Register of beneficial owners

(1) A company incorporated under this Act shall keep a register to be known as the register of beneficial owners containing the following particulars– (a) full name; International Business Companies[CAP. 270 73 (b) former name, if any, unless the former name was changed by deed poll or other legal means or disused for more than 10 years; (c) date on which the person became a beneficial (d) date on which the person ceased to be a (e) usual residential address, unless that address is the same as the individual’s address for the service of documents; (f) date of birth; (g) nationality; (h) occupation; (i) particulars of each owner’s beneficial interest and how it is held; and (j) such other information as may be prescribed. (2) The directors shall ensure that the information required by sub-section (1) to be kept in its register of beneficial owners is accurate and up-to-date. (3) The register of beneficial owners may be in such form as the director may approve but if it is in magnetic, electronic or other data storage form, the company must be able to produce legible evidence of its contents. (4) The register of beneficial owners is prima facie evidence of any matters directed or authorised by this Act to be contained therein. 74 (5) An entry relating to a former beneficial owner of the company may be removed from the register of beneficial owners after 5 years from the date on which that person ceased to be a beneficial owner of the company. (6) A company that contravenes this section is liable to a penalty of $500 for each day or part thereof during which the contravention continues, and a director who knowingly permits the contravention is liable to a like penalty.