Beneficial Owners Register Act

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The beneficial owner register law (WiEReG) introduced the non-public directory of beneficial owner registers in Austria , in which the most important legally relevant facts and legal relationships from and about notifiable legal entities can be entered and queried.

Legal basis and structure

The law is essentially based on directives of the European Union and serves to implement them:

  • Directive (EU) 2015/849 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, amending Regulation (EU) No. 648/2012 of the European Parliament and of the Council and repealing Directive 2005/60 / EC of the European Parliament and Council and Commission Directive 2006/70 / EC, Articles 30 and 31, and
  • Council Directive (EU) 2016/2258 of 6 December 2016 amending Directive 2011/16 / EU on access by tax authorities to information on combating money laundering, Article 1.

The beneficial owner register law consists of 22 paragraphs and can be divided into regulatory sections:

  • Sections 1 to 2 Scope and Definitions
  • Sections 3 to 6 and 11 recording, due diligence and reporting obligations
  • §§ 7 to 14 Register management
  • Sections 15 and 16 criminal provisions
  • Sections 17 to 22 final and transitional provisions

Further legislative changes

With the creation of the beneficial owners register , a number of other legislative changes were connected, which were made in Articles 3 to 11 of the beneficial owners register law . So z. B .:

  • of the Financial Market Money Laundering Act
  • of the Financial Criminal Law
  • the notarial order
  • the Lawyers' Act
  • of the Foreign Exchange Act 2004
  • of the Banking Act
  • the federal tax code
  • of the Financial Market Authority Act
  • of the Energy Tax Remuneration Act

Entry into force and execution

The beneficial owners register law mainly came into force on January 15, 2018. The Federal Minister of Finance (registry authority) is entrusted with the implementation.

Web links

Individual evidence

  1. ↑ Directive (EU) 2015/849 . In: OJ. No. L 141, p. 73.
  2. ↑ Directive (EU) 2016/2258 . In: OJ. No. L 342, p. 1.