Criteria of beneficial ownership for a Company Limited By Guarantee

​A person is a beneficial owner if he meets 1 or more criteria stated in the Guidelines. For the purposes of the beneficial ownership reporting where the individual meets more than 1 criteria, each criterion must be recorded accordingly. 

Criteria :

1. Criteria C - Has the right to exercise ultimate effective control whether formal or informal over the company or the directors or the management of the company;
2. Criteria D - Has the right or power to directly or indirectly appoint or remove a director(s) who holds the majority of the voting rights at the meeting of directors; or
3. Criteria E- Is a member of the company and, under an agreement with another member of the company, controls alone a majority of the voting rights in the company.

More information :

1. Guidelines for the Reporting Framework for Beneficial Ownership of Companies
2. Case Studies and Illustrations of the Guidelines for the Reporting Framework for Beneficial Ownership of Companies
3. Electronic Beneficial Ownership System ​(e-BOS)​​
4. Companies (Amendment) Act 2024
5. ​Practice Directive No. 9/2024: Lodgement of Beneficial Ownership Information under the Companies Act 2016 Through e-BOS
6. FAQ Beneficial Ownership​​
7. FAQ Companies (Amendment) Act 2024