Significant Beneficial Owners Rules

The Significant Beneficial Ownership (SBO) Rules ensure transparency in company ownership by identifying individuals who ultimately hold substantial rights or influence, even if such ownership is layered through entities, partnerships, or trusts. Companies must actively trace these individuals and collect declarations in the prescribed forms.

The rules set clear criteria for determining direct and indirect ownership, recognising majority stakes, significant influence, pooled investment structures, and situations where individuals act together.

They also treat certain convertible instruments as shares for assessing beneficial ownership thresholds.

Reporting companies must maintain registers, issue notices, file returns, and approach the Tribunal when information is withheld or unclear.