The Board clarified the application of beneficial ownership requirements.
Decision on EITI Requirement 2.5
The EITI Board amended requirement 2.5.c to clarify the current ambiguity:
As of 1 January 2020, it is required that implementing countries request, and companies disclose, beneficial ownership information for inclusion in the EITI report. This applies to corporate entity(ies) that bid apply for, operate or invest in extractive assets or hold a participating interest in an exploration or production oil, gas or mining license or contract and should include the identity(ies) of their beneficial owner(s), the level of ownership and details about how ownership or control is exerted.
The terms ‘license’ and ‘contract’ are defined in requirement 2.4.
