 |
answer text |
<p>It is important to note that the Crown Dependencies are self-governing jurisdictions
with their own legislative assemblies, administrative, fiscal and legal systems and
courts of law. They have confirmed they will develop public registers of company beneficial
ownership once it has been established as a global norm.</p><p>In October 2018 the
UK Government launched an international beneficial ownership transparency campaign
to shift global norms by encouraging and supporting more countries to implement free
to access and publicly available company beneficial ownership registers by 2023. In
line with this campaign, the UK Government will encourage the Crown Dependencies to
voluntarily introduce measures to improve the transparency of their company ownership.</p><p>Similarly,
the Overseas Territories are self-governing jurisdictions. However, in accordance
with the Sanctions and Anti-Money Laundering Act 2018, the UK Government will prepare
an Order in Council by the end of 2020 requiring all Overseas Territories to have
fully functioning publicly accessible registers in place by the end of 2023. The UK
Government will work consensually with the Overseas Territories on introducing publicly
accessible registers, which includes through technical workshops.</p>
|
|
