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2020 Jun
12

Recommendations on solutions of certain issues identified during the process of disclosure of beneficial owners of mining companies

Transparency International Anticorruption Center (TIAC) is a member of the civil society constituency of the multi-stakeholder group (MSG) of the Extractive Industries Transparency Initiative Armenia (EITI Armenia), jointly with which it is present a number of recommendations aimed at the solutions of certain issues identified during the process of disclosure of beneficial owners of mining companies. 

The document outlines issues identified in result of the review of declarations of beneficial ownership of companies exploiting and exploring metal mines as well as offers a number of legislative recommendations as solutions to said issues.

Recommendations refer to the implementation of a series of legislative changes required for ensuring the process of disclosure of beneficial owners, specifically with regard to issues pertaining to exemption from declaration, ownership structure and scope, data accessibility, oversight and liability and a number of other issues.  

The recommendations are available in English on the TIAC web site