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<p>The draft Registration of Overseas Entities bill was published on 23 July 2018.
The Joint Committee for the draft bill carried out pre-legislative scrutiny earlier
this year, with the Government publishing its response to the Committee’s report and
recommendations on 18 July 2019. In the response, the Government accepted a number
of the Committee’s recommendations and has been considering other recommendations
to ensure that the legislation is as effective as possible in tackling the use of
UK property for the purpose of money laundering.</p><p> </p><p>It is essential that
the new requirements are workable, proportionate and that the register strikes the
right balance between improving transparency and minimising burdens on legitimate
commercial activity. The Government intends to introduce the bill when parliamentary
time allows.</p>
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