Trust Securities notifies members to provide particulars of ultimate beneficial owners
OtherTrust Securities & Brokerage Limited submitted a notice to members seeking particulars of ultimate beneficial owners under Regulation 48 of the Companies Regulations, 2024. Members holding shares or voting rights on behalf of another person are asked to provide the required information within 14 days of the notice dated November 3, 2026.
Key Findings
- The notice is issued under Regulation 48 of the Companies Regulations, 2024 and Section 123A of the Companies Act, 2017.
- An ultimate beneficial owner is described as a natural person who ultimately owns or controls at least 25% of shares or voting rights, directly or indirectly, or exercises effective control through other means.
- Members holding an interest on behalf of another person must submit the beneficial owner’s particulars within 14 days of the notice.
- The notice states that non-compliance may lead the company to proceed under the Act and Regulations; violations may carry a penalty of up to one million rupees.
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