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  • Article (7)

    • Notices of Beneficial Owner

      1. If the Legal Person believes that a person could be a Beneficial Owner whose ultimate beneficial ownership data are not correctly recorded in the Register of Beneficial Owner, the Legal Person shall inquire as to the person's status as a Beneficial Owner. If (15) fifteen days have lapsed without any response to such inquiry being received, the Legal Person shall give such person a notice thereof.
         
      2. The notice referred to in Clause (1) of this Article shall:
        1. State that it is given by virtue of this Decision.
        2. Set-out the Beneficial Owner's relevant data that the Legal Person reasonably knows or believes to be correct, with a request to provide the data that are missed and required to complete data of the Beneficial Owner's Register.
        3. Request the addressee the following:
          1. State whether or not he is the Beneficial Owner of the Legal Person;
          2. Confirm or correct any data set-out in the notice;
          3. Supply any data that are missing.

         
      3. If the addressee fails to comply with the notice within (15) fifteen days of dispatching the notice, the Legal Person shall enter the notified data in the Register of Beneficial Owner.
         
      4. For the purpose of identifying the Beneficial Owner, the Legal Person may rely on the written response of the person to whom a notice was given, unless the Legal Person has reasonable reasons to suspect that the response is misleading or false, where he shall register the beneficial ownership data of such person as a Beneficial Owner and notify him of the same.