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In response to the FATF findings, the Masters Office was required to establish a beneficial ownership register. The Department of Justice and Constitional Development published regualtions in terms of the Trust Property Control Act of 1988 as amended by the General Laws (Anti-Money Laundering and Combating of Terrorism Financing) Amendment Act of 2022. The regulations focus on establishment and maintenance of a public register of persons disqualified from serving as trustees; recording of details of accountable institutions by trustee; beneficial ownership information to be recorded by trustee; the Master’s register on the beneficial ownership of trusts; and access to information contained in a beneficial ownership register.

Document Organisation Topics address Date Issued
Master of the High Court: 29 October 2024 Trust Beneficial Ownership system webinar slidesThe Masters OfficeMasters Office webinar slides that seek to provide guidance on Trust Beneficial Ownership system.
Chief Master Directive 8Department of Justice and Constitutional Development
  • Chief Master Directive 8 provides direction on Beneficial Ownership Information submission.
2023
Masters trust Beneficial Ownership Trust Register FAQDepartment of Justice and Constitutional Development
  • Master trust Beneficial Ownership Trust Register FAQ address some questions relating to filling of BO information.
2023
Interim Trust Beneficial Ownership RegisterDepartment of Justice and Constitutional Development
  • Trust beneficial ownership register
5 April 2023
Trust Property Control Act, 1988 Amendment of Regulations (Regulations Relating to Beneficial Ownership Registers and Records of Details of Accountable Institutions) Department of Justice and Constitutional Development
  • Establishment and maintenance of Beneficial Ownership Registers
  • Recording of Details of Accountable Institutions
  • Beneficial ownership information to be recorded by trustee
 31 March 2023
Commencement of certain provisions of General Laws (Anti-Money Laundering and Combating Terroristm Financing) Amendment Act, 2022 Department of Justice and Constitutional Development
  • Effective date of subsection 1H of section 6, section 11 A(1)(c ), (2) and (3) and section 7 of Amendment Act
 31 March 2023