Section 16Part 3 — Beneficial Ownership Register
Retention on the register
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Where a registrable beneficial owner, a senior managing official or a trustee identified in accordance with section 4(3) is no longer a registrable beneficial owner, senior managing official or trustee identified in accordance with section 4(3) of the legal per son, the corporate services provider engaged by the legal person shall —
remove the related entry from the legal person’s beneficial ownership register ; and
retain the related record for five years from the date on which the registrable beneficial owner, senior managing official or trustee identified in accordance with section 4(3) ceased to function in the respective role in relation to the legal person.