Executive Decree No. 23-429 dated 29 November 2023: Mandatory Declaration of Beneficial Owners Following the recent publication of Executive Decree No. 23-429 dated 29 November 2023, relating to the public register of beneficial owners of Algerian legal entities, we wish to draw your attention to the following key provisions: Mandatory Declaration: Algerian legal entities are henceforth required to carry out a mandatory declaration of their beneficial owners. Such information will be recorded in a dedicated register maintained by the National Centre of the Trade Register (“CNRC”). Exemption: Algerian legal entities wholly or majority-owned by the State, as well as public legal entities, are exempt from the obligation to declare their beneficial owners. Compliance Deadline: Algerian entities established prior to the publication of the decree must comply with its provisions within a period of one (01) year from its publication in the Official Gazette, namely no later than 30 November 2024. Failure to comply with this obligation may give rise to sanctions in accordance with the applicable legislative framework, notably Law No. 05-01 dated 6 February 2005, as amended and supplemented, relating to the prevention and combating of money laundering and terrorist financing. We remain at your disposal should you require any further information.