S.L. 386.19 Art. 7EOngoing obligations of persons granted accesstobeneficial ownership. 

(1) The natural or legal person who has been granted access to information about the beneficial owners of a company in accordance with regulation 7 shall confirm on an annual basis to the

Registrar that he still has a legitimate interest and shall update his profile, where necessary. The Registrar shall be able to repeat the verification process and where he has reasonable grounds to believe that the legitimate interest no longer exists, the Registrar shall revoke the certificate.

(2) The natural or legal person who has been granted access to information about the beneficial owners of a company in accordance with regulation 7 shall notify the Registrar within three (3) working days of any changes that may trigger the cessation of a valid legitimate interest, including changes concerning their function or occupation. If the Registrar becomes aware that such person has failed to inform the Registrar, this shall result in a penalty of five thousand euro (€5,000) and the person concerned shall not be granted access to information on the beneficial owners of a company for a minimum period of three (3) years.