CIPC Notice 5 of 2024: Enforcement of beneficial ownership filings and securities registers
Published: 7 February 2024
The Beneficial Ownership Enforcement Notice for 2024, emphasises the importance of companies complying with regulations regarding beneficial ownership.
It stresses the accurate reporting and disclosure of beneficial ownership information to combat financial crimes like money laundering and corruption. Non-compliance may lead to severe penalties or legal action.
Additionally, starting from 1 July 2024, CIPC will implement a hard-stop functionality preventing entities from filing their annual returns if they haven't complied with beneficial ownership filing requirements. Further enforcement actions will be taken against non-compliant entities. All entities are required to file their beneficial ownership information by 24 May 2024, as mandated by the amended Companies Regulations.
CIPC Notice 5
The Beneficial Ownership Enforcement Notice for 2024, emphasises the importance of companies complying with regulations regarding beneficial ownership.
It stresses the accurate reporting and disclosure of beneficial ownership information to combat financial crimes like money laundering and corruption. Non-compliance may lead to severe penalties or legal action.
Additionally, starting from 1 July 2024, CIPC will implement a hard-stop functionality preventing entities from filing their annual returns if they haven't complied with beneficial ownership filing requirements. Further enforcement actions will be taken against non-compliant entities. All entities are required to file their beneficial ownership information by 24 May 2024, as mandated by the amended Companies Regulations.
CIPC Notice 5
Updated on: 12/06/2024
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