Sanctions and Anti-Money Laundering Bill [HL] — Report (2nd Day) — 17 Jan 2018 at 19:00

Moved by Baroness Stern

73: After Clause 41, insert the following new Clause-“Public registers of beneficial ownership of companies in the British overseas territories(1) For the purpose of preventing money-laundering, the appropriate Minister must provide all reasonable assistance to the governments of-(a) Anguilla;(b) Bermuda;(c) the British Virgin Islands;(d) the Cayman Islands;(e) Montserrat; and(f) the Turks and Caicos Islands,to enable each of those governments to establish a publicly accessible register of the beneficial ownership of companies registered in that government’s jurisdiction.(2) No later than 1 January 2020 the appropriate Minister must prepare an Order in Council, and take all reasonable steps to ensure its implementation, in respect of any British overseas territories listed in subsection (1) that have not by that date introduced a publicly accessible register of the beneficial ownership of companies within their jurisdiction, requiring them to adopt such a register.(3) In this section a “publicly accessible register of beneficial ownership of companies” means a register which, in the opinion of the appropriate Minister, provides information broadly equivalent to that available in accordance with the provisions of Part 21A of the Companies Act 2006 (information about people with significant control).”

Ayes 201, Noes 211.

Debate in Parliament |