Is a radical shift in transparency on the beneficial owners of companies and trusts on the way?
A bill before parliament will make it a requirement that companies file their share registers and the people who have a beneficial interest in those shares to the Companies and Intellectual Property Commission (CIPC). The CIPC must then make this information available to any person “as prescribed”. A similar amendment is slated for the Trust Property Control Act to disclose beneficial owners of trusts...
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