Contributions
2,740 recent contributions in Hansard
HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)The clauses that we will now debate in part 3 of the Bill make amendments to the Economic Crime (Transparency and Enforcement) Act 2022, which establishes the register of overseas…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)To set the context, clause 131 permits the application of company law to limited partnerships where that provision of company law is similar to, or corresponds to, limited…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)I beg to move amendment 42, in clause 131, page 120, line 18, leave out “any Act, whenever passed or made” and insert “either of the following, whenever passed or made— (a) an…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)Clause 130 specifies how documents may be served at the registered office for the purposes of the Limited Partnerships Act. The clause is necessary to ensure that the registrar or…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)Clause 129 simply introduces two false statement offences—basic and aggravated— into the Limited Partnerships Act. The offences mirror those in the Companies Act and the Economic…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)We have debated the same issue at length on a number of occasions. We feel they are proportionate powers to hand the Secretary of State and will be used very rarely. Question put…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)Clause 128 is another simple clause. It ensures that key documents pertaining to limited partnerships can be submitted only by an authorised corporate service provider. I have…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)That is a fair point. Off the top of my head, I would say that that might be a red flag and the registrar would look in more detail into the parties related to the deregistration,…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)On the hon. Lady’s point of clarification, it is after the six-month period. On the hon. Lady’s latter point, about the dissolution of a company, will she clarify what question…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)Clause 125 will allow the registrar to confirm that a limited partnership is dissolved where she has reasonable cause to believe that it is, and to remove the name of the…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)The quick answer to the hon. Gentleman’s comment is that we believe in people using their judgment. The registrar, who we believe to be a competent person, should use her judgment…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)Clause 122 will prevent personal or confidential information, such as a partner’s residential address and date of birth or a limited partnership’s email address, from being…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)As the hon. Lady sets out, the reason for some information not being made public is security—to prevent ID theft, for example. Throughout the Bill, we are giving the registrar…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)In terms of the situation with Scotland, it can be confusing for third parties—it might be a bank, for example; opening a bank account—to understand the difference between a…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Fourteenth sitting)Section 27 of the ECTE Act allows the registrar to require an overseas entity to resolve an inconsistency in information delivered to her where it appears to be inconsistent with…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)I do not see there being a risk of a lack of communication; they seem to be working together adequately. There is no doubt that some information is out of date. Many overseas…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)Clause 134 omits section 17 of the Limited Partnerships Act 1907, which gives a power to the Board of Trade to make rulings relating to the registrar’s functions, including…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)On new clause 48, it is of course right that Companies House should have the necessary powers to investigate wrongdoing by limited partnerships. I am fully signed up to improving…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)Just to clarify, my argument was not that smaller numbers of limited partnerships are being set up and therefore the risk is less. It is quite the opposite: we know that limited…17 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Thirteenth sitting)I am happy to provide that clarification. I thank the right hon. Member for Barking, who is not present today, for her amendment. The measures in part 2 are intended to tackle the…17 Nov 2022