In case of doubt about the accuracy of the ownership structure the Financial Analytical Unit of the Ministry of Finance should check the declaration and evidence substantiating the disclosed corporate ownership structure. It should not be possible to own a Czech company that participates on Czech public funds from a country that does not cooperate with the Czech authorities in this context.
If the surveillance over the ownership structure was monitored by a Financial Intelligence Unit and if companies receiving public funds could not be owned from countries which do not cooperate with the Czech Financial Intelligence unit, it would be possible to ensure an effective monitoring of ownership structures.
Sources:
- Frank Bold: Governance, transparency and public participation in transport infrastructure Projects, 2014, p. 33
- OECD: Bueb, J.-P., Ehlermann-Cache, N.,Inventory of Mechanisms to Disguise Corruption in the Bidding Process in Fighting Corruption and Promoting Integrity in Public Procurement, OECD Publishing, str. 173
- Czech Government Anti-corruption Action Plan for 2015, chap. 3, p. 13
- Vondráček, O., Electronic securities – Transparency of Corporate Ownership Structures, Auditorium, 2013, p. 48
- Anticorruption Endowment / Public Against Corruption, Initiative End to Corruption – Proposal for abolition of anonymous paper shares, 2011, [online]
- Vondráček, O., Havrda, M., 21 recipes – Anti-corruption cookbook, Recipe 17: Disclosing ultimate beneficial owners of companies receiving public funds, December 2013
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Justification and sources