Seán Fleming (Laois-Offaly, Fianna Fail)
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The proposed amendments regarding beneficial ownership, which relate to the earlier stage, will enable the public to access certain beneficial ownership information regarding investors in an investment limited partnership and will ensure that the highest international transparency standards apply to the investment limited partnership. Part 5 of the Bill amends the Social Welfare Consolidation Act 2005 to include the register of beneficial ownership of investment limited partnerships. There is an amendment in this legislation regarding social welfare which will ensure that PPS numbers can be allocated and that persons can be identified by name. This will enable the public to ascertain certain information about who the beneficial owners are, but not their detailed financial information.