one or more individuals who hold the position of general partner or partners of the investment limited partnership or, in the case of a general partner that is a body corporate, the one or more individuals who are the senior managing officials of the general partner (including, in any of the foregoing cases, their date of birth, nationality and residential addresses) and—

(i) the requirement of subsection (1) with regard to not disclosing a PPS number shall apply in the case of this subsection as that requirement applies in the case of subsection (1),

(ii) subsection (2) shall apply in the case of this subsection as it applies in the case of subsection (1), and

(iii) references in any subsequent section of this Act to the particulars referred to in subsection (1)(a) and (b) of this section shall be deemed to include, where the context admits, references to the particulars referred to in this subsection.

(4) In a case falling within subsection (3)(a) or (b), the general partner shall keep records of the actions taken in order to identify the beneficial ownership of the investment limited partnership.

(5) A general partner of an investment limited partnership shall provide any member of the Garda Síochána, the Revenue Commissioners, a competent authority or the Criminal Assets Bureau with timely access, on request, to the investment limited partnership’s beneficial ownership register.

(6) Each of the following:

(a) the Garda Síochána;

(b) the Revenue Commissioners;

(c) a competent authority;

(d) the Criminal Assets Bureau,

may disclose the information in a beneficial ownership register to any corresponding competent authority of another Member State (a "corresponding authority"); in the event of there being a request made of a body or other person referred to in any of paragraphs (a) to (d) by a corresponding authority for disclosure of such information, the request shall be complied with in a timely manner.

(7) Where a general partner of an investment limited partnership enters into an occasional transaction with a designated person or forms a business relationship with a designated person, the general partner shall—

(a) inform the designated person in writing that it is acting as a general partner of an investment limited partnership,

(b) provide information on the investment limited partnership’s beneficial ownership to the designated person when the designated person is taking customer due diligence measures in accordance with Part 4 of the Act of 2010,

(c) on request from the designated person, provide the designated person without delay with information identifying all the beneficial owners of the investment limited partnership, and

(d) notify the designated person of any change to the investment limited partnership’s beneficial ownership register that occurs which is relevant to the occasional transaction or that occurs during the course of the business relationship formed, and the date on which it occurred within 14 days from the date on which the general partner or, if more than one, any one of the general partners of the investment limited partnership, became aware of the change.

(8) For the purposes of subsection (7) "occasional transaction" means a transaction in relation to which the designated person is required to apply customer due diligence measures under Part 4 of the Act of 2010.

(9) A general partner that fails to comply with subsection (1), (2), (3), (4), (5) or (7) shall be guilty of an offence.]