Ireland Beneficial Ownership: Manually Populate Beneficial Owners Record

In Diligent Entities, you can maintain records on Beneficial Owners by running the Beneficial Ownership auto-script report. A Beneficial Ownership report or auto-script allows you to identify the potential beneficial owners and populate the beneficial ownership records.

Find below some best practices on how to keep and maintain records for Beneficial Owners:

  • Make sure all the required information for the Beneficial Owners is entered in Diligent Entities.

  • Enter and keep accurate Beneficial Ownership records in Ownership > Beneficial Owners.

  • When no natural persons can be identified as beneficial owner, if applicable, specify persons as Senior Managing Officials, SMOs, in Appointments.

  • If applicable, change the company type to Listed Public Limited Company so that Diligent Entities does not generate a Beneficial Ownership register for the entity.

Identify Beneficial Owners

When you run the Beneficial Ownership auto-script, Diligent Entities identifies the Beneficial Owner first. In case it cannot find a beneficial for the company, the system considers the legal owner to be both the legal and beneficial owner. To learn more, refer to Ireland Beneficial Ownership: Batch Populate Beneficial Owners Records.

Note

In order to have valid and correct data when running auto-script, you must make sure that the company ownership data has been correctly entered in Ownership > Share Classes or Shareholders or Corporate Relationships.

If the legal owner is different from the beneficial owner, for example, in those cases where the shares are held through trustees or nominees, you have the following two options:

  1. Edit the share event after creating it. To learn more, refer to Allot Shares to a Shareholder

  2. Add the beneficial owner manually in Ownership > Beneficial Owners.

Manually add Beneficial Owners

When you manually add Beneficial Owners, the system first considers them as Potential Beneficial Owners until their status and particulars are confirmed in writing, including making the relevant updates to their record under Status of Investigations.

To manually add a beneficial owner:

  1. Open the relevant company record.

  2. Navigate to Ownership > Beneficial Owners.

  3. Select New.

  4. Next, follow the same steps as outlined in Ireland Beneficial Ownership: Enter a Potential Beneficial Owner

  5. When finished, select Save. The potential beneficial owner is now listed on the Compliance Beneficial Owners page.