Civil Code (Second Schedule)

L.N. 376 of 2017

CIVIL CODE

(CAP. 16)

Civil Code (Second Schedule)

(Register of Beneficial Owners - Associations) Regulations, 2017

IN exercise of the powers conferred by article 24(k) of the

Second Schedule to the Civil Code, the Minister responsible for

justice has made the following regulations:-

(1) The title of these regulations is the Civil Code Citation, scope

(Second Schedule) (Register of Beneficial Owners - Associations) and

commencement.

Regulations, 2017.

(2) The purpose of these regulations is to implement the

relevant provisions of Directive (EU) 2015/849 of the European

Parliament and of the Council of 20 May 2015 on the prevention of

the use of the financial system for the purposes of money laundering

or terrorist financing, amending Regulation (EU) 648/2012 of the

European Parliament and of the Council, and repealing Directive

2005/60/EC of the European Parliament and of the Council and

Commission Directive 2006/70/EC relating to information about the

beneficial owners of associations established under the laws of Malta,

and they shall be interpreted and applied accordingly.

(3) These regulations shall come into force on the 1st January,

2018.

Civil Code (Second Schedule) (Register of Beneficial Owners - Associations)

Regulations

Penalties and Regulations applicable thereto

Daily

Regulation

Default

Penalty

penalty

4(7)

Failure to keep record of beneficial owners

€500

€5

5(3)

Failure to comply with regulation 5

€500

€5

6(3)

Failure to provide the Registrar for Legal Persons

with a declaration containing information on the

beneficial owners of the association

€500

€5

8(5)

Failure to provide information to the Registrar for

Legal Persons about a change in the beneficial

owners of an association

€500

€5

The following provisions shall apply to any penalty imposed by the Registrar

for Legal Persons in terms of the Civil Code (Second Schedule) (Register of

Beneficial Owners - Associations) Regulations

(1) Where the Registrar for Legal Persons gives notice in writing to any

association and, or any person that such association and, or person has

become liable to a penalty under these regulations specifying the nature

of the infringement, and indicating an amount as due by way of penalty in

respect of such infringement, the association and, or person to whom the

notice is given shall, without prejudice to the provisions of paragraphs (2)

to (15) be deemed to have incurred a penalty under these regulations, and

the amount indicated as aforesaid as due by way of penalty including any

penalty due for each day during which the default continues shall be

deemed to be the penalty due under these regulations in respect of the

infringement specified in the notice.

(2) A notice as is referred to in paragraph (1) shall, upon the service of a copy

thereof by means of a judicial act on the association and, or any person

indicated in the notice, constitute an executive title for all effects and

purposes of Title VII of Part I of Book Second of the Code of

Organization and Civil Procedure unless such person shall within thirty

days from the date of such service institute proceedings before the court

objecting to the penalty so fixed.

(3) Where any association and, or any person desires to institute proceedings

objecting to a penalty referred to in paragraph (1), such proceedings shall

be instituted by application against the Registrar for Legal Persons.

(4) The application shall, under pain of nullity, state clearly and concisely the

nature of the complaint, the facts out of which the complaint arises, the

reasons why such complaint should be upheld, and the claim that the

penalty is not due at law or is due at law only in a smaller amount.

(5) The court shall not annul or reduce a penalty as aforesaid unless such

penalty cannot at law be imposed in the circumstances of the case, or

cannot at law be fixed in the amount fixed by the Registrar for Legal

Persons.

(6) The applicant shall attach to the application all such documents in support

of his claim as it may be in his power to produce, and shall indicate in his

application the names of all witnesses he intends to produce stating, in

respect of each, the proof which he intends to make.

(7) The court shall, without delay, set down the application for hearing at an

early date, which date shall in no case be later than thirty days from the

date of the filing of the application.

(8) The application, and the notice of the date fixed for hearing, shall be

served on the Registrar for Legal Persons without delay, and the said

Registrar for Legal Persons shall file his reply thereto within fourteen

days after the date of the service of the application.

(9) The Registrar for Legal Persons shall, in his reply, state clearly and

concisely whether he agrees to the facts set out in the application, and the

reasons why he objects to the claim; he shall moreover state in his reply

the names of the witnesses in support of his reasons and shall attach

thereto all the documents in support thereof.

(10) On the day fixed for the hearing of the application, the court shall

consider only the issues of fact and of law as are ascertainable from the

application, reply or documents filed, by either of the parties, or from the

evidence indicated by either of the parties in the application or reply, as

the case may be, or from the oral pleading of either of the parties.

(11) The court shall hear the application to a conclusion within five working

days from the date fixed for the original hearing of the application, and no

adjournment shall be granted except either with the consent of both

parties, or for an exceptional reason to be recorded by the court, and such

adjourned date shall not be later than that justified by any such reason.

(12) Saving the preceding paragraphs, the provisions of the Code of

Organization and Civil Procedure relating to proceedings before the First

Hall of the Civil Court shall apply in relation to any such application.

(13) Notwithstanding the provisions of article 256(2) of the Code of

Organization and Civil Procedure, the executive title referred to in

paragraph (2) shall not be enforceable before the lapse of thirty days from

the service of the judicial act therein referred to.

(14) The decision of the court upon an application referred to in paragraph (3),

confirming the imposition of a penalty fixed by the Registrar for Legal

Persons or reducing any such penalty, shall upon becoming res judicata

be deemed to be a judgment of the court ordering the payment by the

applicant of the penalty as confirmed or reduced.

(15) An appeal from a decision of the court upon an application referred to in

paragraph (3), shall be made by means of an application to the Court of

Appeal to be filed within six working days of the date of the decision; the

association and, or person against whom the appeal is entered shall within

six working days from the service upon him of the application file a reply

to the appeal.

€1.80

(1)

In these regulations, unless the context otherwise Interpretation.

requires

"association" is an agreement between two or more persons to

establish an organisation with defined aims or purposes to be

achieved through the dedication of efforts and resources by such

persons and others who may join voluntarily, the patrimony, namely

assets and liabilities, if any, of the association being distinct from that

of its administrators or members;

"beneficial owner" shall have the meaning assigned to it under

the Prevention of Money Laundering and Funding of Terrorism S.L. 373.01

Regulations specifically as applicable to legal organisations and

"beneficial ownership" shall be construed accordingly, and for the

purposes of these regulations shall refer to (a) members and (b)

relevant persons;

"Directive" means Directive (EU) 2015/849 of the European

Parliament and of the Council of 20 May 2015 on the prevention of

the use of the financial system for the purposes of money laundering

or terrorist financing, amending Regulation (EU) 648/2012 of the

European Parliament and of the Council, and repealing Directive

2005/60/EC of the European Parliament and of the Council and

Commission Directive 2006/70/EC;

"officer" means the administrator or administrators of the

association who are named in its statute and, or where there are

changes in case of registered associations, who are named in the

relevant notice submitted to the Registrar for Legal Persons, and

where the administrator is a legal organisation, the persons entrusted

with the management and administration thereof, and this, for as long

as they continue to occupy such office;

"Register of Beneficial Owners" means the Register of

Beneficial Owners - Associations kept by the Registrar for Legal

Persons in terms of these regulations;

"register of members" means the register maintained by the

association with the names, addresses and other details of its

members;

"Registrar for Legal Persons" is the person appointed by the

Minister responsible for justice in accordance with article 11 of the

Second Schedule;

"relevant persons" means

(a)

the administrators;

(b)

the protector or members of a supervisory council, if

any; and

(c)

any other natural person exercising ultimate and

effective control over the association by means of indirect

ownership or by other means including any person (other than

those already referred to in paragraphs (a) and (b) of this

definition) whose consent is to be obtained or whose direction is

binding, in terms of the statute of the association or any other

instrument in writing, for material actions to be taken by the

administrators thereof;

and for the purposes of paragraph (c) above, the term "material

actions" means the following actions or any other actions achieving

the same result

(a)

the amendment of the statute;

(b) the appointment or removal of administrators or

protectors or members of the supervisory council;

(c)

the acceptance of new members or the removal of

members or any increase or reduction in ownership interests;

(d)

the re-domiciliation of the association;

(e)

the assignment or transfer of all or the majority of

the assets of the association; or

(f)

the termination of the association;

"Second Schedule" means the Second Schedule to the Civil Cap. 16.

Code;

"special law'' means an Act of Parliament or a part of the Civil Cap. 16.

Code which regulates a particular type of association;

"subject person" means a subject person in terms of the Cap. 373.

Prevention of Money Laundering Act and applicable regulations.

(2) Unless otherwise stated or the context otherwise requires,

terms and expressions used in these regulations shall have the

meaning attributed to them in the Second Schedule, any relevant

special law, the Prevention of Money Laundering Act and regulations Cap. 373.

made thereunder and in the Directive, as the context may require.

(1) Subject to the exclusions stated in sub-regulation Applicability of

these

(2), these regulations shall apply to all associations established

regulations.

(a)

for a private interest; or

(b) for the achievement of a social purpose or for the

carrying on of any lawful activity on a non-profit making basis;

and this, irrespective of whether they are registered with the Registrar

for Legal Persons in terms of the Second Schedule or applicable

regulations or with any other registrar, commissioner, board or entity

in terms of any special law and includes co-operative societies, sports

organisations and voluntary organisations in the form of associations.

(2) These regulations shall not apply to

(a) any association of persons which is regulated by the

Companies Act;

(b) an association which is established as a

condominium association in accordance with the Condominium Cap. 398.

Act;

(c)

an association which is a trade union or an

employers’ association;

(d) a voluntary organisation enrolled with the

Commissioner for Voluntary Organisations which is in the form

of a foundation, trust or temporary organisation; or

(e)

any other type of association not referred to above

which the Minister responsible for justice may by notice

designate.

(1) Every association shall take all reasonable steps to

obtain and at all times hold adequate, accurate and up to date

information in respect of its beneficial owners, which shall at least

include the following particulars

(a) the name, the date of birth, the nationality, the

country of residence and an official identification document

number indicating the type of document and the country of

issue, of each beneficial owner;

(b) the nature and extent of the beneficial interest held

by each beneficial owner and any changes thereto;

(c)

the role of the relevant person in relation to the

association in terms of paragraphs (a) to (c) of the definition

"relevant person" in regulation 2(1);

(d) the effective date on which a natural person became,

or ceased to be, a beneficial owner of the association or has

increased or reduced his beneficial interest in the association.

(2) The association shall obtain the information required under

sub-regulation (1) from the beneficial owners of the association and,

or from any natural person whom it has reasonable cause to believe to

be a beneficial owner, who shall be bound to provide the said

information to the association without delay and every beneficial

owner who acquires, disposes of, increases or reduces his beneficial

interest in the association or is appointed or ceases to carry out the

role of a relevant person within the association shall be bound to

immediately provide the said information to the association.

(3) Such information shall be verified by the association on

the basis of documents, data or information obtained from a reliable

source. The association shall also ensure that it obtains declarations

confirming that the beneficial owner is not an intermediary, such as

an agent, nominee or trustee, for another person, and, if so, the

association shall also obtain information on the principal or

beneficiary of such intermediary.

Any information contained in the statute of an association,

a power of attorney, an engagement or instruction letter delivered to

the Registrar for Legal Persons, and any document or notice

registered with the Registrar for Legal Persons at any time, any

testament or any other official document shall be deemed to be

sufficiently reliable for the purposes of carrying out the duties under

this regulation.

(4) Every association shall enter the information referred to in

sub-regulation (1) in

(a)

a register of members, which shall contain such

information about the members of the association; or

(b) a register of relevant persons, which shall contain

such information about the persons mentioned in paragraphs (a)

to (c) of the definition "relevant persons" in these regulations;

as the case may be, which registers shall be kept and maintained by

the association at the registered address of the association or at such

other place as may be specified in the statute of the association.

(5) An association shall not

(a)

enter the name of a new member or any changes to

the voting rights or ownership interests in the register of

members; or

(b) enter the name of a relevant person or any changes

thereto in the register of relevant persons; or

(c)

notify, when required upon an event, the Registrar

for Legal Persons in compliance with the Second Schedule;

unless it has obtained, as may be applicable, information on the

underlying beneficial ownership and unless it has carried out

customer due diligence obligations in terms of the requirements of the

Prevention of Money Laundering Act and regulations made

thereunder.

(6) Any person who is a member or a relevant person of an

association has a right of access to information relating to himself in

the relevant register held by such association within a reasonable

period after he makes a request in writing to this effect to the

association.

(7) If default is made in complying with the provisions of this

regulation, the association and every officer of the association who is

in default shall be jointly and severally liable to a penalty, and, for

every day during which the default continues, to a further penalty

Provided that an officer of the association shall not be

liable if he had exercised all due diligence to comply with the

provisions of this regulation and the default was not due to any act or

omission or negligence on his part.

(1) With effect from the date of the coming into force of

these regulations, where an association has been established and, or

registered prior to the coming into force of these regulations there

shall be delivered to the Registrar for Legal Persons within six

months from the date of the coming into force of these regulations a

declaration, in the prescribed form, if any, signed by two of the

administrators of the association, unless the association has a sole

administrator in which case by such administrator, containing the

information in accordance with regulation 4 on all the beneficial

owners of the association. Where the administrator is a body corporate,

such declaration shall be signed by at least two persons entrusted with

the management and administration thereof.

(2) An association, and all relative documents, shall not be

registered in accordance with the applicable special law unless the

Registrar for Legal Persons is satisfied that the requirements of this

regulation have also been complied with.

(3) In case of default, the association and every officer of the

association who is in default shall be jointly and severally liable to a

penalty, and, for every day during which the default continues, to a

further penalty

Provided that an officer of the association shall not be

liable personally if he shows that he had exercised all due diligence to

comply with the provisions of this regulation and the default was not

due to negligence on his part.

(4) The Registrar for Legal Persons shall be entitled to require

online registration of any documents or forms submitted to such

Registrar for Legal Persons in accordance with these regulations, as

established in guidelines which he may issue for this purpose.

(1) With reference to any association which is

established on or after the date of the coming into force of these

regulations, there shall be delivered to the Registrar for Legal Persons

within six months from the date of the coming into force of these

regulations

(a)

an authenticated copy of its statute; and

(b) a declaration in the prescribed form, if any,

containing the information in accordance with regulation 4 on

all the members and the relevant persons of the association,

signed by two of the administrators of the association, unless the

association has a sole administrator in which case by such

administrator.

(2) The association shall not commence activities and, or be

registered in accordance with the applicable special law unless the

Registrar for Legal Persons is satisfied that the requirements of this

regulation have been complied with.

(3) In case of default, the association and every officer of the

association who is in default shall be jointly and severally liable to a

penalty, and, for every day during which the default continues, to a

further penalty

Provided that an officer of the association shall not be

liable personally if he shows that he had exercised all due diligence to

comply with the provisions of this regulation and the default was not

due to any act or omission or negligence on his part.

(4) On an on-going basis, the Registrar for Legal Persons or

where the registration is taking place under a special law, the relevant

registrar, shall not proceed with the registration of any registerable

forms or documents of the association delivered to him in accordance

with any applicable special law unless the Registrar for Legal Persons

is satisfied that the requirements of these regulations have been

complied with.

(5) The Registrar for Legal Persons shall be entitled to require

online registration of any documents or forms submitted to such

Registrar for Legal Persons in accordance with these regulations, as

established in guidelines which he may issue for this purpose.

(1) The information on the beneficial owners of every Register of

association provided to the Registrar for Legal Persons in accordance Beneficial

Owners.

with these regulations shall be held by the Registrar for Legal Persons

in a Register of Beneficial Owners kept for this purpose.

(2) Documents required to be delivered to the Registrar for

Legal Persons under any of the provisions of these regulations shall

not form part of nor be registered in the main Register administered

by the Registrar for Legal Persons under the Second Schedule and the

information on the beneficial owners of every association provided to

the Registrar for Legal Persons in accordance with these regulations

shall be entered and held by the Registrar for Legal Persons only in

the Register of Beneficial Owners kept by the Registrar for Legal

Persons for this purpose.

(3) The Register of Beneficial Owners shall be accessible only

to such persons, under such conditions and in accordance with such

procedures as are set out in these regulations. For the avoidance of

doubt, in case of conflict regarding accessibility between any special

law governing a particular legal form of association, including the

Second Schedule, and these regulations, these regulations shall

prevail over the provisions of any special law in so far as concerns the

Register of Beneficial Owners.

(4) The information provided by an association in terms of

regulations 5 or 6 shall be deemed to be sufficiently reliable for the

Registrar for Legal Persons in fulfillment of his duties under these

regulations.

(1) The information held in the Register of Beneficial

Owners must be adequate, accurate and up-to-date.

(2) Where there is a change in the beneficial ownership of an

association or any other change occurs as a result of which the

particulars in the Register of Beneficial Owners in relation to a

beneficial owner are incorrect or incomplete, the association shall,

within fourteen days from the date on which the change is recorded

with the association, deliver to the Registrar for Legal Persons a

notice, in the prescribed form, if any, of the change, providing the

information required under regulation 4 on any new beneficial owner,

updated information including on the nature and extent of the

beneficial interest held on each of the other beneficial owners and the

effective date of changes made, and the Registrar for Legal Persons

shall enter the said changes in the Register of Beneficial Owners

Provided that if the change in the beneficial ownership

information relates to a change in the administrator(s), it shall be the

duty of the new administrator(s) to notify the Registrar for Legal

Persons of such change.

(3) The Registrar for Legal Persons shall not register any

changes in the beneficial owners unless the requirements of sub-

regulation (2) have been complied with.

(4) The notice of changes in beneficial ownership referred to in

sub-regulation (2), duly completed, shall be signed by at least one

officer of the association or the secretary. Where the officer is a body

corporate, such notices shall be signed by at least two persons entrusted

with the management and administration thereof.

(5) If default is made in complying with the provisions of this

regulation, the association and every officer of the association who is

in default shall be jointly and severally liable to a penalty, and, for

every day during which the default continues, to a further penalty

Provided that an officer of the association shall not be

liable personally if he shows that he had exercised all due diligence to

comply with the provisions of this regulation and the default was not

due to negligence on his part.

(6) The obligation to file a notice in terms of this regulation

shall not exonerate the association, or any of its officers, from any

duty to notify such changes to the Registrar for Legal Persons or any

other person in terms of the applicable special law.

(1)

If

Rectification of

the Register of

Beneficial

(a) the name of any person is, without sufficient cause,

Owners.

entered in or omitted from the register of members or the

register of relevant persons kept and maintained by an

association or the Register of Beneficial Owners kept and

maintained by the Registrar for Legal Persons; or

(b) unnecessary delay takes place in entering in the

register of members or the register of relevant persons kept and

maintained by an association or the Register of Beneficial

Owners kept and maintained by the Registrar for Legal Persons

the fact that a person has ceased to be a member or a relevant

person of such association;

the person aggrieved or any other member or relevant person may

apply to the First Hall, Civil Court, for the rectification of the relevant

register and, or the Register of Beneficial Owners.

(2) Where an application is made under sub-regulation (1), the

First Hall, Civil Court, may

(a)

refuse the application;

(b) decide any question as to whether the name of any

person should or should not be entered in or omitted from the

register of members or the register of relevant persons or the

Register of Beneficial Owners, as the case may be;

(c)

order the rectification of the register of members or

the register of relevant persons or the Register of Beneficial

Owners, as the case may be;

(d) order payment by the association of compensation

of up to one thousand euro (€1,000) for any loss sustained by

any party aggrieved; and, or

(e)

more generally, decide any question necessary or

expedient to be decided for rectification of the relevant register.

(3) All decisions of the First Hall, Civil Court, relating to the

register of members or the register of relevant persons or the Register

of Beneficial Owners shall be deemed to be orders which apply to the

association and the Registrar for Legal Persons, without being a party

thereto, and they shall, upon being notified with a certified copy of

the judgment of the First Hall, Civil Court, act accordingly to ensure

that identical actions are taken in the register of members or the

register of relevant persons, as the case may be, and the Register of

Beneficial Owners.

(1) The information on the beneficial owners of an

association held by the Registrar for Legal Persons in the Register of

Beneficial Owners shall, subject to the provisions of these

regulations, be accessible to

(a) national competent authorities with designated

responsibilities for combating money laundering and terrorist

financing, or that have the function of investigating or

prosecuting money laundering, associated criminal offences and

terrorist financing, or of tracing, seizing, freezing and

confiscating criminal assets, the Financial Intelligence Analysis

Unit and national tax authorities, and any other national

competent authority within the meaning assigned to it under the

Prevention of Money Laundering and Funding of Terrorism

Regulations not already covered above, for the purposes of

fulfilling their statutory functions, in a timely manner without any

restriction and without alerting the association or the beneficial

owners concerned; and

(b) subject persons in terms of the Prevention of Money

Laundering and Funding of Terrorism Regulations, for the

purpose of carrying out customer due diligence in accordance

with the said regulations with reference to such association,

which access shall be granted in a timely manner on a written

request.

(2) Subject to compliance with the provisions of the Data

Protection Act on access to personal data, any person who, or

organisation which, in a written request, satisfactorily demonstrates

and justifies a legitimate interest specifically related to the prevention

of money laundering and the financing of terrorism may be provided

with the following information held in the Register of Beneficial

Owners with reference to a specified association

(a)

the name;

(b)

the month and year of birth;

(c)

the nationality;

(d)

the country of residence; and

(e)

the extent and nature of the beneficial interest of the

beneficial owners of the association;

and this shall be granted in a timely manner. Any such person or

organisation shall not be granted access to any other information or

documents relating to the beneficial owners of the association which

may be in the possession of the Registrar for Legal Persons.

(3) The subject persons mentioned in sub-regulation (1)(b)

shall, together with the written request, submit to the Registrar for

Legal Persons

(a)

identification details and other information supported

by documents, certified as authentic, showing that the person

requesting access to the Register is a subject person, such as a

licence or a professional warrant or other evidence of the function

of the subject person;

(b) a declaration that the purpose of the enquiry relates

and will contribute to the prevention, detection and combating

of money laundering or the associated predicate offences or the

financing of terrorism;

(c)

documentation, certified as authentic, of the legal

relationship with the association or the beneficial owners, such

as an engagement or instruction letter engaging the subject

person or a power of attorney; and

(d) any other document which the Registrar for Legal

Persons may deem necessary.

(4) The persons or organisations mentioned in sub-regulation

(2) shall, together with the written request, submit to the Registrar for

Legal Persons

(a)

identification details and other information

supported by documents, certified as authentic, identifying the

person requesting information from the Register of Beneficial

Owners;

(b) a declaration that the purpose of the enquiry relates

and will contribute to the prevention, detection and combating

of money laundering or the associated predicate offences and

the financing of terrorism;

(c)

a statement on the basis of the legitimate interest

underlying the request and associated supporting documentation

as may be reasonably required by the Registrar for Legal

Persons to prima facie ascertain that the person or organisation

has a legitimate interest in consulting the Register of Beneficial

Owners with reference to the particular association or beneficial

owners thereof; and

(d) any other document which the Registrar for Legal

Persons may deem necessary.

For this purpose, the Registrar for Legal Persons may

publish guidelines setting out the documentation required to support

such a request to information held in the Register of Beneficial

Owners and the evidence of any stated legitimate interest as well as

the procedure for making such requests and any other applicable

conditions.

(5) Access to or provision of information held in the Register

of Beneficial Owners shall be subject to the following conditions

(a)

the competent authorities referred to in sub-

regulation (1)(a) shall be granted access without restriction to

the requested information held in the Register of Beneficial

Owners on the assumption that such consultation is related to

such competent authority’s statutory functions and without

prejudice to the relevant competent authority’s obligations

under applicable data protection laws and regulations;

(b) subject persons referred to in sub-regulation (1)(b)

shall be granted access to the requested information held in the

Register of Beneficial Owners upon written request to the

Registrar for Legal Persons on the basis of the declarations

made and documents submitted being satisfactory as stated in

sub-regulation (3) and without prejudice to the relevant subject

person’s obligations under applicable data protection laws and

regulations and laws relating to professional secrecy; and

(c)

the persons or organisations set out in sub-regulation

(2) shall be granted the information requested on satisfactory

compliance with sub-regulation (4). For the avoidance of doubt,

it shall be incumbent on the person or organisation to prove its

legitimate interest to the Registrar for Legal Persons. Any such

request and any permission granted shall be limited to the

specific association and the relevant beneficial owner or

owners.

(6) Access to information on a beneficial owner of an

association under sub-regulations (1)(b) and (2) may not be granted,

in full or in part, where in exceptional circumstances to be justified by

means of documentary evidence and to be determined on a case by

case basis, access to such beneficial ownership information would

expose the beneficial owner to the risk of fraud, kidnapping,

blackmail, violence or intimidation, or whether the beneficial owner

is a minor or otherwise incapable.

Such limitation shall not hinder in any way the access of

persons referred to in sub-regulation (1)(a) or of credit or financial

institutions in carrying out their duties under laws for the prevention

of money laundering and terrorist financing.

Each request for information which raises the above risks

based on information provided by the association when complying

with these regulations shall be examined by the Registrar for Legal

Persons on a case-by-case basis prior to his determination on whether

to grant access to information or otherwise.

(7) The Registrar for Legal Persons shall be bound to notify in

writing the applicant of any decisions that he may take refusing a

written request made to him, providing the reasons for his decision.

Any person or organisation which feels aggrieved by any decision of

the Registrar for Legal Persons may appeal to the First Hall, Civil

Court, from such decision within thirty days of receipt thereof or,

where there is no response to an application, after forty-five days

from the date of such written request to the Registrar for Legal

Persons.

(8) Notwithstanding the provisions of any other law, including

the laws on professional secrecy and data protection, the competent

authorities referred to in sub-regulation (1)(a) and the Financial

Intelligence Analysis Unit are permitted to, in pursuance of their

functions in accordance with applicable law, provide the information

about the beneficial owners to competent authorities and to Financial

Intelligence Units of other Member States of the European Union and

to do so in a timely manner.

(9) The Registrar for Legal Persons shall be entitled to require

online requests to access information in the Register of Beneficial

Owners, and to levy a fee for such access to the Register as

established in guidelines which he may issue for this purpose, so as to

cover the administrative costs thereof.

(1) All persons entitled to access information in terms

of these regulations shall be subject to the Data Protection Act and

relevant regulations thereunder and shall also be subject to the

obligation not to disclose any information about beneficial owners

except as required or permitted by applicable law.

(2) The Registrar for Legal Persons shall be bound to maintain

confidentiality on any access to the Register of Beneficial Owners by

the authorities referred to in regulation 10(1)(a) and shall not inform

the association or the beneficial owners on whom information is

sought of such access.

(1) The fact that associations comply with these

regulations with regard to provision of information to the Registrar

for Legal Persons shall not imply that such associations do not remain

equally obliged to provide any information requested of them by

subject persons taking customer due diligence measures in

accordance with the Prevention of Money Laundering Act and

applicable regulations, as well as others entitled to such information

under special laws, about such association and its beneficial owners.

(2) So as to ensure that the Registrar for Legal Persons is not

inundated with requests under these regulations which would be

easily met by observance of basic compliance with applicable laws

and so as to avoid demands on the Registrar for Legal Persons which

are not eligible under these regulations

(a)

all subject persons shall deal directly with

associations and beneficial owners prior to applying to the

Registrar for Legal Persons; and

(b) all associations shall provide information about their

beneficial owners, direct and indirect, to subject persons, as

well as others entitled to such information under special laws, in

a timely manner, when

(i) such subject persons are taking customer due

diligence measures in accordance with the Prevention of

Money Laundering Act and applicable regulations; or

(ii) other persons who are seeking information

from the association itself and who are entitled to demand,

and be provided with, such information, are doing so for

the purposes of special laws which are intended for the

prevention, detection and combating of money laundering

or the associated predicate offences or the financing of

terrorism.

(3) In any case, subject persons shall not rely exclusively on

the Register of Beneficial Owners to fulfill their customer due

diligence requirements and access to such Register of Beneficial

Owners by subject persons in terms of these regulations shall not

exonerate such subject persons from all responsibilities and duties

incumbent upon them in terms of applicable law.

Any officer or beneficial owner of an association who Misleading,

knowingly or recklessly makes a statement, declaration or otherwise false

deceptive

provides to the Registrar for Legal Persons information on the information.

beneficial ownership of an association, that is misleading, false or

deceptive in a material particular, shall be guilty of an offence and

shall be liable on conviction to a fine (multa) of not more than five

thousand euro (€5,000) or to imprisonment for a term not exceeding

six months or to both such fine and imprisonment.

(1) The Register of Beneficial Owners held by the Interconnection

Registrar for Legal Persons in accordance with regulation 7 shall be of

Beneficial

interconnected with the system of interconnection of central registers Owners.

composed of the registers of Member States and EEA States via the

European Central Platform and the European e-Justice portal serving

as the European electronic access point.

(2) The information on the beneficial owners of an association

held by the Registrar for Legal Persons in the Register of Beneficial

Owners shall be available and accessible to the persons mentioned in

regulation 10(1)(a) through the system of interconnection of registers

mentioned in this regulation.

Any document which is required to be delivered to the Electronic

Registrar for Legal Persons under any of the provisions of these communication.

regulations and any such delivery and the retention of any such

document by the Registrar for Legal Persons, may be in such format

and by such means, including in electronic form and by electronic

communication within the meaning of the Electronic Commerce Act, Cap. 426.

as the Registrar for Legal Persons may deem appropriate.

(1) Where any provision of these regulations provides Administrative

for the imposition of a penalty, the amount of such penalty shall be penalties.

determined by reference to the Schedule, which specifies the

maximum penalty that may be imposed by the Registrar for Legal

Persons under any of the provisions of these regulations.

(2) In the Schedule, the first column indicates the regulation

and sub-regulation which prescribes that a penalty shall be imposed,

the second column gives a general description of the infringement,

which description shall not be relied on in interpreting any provision

of these regulations, the third column prescribes the maximum

penalty and the fourth column prescribes the maximum daily default

penalty. The penalty shall become due on the day on which the

default occurs and the daily default penalty shall be due for every day

during which the default continues and shall accrue from the day

following that on which the default occurs.

(3) Action by the Registrar for Legal Persons for the recovery

of a penalty under these regulations shall be prescribed by the lapse of

five years from the day on which the default occurs.

(4) An association, irrespective of whether it has legal

personality or not, shall be jointly and severally liable with its officers

for the payment of any administrative penalties imposed under these

regulations.

(5) The provisions in the Schedule shall apply to any penalty

imposed by the Registrar for Legal Persons under these regulations.

Access to information in the Register of Beneficial Owners

may be subject to the payment of a fee which shall not exceed the

administrative costs thereof. The Registrar for Legal Persons may,

from time to time, by notice publicly available at the Registry for

Legal Persons, establish such fee.

The Registrar for Legal Persons shall have the power to

issue and prescribe forms, and to modify the same as may be

required, from time to time, to be used by associations, beneficial

owners, persons requesting access and information and otherwise, for

the better carry out and implementation of these regulations.