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<p>At the Joint Ministerial Council on 28-29 November, the Minister for the Overseas
Territories (OTs), Lord Ahmad of Wimbledon, and leaders of the OTs welcomed progress
made by those OTs with financial services centres in implementing the arrangements
set out in the Exchange of Notes on exchange of beneficial ownership information.
They committed, where not already achieved, to expedite work to ensure that the new
systems were fully operational and populated.</p><p>Foreign and Commonwealth Office
officials also recently discussed progress on the establishment of beneficial ownership
systems with representatives of the Governments of Anguilla, the Turks and Caicos
Islands (TCI) and Montserrat. We are finalising with the Government of Anguilla a
Memorandum of Understanding on the terms for the provision of UK support for the establishment
of their beneficial ownership system. TCI Representatives have confirmed that their
Financial Services Commission is at the testing stage for its new central register.</p><p>Representatives
of Montserrat have confirmed that a Bill requiring legal entities to hold beneficial
ownership information and to submit it for inclusion in Montserrat's existing public
central register will have its first reading in Montserrat's Legislative Assembly
on 19 December 2017. The target date for the addition of beneficial ownership information
to the existing register is 1 April 2018.</p>
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