Beneficial ownership transparency (Tranche 3 — under consultation)
Proposed beneficial ownership register for unlisted companies and trusts — consultation through 2024-2025; commencement TBD.
Who must comply
Unlisted Australian companies (proposed); trusts in scope TBD.
What triggers it
Being a captured entity once legislation passes.
When due
TBD — likely 2027-2028 commencement.
Evidence required
BO register; lodgement with ASIC/ABRS once required.
Max penalty
TBD — likely civil and criminal penalties for non-disclosure or false statements
Summary
Treasury consultation on a public beneficial ownership register for unlisted Australian companies. Expected to require disclosure of natural persons with ≥25% ownership/control. Aligns with FATF Recommendation 24 + Tranche 3 AML reforms. Commencement and final scope still being settled.
Enforced by
Source legislation
Entity types
Topics
Source: https://treasury.gov.au/consultation/c2022-340667. Rules Mate is not a law firm. Always verify against the live regulator source before acting.