Disagreements in the Unified State Register: the order of notification to the Ministry of Justice has appeared

From October 1, 2023, the order of the Ministry of Justice of Ukraine dated July 12, 2023 No. 2542/5 enters into force. This order regulates the procedure for notifying the Ministry of Justice, as the holder of the Unified State Register of Legal Entities, Individual Entrepreneurs, and Public Organizations, about the detection of discrepancies between the information received from the subject of primary financial monitoring and the data placed in the Unified State Register regarding ultimate beneficial owners (UBO) and/or ownership structure of a legal entity.

This order also determines the procedure for notifying state authorities, law enforcement agencies, and other interested parties (if this information relates to their actions) to the Ministry of Justice about identified discrepancies regarding information about the ultimate beneficial owners and/or the ownership structure of a legal entity.

The document identifies various types of possible discrepancies that may arise regarding the ultimate beneficial owners and/or the ownership structure of legal entities, including incomplete information, inaccuracies, lack of information and other anomalies.

The main purpose of this Procedure is to ensure the accuracy and reliability of information in the Unified State Register of Legal Entities, Individual Entrepreneurs and Public Organizations. This is an important step in ensuring transparency and effective financial monitoring in Ukraine.