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1007162
registered interest false more like this
date less than 2018-11-14more like thismore than 2018-11-14
answering body
Home Office more like this
answering dept id 1 more like this
answering dept short name Home Office more like this
answering dept sort name Home Office more like this
hansard heading Companies: Ownership remove filter
house id 1 more like this
legislature
25259
pref label House of Commons remove filter
question text To ask the Secretary of State for the Home Department, what steps his Department has taken since the passing of the Sanctions and Anti-Money Laundering Act 2018 to encourage Crown dependencies to introduce public registers of beneficial ownership. more like this
tabling member constituency Oxford East more like this
tabling member printed
Anneliese Dodds more like this
uin 191478 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-11-19more like thismore than 2018-11-19
answer text <p>The Home Office leads on the Government’s relationship with the Crown Dependencies on beneficial ownership. The Crown Dependencies have confirmed they will develop public registers of company beneficial ownership once it has been established as a global norm.</p><p>The Government recently launched the global beneficial ownership transparency campaign to shift the global norms on beneficial ownership transparency by 2023.</p> more like this
answering member constituency Wyre and Preston North more like this
answering member printed Mr Ben Wallace more like this
question first answered
less than 2018-11-19T16:55:12.157Zmore like thismore than 2018-11-19T16:55:12.157Z
answering member
1539
label Biography information for Mr Ben Wallace more like this
tabling member
4657
label Biography information for Anneliese Dodds more like this
1327923
registered interest false more like this
date less than 2021-05-25more like thismore than 2021-05-25
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 more like this
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Companies: Ownership remove filter
house id 1 more like this
legislature
25259
pref label House of Commons remove filter
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the proportion of all registered companies in the UK which have not listed an ultimate beneficial owner; and if he will make a statement. more like this
tabling member constituency Birmingham, Hodge Hill more like this
tabling member printed
Liam Byrne more like this
uin 7105 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-06-03more like thismore than 2021-06-03
answer text <p>As of 1 April 2021, the proportion of all registered companies in the UK, having not listed an ultimate beneficial owner (Person of Significant Control) are 0.25% of the effective company register.</p> more like this
answering member constituency Sutton and Cheam more like this
answering member printed Paul Scully more like this
question first answered
less than 2021-06-03T15:39:48.103Zmore like thismore than 2021-06-03T15:39:48.103Z
answering member
4414
label Biography information for Paul Scully more like this
tabling member
1171
label Biography information for Liam Byrne more like this
1328103
registered interest false more like this
date less than 2021-05-26more like thismore than 2021-05-26
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 more like this
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Companies: Ownership remove filter
house id 1 more like this
legislature
25259
pref label House of Commons remove filter
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate his Department has made of the number of (a) companies and (b) individuals who have not complied with requirements to declare beneficial ownership; and how many sanctions have been levied against individuals or companies for non-compliance. more like this
tabling member constituency Birmingham, Hodge Hill more like this
tabling member printed
Liam Byrne more like this
uin 7743 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-06-11more like thismore than 2021-06-11
answer text <p>On 1 April 2021 the number of registered companies in the UK that had not complied with requirements to declare beneficial ownership, by not listing an ultimate beneficial owner (Person of Significant Control: PSC), was 11,107 (0.25% of the effective register). Between 01/04/19 and 31/03/2021, The Insolvency Service (which is responsible for prosecuting these offences) has achieved a total of 210 convictions, of which 91 companies and 119 directors were convicted for offences relating to the beneficial ownership of companies. Two of the convicted directors also received disqualification orders for a period of 3 years.</p><p> </p><p>Companies House is unable to offer an estimation of the individuals who have not complied with requirements to declare beneficial ownership. Until a company registers the details of the individual, or a statement declaring why no details have been provided, it has no indication for the cause of the non-compliance and cannot, therefore, provide a reliable estimate.</p><p> </p><p>In addition to the companies that have provided details of their Persons of Significant Control, there will be a proportion of compliant companies that have legitimately not provided details of their PSC. This is because either an exemption has been applied or a statement registered in accordance with law declaring why no details have been provided.</p>
answering member constituency Sutton and Cheam more like this
answering member printed Paul Scully more like this
question first answered
less than 2021-06-11T10:02:06.93Zmore like thismore than 2021-06-11T10:02:06.93Z
answering member
4414
label Biography information for Paul Scully more like this
tabling member
1171
label Biography information for Liam Byrne more like this
1351613
registered interest false more like this
date less than 2021-08-18more like thismore than 2021-08-18
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 more like this
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Companies: Ownership remove filter
house id 1 more like this
legislature
25259
pref label House of Commons remove filter
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to ensure the full disclosure of Ultimate Beneficial Owner status for all UK-registered businesses. more like this
tabling member constituency Islington South and Finsbury more like this
tabling member printed
Emily Thornberry more like this
uin 40766 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-09-09more like thismore than 2021-09-09
answer text <p>In June 2016, the People with Significant Control (PSC) register and regulations were introduced with the aim of delivering greater transparency around the ownership of UK corporate entities. Over 99% of entities have complied with their PSC filing requirements. The register is widely used, has a positive economic effect and contributes to the fight against the abuse of corporate structures.</p><p> </p><p>Between 1 April 2019 to 31 March 2021, 210 criminal proceedings were issued against companies and directors in connection with failure to comply with PSC requirements. 119 directors and 91 companies have been convicted.</p><p> </p><p>In October 2019, BEIS published a statutory post-implementation review of the PSC regulations which stressed the importance of ensuring the reliability of the PSC register information. With that in mind, the Government has made clear that it will legislate when Parliamentary time allows to require identity verification of PSCs a part of a broader programme targeted at further improving corporate transparency.</p>
answering member constituency Sutton and Cheam more like this
answering member printed Paul Scully more like this
question first answered
less than 2021-09-09T16:46:30.067Zmore like thismore than 2021-09-09T16:46:30.067Z
answering member
4414
label Biography information for Paul Scully more like this
tabling member
1536
label Biography information for Emily Thornberry more like this
1123688
registered interest false more like this
date less than 2019-04-29more like thismore than 2019-04-29
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 more like this
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Companies: Ownership remove filter
house id 1 more like this
legislature
25259
pref label House of Commons remove filter
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, how many exemptions have been made under the people with significant control register; and for what reasons those exemptions have been made. more like this
tabling member constituency Glasgow Central more like this
tabling member printed
Alison Thewliss more like this
uin 248713 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-05-07more like thismore than 2019-05-07
answer text <p>As at 30 April 2019, 836 live companies were exempt from the requirements to file information about their People with Significant Control. This is because they are subject to other disclosure requirements due to their voting shares being admitted to trading on a regulated market in the UK or EEA, or on markets listed in Schedule 1 to the Register of People with Significant Control Regulations 2016.</p><p> </p><p>Exemptions can also be granted in very limited circumstances, in the interests of national security, the economic wellbeing of the UK, or in the support or prevention or detection of serious crime. I refer the hon. Member to the Written Ministerial Statement made on 26 January 2016, <a href="https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2016-01-26/HCWS488/" target="_blank">HCWS488</a>, which set out the circumstances in which such exemptions would be granted.</p><p><strong><br> </strong></p><p> </p> more like this
answering member constituency Rochester and Strood more like this
answering member printed Kelly Tolhurst more like this
question first answered
less than 2019-05-07T16:05:18.13Zmore like thismore than 2019-05-07T16:05:18.13Z
answering member
4487
label Biography information for Kelly Tolhurst more like this
previous answer version
116369
answering member constituency Rochester and Strood more like this
answering member printed Kelly Tolhurst more like this
answering member
4487
label Biography information for Kelly Tolhurst more like this
tabling member
4430
label Biography information for Alison Thewliss more like this