On 28 April 2020, the Malta Business Registry issued a reminder notice to Subject Persons in relation to the Register of Beneficial Owners. By virtue of Legal Notice 158 of 2019 the Companies Act (Register of Beneficial Owners) Regulations (“the Regulations”) were amended on 12th July 2019. The amendments to the Regulations transpose certain provisions of the Fifth EU Anti-Money Laundering Directive. The Malta Business Registry reminds Subject Persons that following the coming into force of the Regulations, subject persons in terms of the Prevention of Money Laundering and Funding of Terrorism Regulations providing services in or from Malta, have an added obligation under sub-Regulation 12(2) (Measures to ensure adequate, accurate and current information) of the Regulations. Sub-Regulation 12(2) of the Regulations obliges subject persons to report to the Registrar of Companies any discrepancies they find between the information available to them and the beneficial ownership information held in the register of beneficial owners kept by the Registrar of Companies.
The full text of the notice can be viewed here: