There has been much publicity surrounding the government's Levelling-Up and Regeneration Act 2023 (the Act) which the government hopes will help reverse geographical disparities between different parts of the UK. One of the less publicised elements of the Act is Part 11. This sets out a framework for creating powers to require disclosure, in certain circumstances, of information relating to interests and dealings in land.

What do the provisions of Part 11 of the Act do and are they in force?

Part 11 creates a power to make regulations for the provision of information relating to interests and dealings with land where this is within the scope of one or more of the permitted purposes.

While Part 11 came into force on the date the Act received Royal Assent (26 October 2023), secondary legislation is awaited setting out the details of the obligation to provide information.

What are the permitted purposes and what information needs to be disclosed?

The table below summarises the three permitted purposes and, in relation to each, the information within scope and geographical application.

What is "transactional information"?

Transactional information is information relating to instruments, contracts or other arrangements:

• creating, altering, extinguishing, evidencing or transferring relevant interests in land; or
• conferring, amending, assigning, terminating or otherwise modifying relevant rights concerning land.

The required information may include:

• details of the parties to a transaction;
• details of the persons on whose behalf or for whose benefit the parties to the transaction are or were acting;
• details of the terms of the transaction;
• details of persons providing professional services in relation to a transaction;
• details of the source of any money paid or other consideration given in connection with a transaction; or
• copies of documents giving effect to or evidencing the transaction.

Who is required to provide the information?

This is to be specified in secondary legislation.

To whom must the required information be provided?

This is to be specified in regulations but must be either the Chief Land Registrar or another person exercising public functions on behalf of the Crown.

Will the provisions have retrospective effect?

Section 219(8) makes it clear that regulations made thereunder may relate to things done or arising before it came into force on 26 October 2023.

Will the relevant information be made public?

This is to be set out in regulations which are to provide for the:

• retention of the information provided;
• sharing of such information with persons exercising functions of a public nature for use for the purposes of such functions; and
• publication of such information.

It is unclear at this stage how disclosure of relevant information (including transactional information) will be balanced against issues such as confidentiality, particularly with regard to potentially sensitive contractual terms.

How will such measures be enforced?

Section 225 sets out how the requirements to provide relevant information may be enforced. Both:

• failure to comply with an information requirement; and
• providing false or misleading information,

will amount to a criminal offence.

Regulations pursuant to section 226 may also make provision preventing registration at the Land Registry of relevant interests and rights in land in relation to which a relevant disclosure requirement has not been complied with.

Comment

This is another significant layer of disclosure around land ownership and control in England and Wales, supplementing the information currently held (or to be held) in the following public registries:

• the register of land ownership maintained by the Land Registry;
• the persons with significant control register (PSC) at Companies House which is applicable to UK companies; and
• the Register of Overseas Entities maintained by Companies House recording details of the beneficial ownership of overseas entities that own land in the UK.

The ultimate goal is to ensure transparency around land ownership and control in England and Wales. Those dealing with, or controlling, land in England and Wales will therefore want to take note of these provisions, especially given the potential for retrospective application.