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ARTICLE · 21 JUNE 2023

Access To Company Ownership Information: New Developments

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Ireland's legislative response to the controversial Opens in new windowSovimOpens in new window decision has been published in a move likely to reignite the debate about trade-offs...

European UnionGovernment, Public Sector
Pat English
Pat English
Emma Doherty
Emma Doherty
Anne-Marie Bohan
Anne-Marie Bohan
Dorothy Hargaden
Dorothy Hargaden
Ursula McMahon
Ursula McMahon
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Ireland's legislative response to the controversial Sovim decision has been published in a move likely to reignite the debate about trade-offs between corporate transparency and privacy rights.

Since December 2022, public access to the Irish Register of Beneficial Ownership of Companies ("RBO") has been on hold, a situation reflected across several EU member states. (Read more here).

New access rules

An amending statutory instrument signed by the Minister for Finance in recent days sets a surprisingly high bar for access to information held on the RBO. A person must make a formal submission satisfying the Registrar of Beneficial Ownership of Companies that:

  • the person is engaged in the prevention, detection or investigation of money laundering or terrorist financing offences

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