(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These Regulations give effect to Article 30 of Directive (EU) 2015/849 of the European Parliament and of the Council, of 20 May 2015, as amended by Article 1(15) of Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018.

The Regulations require corporate or other legal entities incorporated in the State to obtain and hold adequate, accurate and current information in respect of its beneficial owners, and to state the nature and extent of the control exercised by them.

The Regulations establish a central register of beneficial ownership and require corporate or other legal entities incorporated in the State to obtain to transmit its beneficial ownership information to the central register.

The Regulations establish who shall have access the information held in the central register.

The Regulations create offences for breaches of Article 30.