Anticorruption barometer

The proposal of Act on public procurement, which is in the Lower Chamber of the Parliament, nor the proposal of law amending the Act on public registers in conjunction with the proposal of law amending the Act against money laundering, which are in the Government, do not deal with the issue of proving of ownership structures of companies to the state. However, since the proposal of law amending the Act on public registers foresees the disclosure of ultimate beneficial owners, it will have to resolve the issue of proving of the related ownership structures; otherwise it will not be possible to prove that the declared ultimate beneficial owners are indeed their real ultimate beneficial owners.

The Act on public procurement which entered into force foresees an identification of ultimate beneficial owners of the selected contractor which is a legal person and submission of evidence about the interest of the beneficial owner to such legal person. Nevertheless, it does not prescribe the way in which the indirect interests in the company, i.e. the corporate ownership structure, linking those beneficial owners to the contracting legal person, should be disclosed and also how they should be evidenced. This issue is neither resolved in the section on the register of beneficial owners contained in the amendment of the Act on anti-money laundering, or respectively, in the proposal of amendment of Act on public registers which is in the Lower Chamber of the Parliament.