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Beneficial ownership database on the way

Final preparations are underway to implement a central database of corporate beneficial ownership. 

The Beneficial Ownership Act was given Royal Assent in April with the database going live on July 1st.
 
Guidance issued by the Financial Services Authority will be laid before next month's sitting of Tynwald. 

The Department of Economic Development says the introduction of the database shows that the Island recognises the importance of "playing a leading role in international standards". 

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