Beneficial Ownership Definition
Below is the definition of beneficial ownership which has been agreed upon by the Myanmar Beneficial Ownership Task Force, formed by the Union of the Republic of Myanmar, the Ministry of Planning and Finance, Union Minister Office, Order (60/2018).
In accordance with the EITI Standard 2019, Requirement 2.5.f.i, "A beneficial owner in respect of a company means the natural person (s) who directly or indirectly ultimately owns or controls the corporate entity."
Further to Requirement 2.5.f.ii and in accordance with the decision of the M- EITI Multi Stakeholder Group, a beneficial owner is defined as:
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