(1) The indexing organization shall comply with Section 7C of the Act. According to the law, when identifying and investigating the real owner of a legal person or arrangement, other appropriate measures should be adopted in addition to the following bases:-
(a) the identity of the legal person or the ultimate natural person having control or ownership of the arrangement,
(b) According to Clause (a) there is no information regarding the person who has control or ownership or if there is confusion or ambiguity in this regard or whether there is any legal person or natural person who has control over the arrangement,
(c) If the person as per Clause (a) or (b) is not found, the identity of the said legal person or the main officer in charge of the arrangement.
(2) The reporting organization shall adopt the necessary and reasonable measures to identify the ownership and control structure of the legal person or arrangement and for that purpose shall also identify the following persons who may have control over them:-
(a) a legal person or a natural person who controls the management or has direct or indirect control over ten percent or more of its shares, other ownership, value or voting rights or its decisions,
(b) a legal person or a natural person managing an arrangement or acting similarly,
(c) a legal person or a natural person who can exercise control over the arrangement.
(3) When identifying the control over a legal arrangement such as a trust, the reporting organization shall identify the settlor, trustee, custodian, beneficiary and the natural person who controls it.
(4) When measuring the effectiveness of indirect ownership and control over a legal person or arrangement through a person, the reporting organization shall also do so on the basis of the following criteria:-
(a) Proportionate ownership of all in the case of shareholders, partners or beneficiaries,
(b) Proportional ownership of family members in case of family.
(5) The indicator organization may not identify the real owner in the following cases:-
(a) Listing on Securities MarketsIn the case of a legal entity, if it is certain that the real owner and the details of his share, control or interest will be made public in accordance with the law or can be sufficiently easily obtained,
(b) In the case of a legal entity listed in the securities market, its real wealth and the details of its shares, control or interest, including the details of its actions in accordance with the Act, if there is certainty that it can be made public in accordance with the law or can be sufficiently easily obtained and comply with international standards related to prevention of financial investment in money laundering and invasive activities. If it can be confirmed from the reports.