The ownership structure should be revealed for the whole period of utilization of public money and, alternatively, a year or two after because of the company’s dividends are usually paid out with a certain delay.
If the company ownership structure was disclosed for the entire time period when public funds are being transferred to private companies, and possibly some time after, it would be possible to prevent the corruption practice under which the payment of bribes in the form of a dividend from the company which received public funds is delayed after the realisation of the public contract when the company get out of the monitoring regime.
Sources:
- Frank Bold: Governance, transparency and public participation in transport infrastructure Projects, 2014, p. 33
- 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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