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European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 [S.I. No. 110 of 2019]Introductory TextPart 1 Preliminary and General (regs. 1-3)Regulation 1 Citation and commencementRegulation 2 InterpretationRegulation 3 References to server of notice: construction of those references.Part 2 Obligation for Relevant Entities to Compile a Beneficial Ownership Register (regs. 4-15)Regulation 4 Application of these RegulationsRegulation 5 Relevant entities to obtain and hold beneficial ownership informationRegulation 6 Natural persons reasonably believed to be beneficial owners: duty to give particular notice to them -Regulation 7 Notice to natural person believed to be a beneficial ownerRegulation 8 Other particular steps that may be taken to establish identity of beneficial ownersRegulation 9 Notice to person believed to have information, etc. concerning beneficial ownershipRegulation 10 Duty to keep information in register up-to-dateRegulation 11 Notice to natural person to confirm occurrence of change, etc.Regulation 12 Duty of beneficial owner (in certain circumstances) to notify his or her status as suchRegulation 13 Duty of natural person (in certain circumstances) to notify relevant changeRegulation 14 Offence for failure to comply with notice under Regulation 7, 9 or 11Regulation 15 Duty to keep and maintain a beneficial ownership registerPart 3 Obligation of Relevant Entities to File Beneficial Ownership Information in Central Register (regs. 16-31)Regulation 16 Discharge of initial central filing obligation - construction of that expressionRegulation 17 Delivery of information under this Part: delivery may be effected by persons external to relevant entity (as well as by officers or employees of it)Regulation 18 Registrar of Beneficial Ownership of Companies and Industrial and Provident SocietiesRegulation 19 Establishment and maintenance of central registerRegulation 20 Obligation of relevant entity to deliver beneficial ownership information to Registrar and related obligations of designated person where certain discrepancies discoveredRegulation 21 Information which shall be delivered to RegistrarRegulation 22 Information to be provided by presenterRegulation 23 Duty to keep information in beneficial ownership register and central register aligned and up to dateRegulation 24 Unrestricted access to beneficial ownership information in central registerRegulation 25 Restricted access to beneficial ownership information in central registerRegulation 26 Obligations of competent authorities to report certain discrepancies to RegistrarRegulation 27 Fees may be charged for access to central register under Regulation 25Regulation 28 Offence for failure to comply with Regulation 20, 21, 22 or 23 and supplemental provisionsRegulation 29 Prosecution of offencesRegulation 30 Certificate by Registrar admissible as evidence of facts statedRegulation 31 Interconnection of central registers via the European Central PlatformPart 4 Revocation (reg. 32)Regulation 32 RevocationGiven underExplanatory Memorandum
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 22 June 2019 - onwards
Version 2 of 2

Regulation 28 Offence for failure to comply with Regulation 20, 21, 22 or 23 and supplemental provisions

(1) A relevant entity that fails to comply with Regulation 20, 21 or 23 commits an offence and shall be liable -

(a) on summary conviction, to a class A fine, or

(b) on conviction on indictment, to a fine not exceeding €500,000.

(2) A relevant entity that fails, without reasonable excuse, to comply with a request, as referred to in clause (ii) of paragraph (4)(b) of Regulation 20, or clause (ii) of paragraph (2)(b) of Regulation 26, contained in a notice served on it under that paragraph (4)(b) or (2)(b), as the case may be, commits an offence and shall be liable -

(a) on summary conviction, to a class A fine, or

(b) on conviction on indictment, to a fine not exceeding €500,000.

(3) If the contravention in respect of which a relevant entity is convicted of an offence under these Regulations is continued after the conviction, the relevant entity shall be guilty of a further offence on every day on which the contravention continues and for each such offence it shall be liable, on summary conviction, to a class A fine.

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