Central Register of Beneficial Owners – update for insolvency practitioners

Dec 13, 2019

We wish to remind members of the obligation to file beneficial ownership information with the Central Register of Beneficial Ownership of Companies and Industrial & Provident Societies (RBO). 

The Insolvency Committee of the Consultative Committee of Accountancy Bodies - Ireland (CCAB-I) is currently preparing a guidance paper which will discuss the implications of the RBO on insolvency practitioners.  The Insolvency Committee is currently liaising with the relevant parties prior to publishing this guidance paper.

It is noted that insolvency practitioners should consider whether the RBO has been complied with for appointments after 22 November 2019 and you may consider including some relevant wording regarding same in your letter of engagement.