| answer text |
<p>The Government has decided that the most effective way to achieve the required
level of transparency on overseas entity beneficial ownership is to require information
about beneficial ownership as a condition of awarding contracts that meet certain
conditions or thresholds, and that this will enable the public and interested parties
to easily identify the beneficial owners of entities awarded central government contracts.
The information about beneficial ownership that will be required, will be equivalent
to that proposed for the Register of Overseas Entities, and it will be published in
an equally transparent way.</p><p><br></p><p>The Government is currently considering
mechanisms including the Contracts Finder service (currently used to publish contract
award information) to achieve this. A financial threshold for applying the policy
on publishing beneficial ownership information has not yet been decided and will be
subject to a Government consultation.</p>
|
 |
