If the corporate ownership structure of a company changes during the period of utilization of public money, the company should submit its updated ownership structure at the latest at the end of quarter in which the change occurred; if the structure does not in the meantime change the company submits its ownership structure at the end of utilization of public money.
If a regular update of changes in the corporate ownership structure was required, it would be possible to continuously monitor the ownership structure up to the ultimate beneficial owners when the company concerned is receiving public funds.
Sources:
- Public Money and Corruption Risks – A Comparative Analysis, Frank Bold, 2013, p. 31 – 39, 77 - 78
- Anticorruption Endowment / Public Against Corruption, Initiative End to Corruption – Proposal for abolition of anonymous paper shares, 2011, [online]
- Vondráček, O., Electronic securities – Transparency of Corporate Ownership Structures, Auditorium, 2013, p. 48
- 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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