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The Masters Office

In response to the FATF findings, the Masters Office was required to establish a beneficial ownership register. The Department of Justice and Constitional Development published regualtions in terms of the Trust Property Control Act of 1988 as amended by the General Laws (Anti-Money Laundering and Combating of Terrorism Financing) Amendment Act of 2022. The regulations focus on establishment and maintenance of a public register of persons disqualified from serving as trustees; recording of details of accountable institutions by trustee; beneficial ownership information to be recorded by trustee; the Master’s register on the beneficial ownership of trusts; and access to information contained in a beneficial ownership register.

Document Organisation Topics address Date Issued
Chief Master Directive 8Department of Justice and Constitutional Development
  • Chief Master Directive 8 provides direction on Beneficial Ownership Information submission.
2023
Masters trust Beneficial Ownership Trust Register FAQDepartment of Justice and Constitutional Development
  • Master trust Beneficial Ownership Trust Register FAQ address some questions relating to filling of BO information.
2023
Interim Trust Beneficial Ownership RegisterDepartment of Justice and Constitutional Development
  • Trust beneficial ownership register
5 April 2023
Trust Property Control Act, 1988 Amendment of Regulations (Regulations Relating to Beneficial Ownership Registers and Records of Details of Accountable Institutions) Department of Justice and Constitutional Development
  • Establishment and maintenance of Beneficial Ownership Registers
  • Recording of Details of Accountable Institutions
  • Beneficial ownership information to be recorded by trustee
 31 March 2023
Commencement of certain provisions of General Laws (Anti-Money Laundering and Combating Terroristm Financing) Amendment Act, 2022 Department of Justice and Constitutional Development
  • Effective date of subsection 1H of section 6, section 11 A(1)(c ), (2) and (3) and section 7 of Amendment Act
 31 March 2023