Companies Act, 2017

PART-VII

REGISTER AND INDEX OF MEMBERS

Companies Act, 2017 PART-VII REGISTER AND INDEX OF MEMBERS From: 2023-11-01 - To: 0000-00-00 123A. Record of ultimate beneficial owner.- (1) A company shall maintain information of its ultimate beneficial owners in such form and manner, within such period and obtain such declaration from its members as may be specified. Explanation.- For the purpose of this section, the term “ultimate beneficial owner” means a natural person who ultimately owns or controls a company, whether directly or indirectly, through at least twenty five percent scares or voting rights. or by exercising effective control in that company through such other means, as may be specified. (2) Every company shall, in such form and manner as may be specified, maintain a register of its ultimate beneficial owners and. shall timely record their accurate and updated…