Refer: This indicates that less than 3 Primary Checks have been made on the individual at that address and further proof of identity should besought.

Public companies: Where your customer is a corporate/public body (large housebuilders, banks, LLP’s, some charities) a beneficial owner is any

individual who:

• owns or controls over 25% of the shares or voting rights

• ultimately owns or controls whether directly or indirectly including bearer shares holdings or other means, more than

• 25% share or voting rights in the business

• exercises ultimate control over the management

• controls the corporate body.