Submission: Consultation on the enhanced beneficial ownership disclosure for listed entities
Transparency International Australia is pleased to provide the following submission to the consultation on the enhanced beneficial ownership disclosure for listed entities.
This important reform, publicly committed to by the government before the 2022 election and as part of Australia's 3rd Open Government Partnership National Action Plan, is long overdue. While the amendments to the Treasury Laws Amendment Bill 2024 are welcome, we note that the most important update to beneficial ownership transparency will be the creation of a centralised, publicly accessible beneficial ownership register of companies and trusts.
We note the government's staged approach to beneficial ownership transparency and look forward to the second stage of this process commencing soon.