Investment Limited Partnerships Act 1994

F73[Other particular steps that may be taken to establish identity of beneficial owners.


27C. (1) This section

(a) is without prejudice to the generality of section 27A(1), and

(b) does not derogate from the duty, where it arises, under section 27B.

(2) A general partner of an investment limited partnership may give to any person (whether an individual or not) the notice specified in subsection (3) if it has reasonable cause to believe that the person has the knowledge referred to in paragraph (a) or (b) of that subsection.

(3) The notice referred to in subsection (2) is a notice, addressed to the person referred to in that subsection, that requires the addressee

(a) to state whether or not the addressee knows the identity of

(i) any individual who is a beneficial owner of the investment limited partnership, or

(ii) any person (whether an individual or not) likely to have that knowledge,


(b) if so, to supply any particulars of any such person that are within the addressee’s knowledge, and state whether or not the particulars are being supplied with the knowledge of each of the persons concerned,

and such a notice is referred to subsequently in this section as a notice under this section.

(4) For the purposes of subsection (3)

(a) a reference to knowing the identity of a person includes a reference to knowing information from which that person can be identified, and

(b) a reference in paragraph (b) of it to particulars is a reference

(i) in the case of the individual referred to in paragraph (a)(i) of it to the particulars referred to in section 27A(1)(a) and (b), and

(ii) in the case of the person referred to in paragraph (a)(ii) of it to any particulars that will allow the person to be contacted by the general partner.

(5) A notice under this section shall state

(a) that it is given under "section 27C of the Investment Limited Partnerships Act 1994", and

(b) that the addressee is to comply with the notice by no later than the end of the period of one month beginning with the date of the notice.

(6) Nothing in this section shall be construed as requiring a person to whom a notice under it is given to disclose any information in respect of which a claim to legal professional privilege could be maintained in legal proceedings.]




Inserted (1.03.2021) by Investment Limited Partnerships (Amendment) Act 2020 (31/2020), s. 27, S.I. No. 19 of 2021.