The Companies and Intellectual Property Commission (CIPC) recently announced the promulgation of amendments to the Companies Act 71 of 2008, in relation to beneficial ownership. The amendments, in part, give the CIPC a mandate to require companies to file and update Beneficial Ownership information, as and when applicable.Failure to comply with the provisions relating to the beneficial ownership register requirements/beneficial interest register requirements constitutes an offense under the Companies Act; a compliance notice may be issued in the case of noncompliance and an administrative penalty may be imposed.Beneficial-ownership disclosures requiredThe Companies and Intellectual Property Commission (CIPC) in South Africa recently...