S.L. 331.10 Art. 6ARequests for access to the beneficial ownership informationbased on a legitimate interest and the decision taken by the Authority. 

(1) Without prejudice to regulation 6(7), natural and legal persons who can demonstrate a legitimate interest in accordance with regulation 6(1c), and are unable to use electronic means, may also submit a request for access to information on the beneficial owners of an express trust held by the Authority in writing, in other formats.

(2) A request to be granted access to information on the beneficial ownership of an express trust on the basis of a legitimate 

interest claim in accordance with regulation 6(1c) shall be verified by the Authority, and in order to carry out such verifications, the Authority may request documents, information and any other data from the applicant:

Provided that a legitimate interest may be satisfactorily demonstrated if the person requesting such access can prove that the interest specifically and solely relates to and shall contribute to the prevention, detection and combating of money laundering or the associated predicate offences, or the financing of terrorism, and shall be justified on the basis of previous activities and a proven track record of actions in such field, by means of relevant documentary evidence.

(3) For the purposes of the Authority’s verification in accordance with sub-regulation (2), the Authority shall take into consideration the function or occupation of the applicant and with the exception of persons referred to in regulation 6(1c)(a) and (b), the connection with the specific trust, its trustee or trustees, or any of its other beneficial owners whose information is being sought:

Provided that for the purpose of such verification, the applicant shall provide identification details, supported by identification documents certified as authentic, details on the function or occupation, and any other information or any relevant documentary evidence the Authority may deem necessary, in the manner and form as may be prescribed by the Authority from time to time:

Provided further that the Authority may seek guidance from or consult with any competent authority as may be deemed necessary in order to make such a determination.

(4) The Authority shall, following receipt of a request in accordance with this regulation, as well as any supporting information and documentation, as may be required to its satisfaction, notify the applicant of the Authority’s decision within twelve (12) working days:

Provided that in the case of a sudden high number of requests, the deadline for providing a response to the applicant may be extended by twelve (12) working days, and if after the extension has lapsed, the number of incoming requests continues to be high, the said deadline may be extended by a further twelve (12) working days. The Authority shall inform the European Commission of any extension in a timely manner.

(5) Where the Authority decides to grant access to beneficial ownership information in accordance with this regulation, it shall issue a certificate granting such access for three (3) years, and the Authority shall respond to any subsequent request to access beneficial ownership information by such person within seven (7) working days.

(6) Where access to information is requested by an applicant in accordance with this regulation and whose legitimate interest has already been verified by the central register of another European Union Member State, it is sufficient if such applicant provides proof of the legitimate interest issued by the central register of that European Union Member State:

Provided that the Authority may verify the authenticity of the documentation submitted in support of this claim, and upon being satisfied with such proof, the Authority shall allow access to (REGISTER OF BENEFICIAL OWNERS)

persons verified as having a legitimate interest in accordance with this regulation, without the need to assess their function or occupation whenever accessing the information:

Provided further that with the exception of applicants referred to in regulation 6(1c)(a) and (b), the Authority shall assess the connection with the specific trust for which information is being sought, in all cases, for the purposes of its determination of the existence of legitimate interest.

(7) The Authority shall allow repeated access to persons verified as having a legitimate interest in accordance with this regulation, without the need to assess their function or occupation whenever accessing the information:

Provided that the Authority shall be able to repeat the verification of the function or occupation from time-to-time and in any case, not earlier than twelve (12) months after granting access, unless the Authority has reasonable grounds to believe that the legitimate interest no longer exists.

(8) The Authority shall verify the identity of the persons accessing the register of beneficial owners of express trusts whenever they access the register, including where applicable, through the use of electronic identification means and relevant qualified trust services as established in Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC.

(9) Persons who have been granted access in accordance with this regulation shall notify the Authority of changes that may trigger the cessation of a valid legitimate interest, including but not limited to any changes concerning their function or occupation.