⚠️ Urgent Regulatory Compliance Notice: Beneficial Ownership Filings

The Department of the Registrar of Companies under the Ministry of Trade, Commerce, Food Security and Co-operative Development has issued a strict notice urging all corporate entities to complete mandatory disclosures. • Key Requirement: All directors and secretaries of companies incorporated under the Companies Act, No. 7 of 2007 (or former laws) must submit beneficial ownership details. • Legal Provision: Mandated under Section 130H(1) of the Companies (Amendment) Act, No. 12 of 2025, which requires filing within six months of the Act’s operation date. • Final Deadline: 30 September. • Penalties for Non-Compliance: • Exposure to administrative penalties. • Criminal conviction carrying fines up to Rs. 1 million, imprisonment up to 10 years, or both.