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# Beneficial Owner

||| A "beneficial owner" is an individual who ultimately owns or controls a company, either directly or indirectly.

On 29 December 2022, the Government Gazette published the [General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022](/en/article/general-laws-anti-money-laundering-and-combating-terrorism-financing-amendment-act-22-of-2022-4amnaz/) which included amendments to the [Companies Act 71 of 2008](/en/article/companies-act-71-of-2008-18g6lrr/).

These amendments include the definition of a beneficial owner which is an individual who ultimately owns or controls a company, either directly or indirectly. This can involve owning shares, controlling voting rights, appointing or removing board members, or exercising control over a holding company. Additionally, a beneficial owner may control other connected entities or persons, or materially influence the company's management through other means.