Ready or Not – deadline to file beneficial ownership details on 22 November 2019

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Ready or Not – deadline to file beneficial ownership details on 22 November 2019

Published 13 November 2019

The deadline is fast approaching for entities to file the required beneficial ownership details with the Central Register of Beneficial Ownership of Companies and Industrial and Provident Societies (the “Central Register”). Relevant entities have until 22 November 2019 to file their beneficial ownership details with the Central Register without being in breach of their statutory duty to file.

The Central Register is the central database of information required to be held by companies and industrial and provident societies in their own internal registries in respect of the natural persons who are their beneficial owners/controllers, including details of the beneficial interests held by them.

An entity that fails to comply with the requirement to file its beneficial ownership details with the Central Register shall be deemed to have committed an offence and shall be liable, on summary conviction to a class A fine, which is a fine not exceeding €5,000, or on conviction on indictment, to a fine not exceeding €500,000.

For more information please contact Sarah Meehan, Associate or another member of our Dublin Corporate and Commercial team.

Authors

Sarah Meehan

Sarah Meehan

Dublin

+353 (0)1 588 2557

Sharon McCaffrey

Sharon McCaffrey

Dublin

+ 353 1 588 2554

John Darmody

John Darmody

Dublin

+353 (0)1 588 2551

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