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Persons with significant control in an RMC

The RMC a bare trust has not reported 93 beneficiaries individually registered titleholders

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The RMC the landlord is  lessee owned according to Articles.  Each beneficiary owns equitable and legal title separately registered titleholder with registered  underlease with the RMC holding superior lease. The Co. Secretary is not authorised as not a lessee has not reported 93 beneficiaries as persons with significant control.  The RMC is a bare trust bearing no liability, and the 93 beneficiaries are liable for all covenants and debts. Does anyone have any thoughts on the consequence falling on the beneficiaries.


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