Enforcement Beneficial Owner

Companies Offences

A company that fails to comply with the beneficial shareholder registration obligations commits an offence and shall be liable on summary conviction, to a class A fine, or on conviction on indictment, to a fine not exceeding €500,000.

If the contravention in respect of which a company is convicted of an offence is continued after the conviction, the company shall be guilty of a further offence on every day on which the contravention continues and for each such offence, it shall be liable, on summary conviction, to a class A fine.

A person who, in purported compliance makes a statement that is false in a material particular, knowing it to be so false or being reckless as to whether it is so false, commits an offence and shall be liable on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months or both, or on conviction on indictment, to a fine not exceeding €500,000 or imprisonment for a term not exceeding 12 months or both.

Where an offence under these Regulations is committed by a body corporate and is proved to have been so committed with the consent or connivance of any person, being a director, manager, secretary or other officer of the body corporate, or a person who was purporting to act in such capacity, that person shall, as well as the body corporate, be guilty of an offence and shall be liable to be proceeded against and punished as if he or she were guilty of the first-mentioned offence.

Prosecution of Offences

Summary proceedings in relation to an offence under these Regulations may be brought and prosecuted by:

• the Director of Public Prosecutions, or
• the Registrar.

The Registrar, at his or her discretion, may refer a case to the Director of Public Prosecutions where the case is one in relation to which the Registrar has reasonable grounds for believing that an indictable offence under these Regulations has been committed.

Summary proceedings in relation to an offence under these Regulations may be brought, heard and determine before a judge of the District Court assigned to –

• the Dublin Metropolitan District, or
• the district court district of which the district court area of Carlow forms part,

but only to the extent, in the case of the district court district referred to in the second subparagraph , that the judge so assigned is exercising jurisdiction in the district court area of Carlow so referred to.

Certificate by Registrar Admissible

A certificate in writing and signed by the Registrar shall be admissible in all legal proceedings as evidence without further proof of any of the following facts stated in the certificate unless the contrary is shown –

• the contents of the central register,
• the date on which information was registered with the Registrar,
• the most recent date (if any) on which a requirement under these Regulations was complied with.

Interconnection of central registers via the European Central Platform

The Registrar shall arrange for the connection of the central register with central registers in other Member States as provided for by the EU Money Laundering Directive.

Prosecution of Offences Trusts

Summary proceedings in relation to an offence under the Regulations may be brought and prosecuted by the Director of Public Prosecutions, or the Registrar.

The Registrar, at his or her discretion, may refer a case to the Director of Public Prosecutions where the case is one in relation to which the Registrar has reasonable grounds for believing that an indictable offence under these Regulations has been committed.

Summary proceedings in relation to an offence under these Regulations may be brought, heard and determined before a judge of the District Court assigned to the Dublin Metropolitan District.

Summary proceedings may be commenced at any time within 12 months from the date on which the offence was committed.

Certificate by Registrar Admissible

A certificate in writing and signed by the Registrar shall be admissible in all legal proceedings as evidence without further proof of any of the following facts stated in the certificate unless the contrary is shown –

• the contents of the central register,
• the date on which information was registered with the Registrar,
• the most recent date (if any) on which a requirement under these Regulations was complied with.

European Central Platform

The Registrar shall arrange for the connection of the central register with central registers in other EU Member States as provided for in the money laundering directive.