Disclosure of beneficial ownership deadline

/in /by

I want to understand more about the beneficial ownership disclosures, and what the consequences of not complying are? Kindly guide.
GP, Dar

The beneficial ownership must be disclosed by 31 Dec 2021 (in about 18 days). Whether your company has beneficial owners or not, the company must still comply by filing with BRELA. The various forms are: Form 14b: Particulars of Beneficial Owners (to be filed by the Company to the Registrar); Form 14c: Notice of Ceasing to be a Beneficial Owner (to be filed by the Company to the Registrar); Form 14d: Declaration by the Registered Owner of Shares but who does not hold the Beneficial Interest in such Shares (to be filed by the shareholder(s) of the Company to the Company); Form 14d: Declaration of Change of Beneficial Owner (to be filed by the shareholder(s) of the Company to the Company); Form 14e: Declaration by the Beneficial Owner who holds or acquires beneficial interest in shares but whose name is not entered in the Register of Members (to be filed by the beneficial owner to the Company); Form 14e: Declaration of Change in the beneficial interest (to be filed by the beneficial owner to the Company); Form 14f: Change of Beneficial Owners Particulars (to be filed by the Company to the Registrar).

Failure to comply with the Regulations amounts to an offence punishable by a fine of not more than TZS 10M.