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While the Overseas Territories (OTs) and Crown Dependencies (CDs) are separate jurisdictions,
and are responsible for their own fiscal matters, we are working closely with them
on their role on company transparency. Our priority has been for them to establish
a central register of beneficial ownership information (or a similarly effective system)
where they do not already have one, and for UK law enforcement and tax authorities
to have full and automatic access to that information. Bilateral arrangements to this
effect have now been concluded with all the relevant OTs and with the CDs, and these
will enter into effect by June 2017. The registers will, with one exception, not be
public, but these measures will place our Crown Dependencies and Overseas Territories
well ahead of other similar jurisdictions and represent a significant step forward
in our ability to counter criminal activity.
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