> For the complete documentation index, see [llms.txt](https://www.mica.wtf/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.mica.wtf/amlr/chapter-iv-beneficial-ownership-transparency-art.-51-68/60.md).

# Art. 60 — Identification of objects of a power and default takers in discretionary trusts

AMLR Article 60 — Identification of objects of a power and default takers in discretionary trusts. Regulation (EU) 2024/1624, Chapter IV — Beneficial ownership transparency.

In the case of discretionary trusts, where beneficiaries have yet to be selected, the objects of a power and default takers shall be identified. Beneficiaries among the objects of a power shall be beneficial owners as soon as they are selected. Default takers shall be beneficial owners when the trustees fail to exercise their discretion.

Where discretionary trusts meet the conditions laid down in [Article 59(2)](/amlr/chapter-iv-beneficial-ownership-transparency-art.-51-68/59.md), only the class of objects of a power and default takers shall be identified. Those categories of discretionary trusts shall be notified to the Commission in accordance with paragraph 3 of that Article.


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