Section 89 - Declaration in respect of beneficial interest in any share

Beneficial interest disclosure requires prescribed declarations and company filing, with penalties for non-compliance.

Persons registered as shareholders who lack beneficial interest and persons holding beneficial interest must make prescribed declarations identifying the beneficial owner or registered holder; changes in beneficial interest must be declared within thirty days. Companies must record such declarations and file prescribed returns with the Registrar within thirty days. Statutory penalties apply for failures to declare or to file, enforcement of rights is barred where declarations are not made by the beneficial owner, and the statute defines beneficial interest to include rights to exercise share rights or receive distributions, while permitting government rules and exemptions.