Page 18 - Nexia SAB&T Trust Guide 2024

access for trustees to lodge and update information, upload documents and sign
off on the information. This register is already available on the website of the
Master of the High Court.

■ Both the trustees and the Master are required to provide access to this
information regarding beneficial ownership
■ the Amendment Act provides, inter alia, that:
(a) both the trustees and the Master must make the information
contained in the register available to any person as prescribed
after consultation with the Minister of Finance and the Financial
Intelligence Centre.

In terms of the Regulation 3E, access to such information is restricted
to various government bodies such as the National Prosecuting
Authority, the Independent Police Investigative Directorate, State
Security Agency, the Intelligence Division of the National Defence
Force, a Special Investigating Unit, the South African Revenue Service,
the Financial Intelligence Centre and such other bodies as named
in the Regulations. Access could also be granted to a person who is
entitled to receive such information in terms of other legislation –
these entities would have to request access in writing providing proof
that they qualify and designate officials who will have access. The
Regulations do not provide for the Master to request feedback or input
from the trustees in question, before providing such access.

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