CIPC wants criminal sanction for non-disclosure of beneficial ownership
Beneficial ownership refers to the ultimate owner, who owns and controls a company or trust either directly or indirectly
15 May 2023 - 15:12
The Companies and Intellectual Property Commission (CIPC) is urging the department of trade, industry and competition to introduce a criminal sanction for the non-disclosure or the incorrect disclosure of the beneficial ownership of companies and trusts.
CIPC commissioner Rory Voller would like this provision to be included in the Company Amendment Bill, expected to be tabled in parliament later in 2023...
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