After months of arm wrestling with the Master of the High Court to simplify the submission of Beneficial Ownership Returns, they’ve now done an about face.

So, while we were forced to jump through hoops in the past, these returns are now being done automatically by their internal system.

All well and good. But really? The whole point of Beneficial Ownership for companies and for trusts is to force disclosure of the true beneficial owners (aka the Guptas) as opposed to the frontmen. The Master has missed this point completely, but who cares? Do you think the hidden controllers of trusts and companies would disclose themselves? Not likely!