Oireachtas Joint and Select Committees

Wednesday, 2 December 2020

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Investment Limited Partnerships (Amendment) Bill 2020 [Seanad]: Committee Stage

Photo of Mairéad FarrellMairéad Farrell (Galway West, Sinn Fein) | Oireachtas source

I welcome the Aire Stáit. My colleague Deputy Doherty mentioned issues concerning beneficial ownership to former Minister of State Michael D'Arcy. I welcome the fact that there have been amendments since then. I have a question on the submission of the annual return. Could the Minister of State clarify whether that information will be publicly available?

On beneficial ownership, where someone has a 25% shareholding but decides to split it in two, using a shell company and another mechanism, would we know the identity of the ultimate beneficial owner rather than the intermediaries posing as beneficial owners? Would that information also be publicly available?

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