New arrangement of the register of actual owners
12.03.2021Company: Clifford Chance Prague LLP, organizační složka
On 1 June 2021, a new law on the registration of beneficial owners, published in the Collection of Laws under number 37/2021, will enter into force. It brings a more precise definition of the term "beneficial owner", unification of the hitherto fragmented regulation and delayed implementation of the 5th AML Directive - by introducing a partial public record of beneficial owners and, above all, significant sanctions for non-compliance with legal obligations.
The Records Act regulates the keeping of records of beneficial owners, as well as the rights and obligations arising in connection with the determination of the beneficial owners and the entry of data in the records.
You can read more here. (in Czech language only)
Tags: Law |
