Transparency Obligations in Respect of Certain Associations

(1) Legal persons governed by private law and registered partnerships shall obtain, retain and keep up to date the information listed in section 19(1) on the beneficial owners of those associations, and shall notify it to the register-keeping body without delay for entry in the Transparency Register. The obligation under the first sentence also applies to associations with their registered office abroad where they hold ownership of a domestic item of real property or undertake to acquire such ownership, where interests within the meaning of section 1(3) of the Real Property Transfer Tax Act are combined in them or pass to them, or where they hold an economic interest within the meaning of section 1(3a) of the Real Property Transfer Tax Act on the basis of a legal transaction. The obligation under the first sentence does not apply to associations referred to in the second sentence where they have already transmitted the information under Article 1, no. 15, letter c) of Directive (EU) 2018/843 and under section 19(1) to another register of a Member State of the European Union. The notification must be made electronically in a form permitting its electronic accessibility. As regards the information on the nature and extent of the beneficial interest under section 19(1), no. 4, it shall be stated what, under section 19(3), the status as beneficial owner is based on.
(2) A legal person governed by private law or a registered partnership that is subject to the notification obligation under subsection (1), first sentence and that is not entered in the Commercial Register, the Cooperative Register, the Companies Register, the Partnership Register or the Register of Associations, shall notify the register-keeping body without delay where 1. its designation or registered office has changed, 2. it has been merged, 3. it has been dissolved, or 4. its legal form has changed.
(3) Beneficial owners of associations under subsection (1) shall notify those associations of the information necessary to fulfil the obligations under subsection (1), and shall notify without delay any change to that information. Shareholders who are beneficial owners, or who are directly controlled by the beneficial owner, shall notify the associations under subsection (1) of the information necessary to fulfil the obligations under subsection (1), and shall notify without delay any change to that information. Where a member of an association or a cooperative controls more than 25 per cent of the voting rights, the notification obligation under the first sentence falls upon that member. In the case of foundations, the notification obligation under the first sentence falls upon the persons referred to in section 3(3).
(3a) Where the association has not received information on beneficial owners under subsection (3), it shall request appropriate information on the association's beneficial owners from its shareholders, insofar as they are known to it. The shareholders are obliged to answer the request for information within a reasonable period. The obligation to request information under the first sentence does not apply where the information on the beneficial owner under section 19 is already otherwise known to the association. The association shall document the requests for information and the information obtained.
(3b) Where the shareholder becomes aware that the beneficial owner of the association has changed, he or she must notify the association of this within a reasonable period. The first sentence does not apply where 1. the information on the new beneficial owner is already accessible via the Transparency Register, or 2. the shareholder otherwise has positive knowledge that the new beneficial owner is known to the association. The shareholder shall document and retain the notification to the association.
(4) The obligation to provide information under subsection (3) does not apply where the shareholders, members and beneficial owners have already notified the necessary information in some other form.
(5) The Financial Intelligence Unit and the supervisory authorities may, within the scope of their tasks and powers, inspect or request production of the information retained under subsection (1). The information shall be made available to them without delay.