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N$10 million fine or 10-year imprisonment for knowingly providing false ownership details for CCs
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N$10 million fine or 10-year imprisonment for knowingly providing false ownership details for CCs

Business Reporter IN line with efforts to avoid Namibia being greylisted by the Financial Action Task Force (FATF), Parliament this week issued new changes to the Close Corporations (CC) Amendment Act Bill, which will impose a fine not exceeding N$10 million and/or 10 years’ imprisonment for individuals/companies knowingly withholding information about the beneficial owners of...