The Isle of Man Cabinet Office have issued the Beneficial Ownership (Amendment) Act 2020 for public consultation.
The consultation document states that the Bill proposes various amendments to the Beneficial Ownership Act 2017, with the main purpose being to improve the accuracy of the data held on the beneficial ownership register and also to permit the extraction of anonymised data by relevant authorities in order to assist with international reporting obligations.
The Bill was issued for consultation on 9 September 2020. Responses are requested to be submitted by 21 October 2020.
Full details of the consultation can be found on the consultation hub of the Isle of Man Government.
