Beneficial Ownership Transparency (Amendment) Regulations, 2025 (SL 16 of 2025)

4.

Regulation 1

SL 16 of 2025

Beneficial Ownership Transparency Act, 2023 (Act 13 of 2023) BENEFICIAL OWNERSHIP TRANSPARENCY (AMENDMENT) REGULATIONS, 2025 (SL 16 of 2025) In exercise of the powers conferred by section 30 of the Beneficial Ownership Transparency Act, 2023, the Cabinet makes the following Regulations —

(Amendment) Regulations, 2025.

Regulations, 2024 - duty of a legal person to provide additional matters to corporate services provider

referred to as the “principal Regulations”, are amended in regulation 3 by repealing paragraph (2) and substituting the following paragraph — “(2) Where a registrable beneficial owner, the senior managing official or a trustee identified in accordance with section 4(3) of the Act is deceased and for that reason has ceased to function in the respective role, the legal person shall provide the date of death in writing to its corporate services provider.”.

Regulation 3 Beneficial Ownership Transparency (Amendment) Regulations, 2025

SL 16 of 2025

registrable beneficial owner's particulars are not confirmed

(a) in paragraph (1) as follows — (i) in subparagraph (a), by inserting after the words “registrable beneficial owner” the words “, the senior managing official or a trustee identified in accordance with section 4(3) of the Act”; and (ii) in subparagraph (b), by inserting after the words “registrable beneficial owners” the words “, the senior managing official or the trustees identified in accordance with section 4(3) of the Act”; and (b) in paragraph (2)(b), by deleting the words “of that beneficial owner”.

(b) and substituting the following paragraph — “(b) A holds, directly, interests or voting rights in B; or”.

officials and trustees

the following regulation — “Required particulars of certain persons

accordance with section 4(4) of the Act shall be entered in the beneficial ownership register in accordance with section 12(5) of the Act.

(2) The required particulars of the trustee identified in accordance with section 4(3) of the Act, unless the trustee meets the definition of a reportable legal entity, are — (a) the required particulars of an individual as set out in section 12(5) of the Act; or (b) where the trustee is a corporate trustee, the required particulars set out in section 12(6) of the Act, the name of the individual to be contacted, the individual’s email address and telephone number.

(3) The required particulars of persons considered as individuals under section 2(2) of the Act are — (a) the required particulars set out in section 12(6) of the Act; and

Beneficial Ownership Transparency (Amendment) Regulations, 2025 Regulation 6

SL 16 of 2025

(b) the name of the individual to be contacted, the individual’s email address and telephone number.”.

following item —

“Item number Relevant provision Description of breach

Failure of the legal person to provide requested beneficial ownership information”.

Made in Cabinet the 25th day of February, 2025.

Kim Bullings Clerk of the Cabinet