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971330

	registered interest
	date	10/09/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Companies: Ownership
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Minister for the Cabinet Office, pursuant to paragraph 11 of his consultation document on the draft Register of Overseas Entities Bill relating to information for the public register on the beneficial ownership of companies that bid for public contracts, what thresholds he is considering for those contracts.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	172509
	answer	answer is ministerial correction date of answer 14/09/2018 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> answering member constituency Hertsmere answering member printed Oliver Dowden grouped question UIN 172510 question first answered 14/09/2018 11:11:12 answering member 4441 label Biography information for Oliver Dowden
	tabling member	4061 label Biography information for Bill Esterson

971331

	registered interest
	date	10/09/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Companies: Ownership
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Minister for the Cabinet Office, pursuant to paragraph 11 of his consultation on the draft Register of Overseas Entities Bill and the information for the public register on beneficial ownership of companies that bid for public contracts, what conditions he is considering for those contracts.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	172510
	answer	answer is ministerial correction date of answer 14/09/2018 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> answering member constituency Hertsmere answering member printed Oliver Dowden grouped question UIN 172509 question first answered 14/09/2018 11:11:12 answering member 4441 label Biography information for Oliver Dowden
	tabling member	4061 label Biography information for Bill Esterson