Article 15 Exceptions to the access rules to beneficial ownership registers

In exceptional circumstances to be laid down in national law, where the access referred to in Articles 11(3) and 12(1) would expose the beneficial ownermeans any natural person who ultimately owns or controls a legal entity or an express trust or similar legal arrangement; to disproportionate risk of fraud, kidnapping, blackmail, extortion, harassment, violence or intimidation, or where the beneficial ownermeans any natural person who ultimately owns or controls a legal entity or an express trust or similar legal arrangement; is a minor or otherwise legally incapable, Member States shall provide for an exemption from such access to all or part of the personal information on the beneficial ownermeans any natural person who ultimately owns or controls a legal entity or an express trust or similar legal arrangement;. Member States shall ensure that such exemptions are granted on a case-by-case basis upon a detailed evaluation of the exceptional nature of the circumstances and confirmation that those disproportionate risks exist. The right to an administrative review of the decision granting an exemption and the right to an effective judicial remedy shall be guaranteed. A Member State that has granted exemptions shall publish annual statistical data on the number of exemptions granted and the reasons given and report the data to the Commission.

Exemptions granted pursuant to this Article shall not apply to obliged entitiesmeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; as referred to in Article 3, point (3)(b), of Regulation (EU) 2024/1624 that are public officials.