The Isle of Man Cabinet Office has launched a public consultation on the Beneficial Ownership (Amendment) Bill 2020. The consultation closes on 21 October 2020.
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Overview
In order to address several compliance deficiencies identified in the Island’s Mutual Evaluation Report 2016, conducted by MONEYVAL, a small number of amendments are being recommended to the Beneficial Ownership Act 2017, which are intended to improve the accuracy of the beneficial ownership database and meet intern…