Baroness Gustafsson (Lab)

To take the second question first, that is correct. The beneficial owner will not automatically receive notice that they have had this request around their information, or that their information has been disclosed, although that information would be available through a freedom of information request. The information is there, but there is no automatic process whereby they would be informed were someone to make that request. I understand why that would be the case, and that it would be something subject to an ongoing review—but, ultimately, I understand why that decision has been taken here. With regard to the process, there is a judicial review in place for an appeals process. It is something that is going to have to be under this ongoing review about the volumes that are required and whether we are creating a backlog of requests that ultimately end up in that appeals process, which could be indicative that this is not a pragmatic balance that is sat in the middle between transparency and privacy. I still believe that this is a really strong step forward in providing the much-needed greater transparency that all noble Lords in this Room have been important and paramount in creating in the first place. We are just taking the next step in providing that transparency.