Changes To Beneficial Ownership Regime

One of the most notable innovations in the Beneficial Ownership Act 2025, which was passed last month in the House of Assembly, is the introduction of an enforcement process that allows companies to act against uncooperative beneficial owners.

Traditionally, enforcement of ownership disclosure has rested with regulators. The new framework changes that dynamic by giving legal persons the power to restrict rights or take other measures if a beneficial owner refuses to provide accurate information.

This approach is intended as a last-resort tool to strengthen compliance, but it also carries practical challenges.

Requiring companies to enforce directly against their owners risks creating conflict within corporate structures and may prove difficult to administer, particularly where ownership is dispersed or contested.