The ‘what’ and ‘when’ of the new beneficial ownership reporting for companies
10 May 2023, Dr Candice Reynders, Luhann Prinsloo
Surprisingly, many companies remain blissfully unaware
of the new company reporting requirements introduced by the General Laws (Anti-Money Laundering and... Combatting Terrorism
Financing) Amendment Act 22 of 2022 (“Amendment
Act”). The Amendment Act introduces changes to the company environment
(effective 1 April 2023) which will have an administrative impact on South
African companies. In this article we delve into the ‘what’ and ‘when’ of these
new reporting requirements.