Written answers

Tuesday, 8 May 2018

Department of Jobs, Enterprise and Innovation

Money Laundering

Photo of Billy KelleherBilly Kelleher (Cork North Central, Fianna Fail)
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243. To ask the Minister for Jobs, Enterprise and Innovation the reliefs available to companies and or accountancy or other practitioners with regard to the expected new statutory deadline of 1 November 2018 expected to be introduced shortly with regard to the mandatory e-filing of details of the beneficial owners of companies and industrial and provident societies and co-op’s introduced on foot of SI No 560 of 2016 and the provisions of the 4th EU anti-money laundering directive. [20200/18]

Photo of Heather HumphreysHeather Humphreys (Cavan-Monaghan, Fine Gael)
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Since 15 November 2016, the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016 (Statutory Instrument No. 560 of 2016) has required all corporate and legal entities to hold adequate, accurate and current information on their beneficial owner(s) in their own register.

Article 30.3 of the EU Fourth Anti-Money Laundering Directive (4AMLD) specifies that Member States are to ensure that such beneficial ownership information is held in a central register. 

The Department of Finance is currently working with the OPC on drafting a Statutory Instrument for the establishment of such a central register, which is expected to be made in the coming months, by the Minister for Finance.

Technical work to launch this register as required by the 4th Anti-Money Laundering Directive is at an advanced stage.

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