NEWSFLASH: Beneficial Ownership – Central Register
UPDATE JUNE 2019: The opening of the public Central Register originally planned for 22 June 2019 has been postponed temporarily. This postponement impacts onto the originally notified compliance date (i.e. 22 November 2019) as the Regulations provide for a 5 month period from the opening of the Central Register within which companies must comply with the public disclosure obligations. Updates in relation to the new timings will be provided via the CRO and RBO websites/media channels.
The Statutory Instrument (S.I. No. 110) commencing the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 (the ‘2019 Regulations’) came into operation on 22 March 2019.
These Regulations revoke the 2016 Regulations and include the much awaited requirements to disclose certain information on companies’ beneficial ownership in a public Central Register. Part 3 of the 2019 Regulations which relate to the Central Register obligations will commence on 22 June 2019, with a five month period within which existing companies must comply (i.e. 22 November 2019).
See our Briefing Paper for an overview of the key requirements of the 2019 Regulations.
This information is for general information purposes and does not constitute as legal or any other advice.