Ongoing requirements for a Reporting Body
While there is no requirement to file a transparency report annually, there are some ongoing requirements under LOTA.
Change of interest holders or determination of incapacity (Section 16)
Under section 16, a reporting body must file a new transparency report within two months of becoming aware that
- the previously filed transparency report no longer discloses the current interest holders, or
- a determination of incapacity referred to in section 22 of LOTA has been made in respect of an interest holder or settlor.
Visit LTSA account help to learn how to file a stand-alone transparency report.
Correcting information in a previous filed transparency report (Section 17)
A reporting body may file a new transparency report under section 17 at any time the reporting body considers it necessary in order to correct or complete information contained in a previously filed transparency report.
Visit LTSA account help to learn how to file a stand-alone transparency report.
Corporation, trust or partnership ceases to be relevant corporation, trust or partnership (Section 17.1)
Under section 17.1, a registered owner of an interest in land who has previously filed a transparency report, must give notice to the Administrator if that registered owner ceases to be a relevant corporation, relevant trust or relevant partnership. Notice must be given within two months of the change.