Sunday September 20, 2020

Beneficial ownership amendment to be added to investment measure

The government will introduce an amendment to the Investment Limited Partnership (ILP) bill to ensure the fund structures are covered by beneficial ownership legislation

Daniel Murray

Business Reporter

@danieltmurray
13th October, 2019

The government will introduce an amendment to the Investment Limited Partnership (ILP) bill to ensure the fund structures are covered by beneficial ownership legislation. The move was made by Minister of State at the Department of Finance Michael D’Arcy following revelations by this newspaper that the ILP funds were not covered by European anti-money laundering law which requires the identification and registration of the real owners behind obscure and complex funds.

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