Sky Sec Beneficial Ownership for an NPC
As per the CIPC guidelines on Beneficial ownership filing.
An NPO does NOT need to have members , but if they do, these members are then considered to be BO who exercise control over the NPO.
The effective (percentage) control is determined by the number of votes that the member has in relation to the total number of members /votes.
In SkySec to record the members and the votes,
you must create a share class, share code can be MEMBER, description Members of NPO
The authorised is the total number of members that the NPO should / could have.
All other info eg capital, premium, consideration etc are ignored because it does not apply
You than “issue” shares to each member, the qty being the number of votes eg 1
You do this under shares in order to be able to generate the organogram and for the system to generate the ultimate beneficial ownership register.
You must also mark the client as other on Masters.
When you print the share info sheet, it will print the “shares” member list, as below
You will also be able to print the organogram and the beneficial ownership register, percentage being the control as described above
