Establishment of the Transparency Register and the Register-Keeping Body

(1) A register is established for the recording and making accessible of information on beneficial owners (Transparency Register).
(2) The Transparency Register is kept electronically by the register-keeping body as a sovereign task of the Federation. Data stored in the Transparency Register are maintained as a chronological collection of data.
(3) Where a notification under section 20 is incomplete or unclear, or where doubt exists as to which association under section 20(1) the information on the beneficial owner contained in the notification is to be attributed, the register-keeping body may require the association named in the notification to transmit the information necessary for an entry in the Transparency Register within a reasonable period. This applies correspondingly to notifications of legal arrangements under section 21.
(3a) The register-keeping body is entitled to transmit to the authority under section 56(5), second sentence the information and documents necessary for that authority to perform its tasks under section 56(5), second sentence.
(4) The register-keeping body shall, on application, prepare printouts of data stored in the Transparency Register, and confirmations that no current entry exists in the Transparency Register on the basis of a notification under section 20(1) or section 21. It shall, on application, certify that the data transmitted correspond to the content of the Transparency Register. Such certification carries no guarantee as to the accuracy and completeness of the information on the beneficial owner. An application for a printout of data that are made accessible only via the Transparency Register under section 22(1), first sentence, nos. 4 to 9 may also be forwarded to the court via the Transparency Register. This applies correspondingly to forwarding an application for a printout of data made accessible under section 22(1), first sentence, nos. 2 and 3 to the operator of the Company Register.
(5) The register-keeping body shall prepare an information security concept for the Transparency Register setting out the technical and organisational measures taken for data protection.
(6) The Federal Ministry of Finance is authorised, by statutory instrument not requiring the consent of the Bundesrat, to regulate the technical details of the establishment and operation of the Transparency Register, including the storage of historical data sets, and compliance with deletion periods for the data stored in the Transparency Register.