Beneficial Ownership Amendments Understanding

The Companies Amendment Act 2017 established the requirement for beneficial ownership information to be recorded by companies and also filed at the COJ. It amended s. 109 to require that the register of members must now include specified details of beneficial owners. It amended s. 116 to require that where companies receive any notice of trusts that affects the membership of the company, they shall record the beneficial owner of same. It amended s. 122 to require information on beneficial owners on the annual returns form. It amended s. 363 to require that beneficial ownership information be submitted on the registration documents of overseas companies.

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