Launch of the Central Bank's Register of Beneficial OwnershipMay 2020
The Central Bank of Ireland has issued correspondence advising that following a decision by the Minister of Finance, the Central Bank will be the state authority delegated with responsibility for establishing and maintaining a central register of beneficial owners in respect of Credit Unions and certain funds (the Register).
These include funds registered under the Irish Collective Asset-management Vehicles Act 2015 (ICAVs) and Unit Trust Schemes registered under the Unit Trust Act, 1990 (Unit Trusts).
It has further been indicated that Common Contractual Funds registered under the Investment Funds, Companies and Limited Partnerships Act, 2005 and Investment Limited Partnerships registered under the Investment Limited Partnerships Act, 1994 will also be included on this register in due course.
By Judy de Castro - Regulatory Consultant