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    Posted By : Shreya Maheshwari / Published on : 22-Jul-2019 11:36 AM / View : 1176 / Comment : 0

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    Kindly Guide

    1. A person acting together: Husband and wife assumed to have been acting together being trustees of a trust or they can be trustees and SBO’s different from each other? If they are assumed to act together, how will we present their holdings in the SBO form? If they are not acting together can a note affix in the form explaining their situation suffice?

    2. In case of a discretionary trust, are all the trustees taken into consideration or just one? Because when we take all their holding exceed more than 100%. Do we need to attach an explanatory note describing their shareholding?

    3. In the case of body corporate being a holding company of another body corporate, if there are only 2 shareholders who are husband and wife holding 50% each. Who will be the Beneficial Owner?

    4. For holding and reporting Company, is it mandatory to report the SBO of holding reporting Company for all levels of a subsidiary? Or just an immediate level subsidiary?

    5. In case of Joint holders, who will be the SBO? Or both can file the SBO?

    6. Do we have to attach BEN-1 of the ultimate holding company in case of a subsidiary? If no, what to attach since attachment is mandatory?

    Thank you!!!

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