360 Disclosure of beneficial ownership information

(1) In this section, a „relevant change“ in relation to a person occurs if —


(a) the person ceases to be a beneficial owner in relation to the
company; or

(b) any other change occurs as a result of which the registrable
particulars stated for the person in the company‘s register of
beneficial owners are incorrect or incomplete.


(2) Within 30 days of a person becoming a beneficial owner in relation to a
company he shall give written notice to the company of the registrable
particulars relating to him.

(3) If a relevant change occurs in relation to a person, he shall within 30 days
of the relevant change give written notice to the company of —

(a) the relevant change;

(b) the date on which it occurred; and

(c) any information needed to update the company‘s register of
beneficial owners.

(4) Within 30 days of a person receiving a notice given by the company under
section 359 he shall comply with such notice by providing in writing to
the company the information requested in the notice.

(5) No person shall provide false or misleading information pursuant to
subsections (2), (3) or (4).

(6) Subsections (2), (3) and (4) shall not apply in relation to a listed company.

(7) If a person contravenes subsections (2), (3) or (4) —

(a) he commits an offence and is liable on conviction to a fine not
exceeding US$50,000;

(b) any voting and distribution rights attaching to the relevant shares
or guarantee membership shall be suspended until such time as
full compliance with the contravened provisions has been made;
and

(c) any right to transfer or redeem the relevant shares or guarantee
membership shall be suspended until such time as full
compliance with the contravened provisions has been made.

(8) If a person contravenes subsection (5), he commits an offence and is
liable on conviction to a fine not exceeding US$50,000.