Contributions
2,740 recent contributions in Hansard
HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)I think the hon. Gentleman asked me to address two points. First, he asked how we will ensure that the documents filed are accurate. That goes back to the risk-based approach that…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)I fully recognise the concerns expressed across the Committee about our oversight of corporate service providers. As I say, we should not mix up the many bone fide companies and…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)I am keen to make sure that the system works, whether by licensing or by some other means. There are lots of different options for what might be described as a system that is fit…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)Clause 68 amends section 1025 of the Companies Act 2006 to require that outstanding fines or financial penalties must have been paid for a company that has been previously struck…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)We are on the same page about ensuring that the system is fit for purpose. It is difficult for me to do a review when the Treasury itself is doing one and is probably better…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)Perhaps it might not be as ambitious as me, but it certainly has access to detailed information and the resources to properly conduct the review. The Treasury should be allowed to…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)I beg to move amendment 9, in clause 65, page 55, line 3, at end insert “and section 167M(2) does not impose any obligation on a company in relation to the person”. This amendment…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)It is a pleasure to serve with you in the Chair, Ms Bardell. Amendment 9 is a technical amendment. Clause 65 enables the Secretary of State to exempt a person from identity…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)Perhaps I could give the hon. Lady some examples of the kinds of individuals the exemption might apply to. We expect the exemption to be used on very rare occasions, for…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)I am happy to reflect on that and have further discussion. As the hon. Lady and other Members know, I am keen for Parliament to have scrutiny of any measures that we introduce. We…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)I think that we are trying to achieve the same thing, just in different ways. We discussed this issue at length in previous sittings. Companies House is already actively working…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)Addresses are not covered by the amendment, although we discussed the verification of addresses at length the other day. We think we have struck a fair balance in terms of a…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)There is only one.08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)Yes, they will. That is exactly what the Bill provides. It is a mandatory provision, including the regulations under the power contained in section 1082 of the Companies Act.…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)I beg to move amendment 10, in clause 67, page 56, line 3, after “subsection (1)” insert “— (a) in the words before paragraph (a), after ‘not’ insert ‘, so far as it forms part of…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)As I said in my remarks, anyone delivering an application to strike off a company to the registrar would have to verify their identity. I do not see how that is not clear.08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)On the hon. Lady’s legitimacy argument, as I said, we can understand that there might be a case about liquidators. We have committed to look at that. It is much more difficult in…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)We are in total agreement—violent agreement—which is great. The hon. Lady made a point about shadow directors. There are all kinds of ways in which a nefarious individual can…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)The hon. Lady makes a good point. I do not know the detail behind that, but I am happy to go away and look at that for her. Question put and agreed to . Clause 72 accordingly…08 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Ninth sitting)Clauses 76 to 79 support the Bill’s overarching ambition to broaden the powers of the registrar to maintain the integrity of the register. Clause 76 provides a new power to reject…08 Nov 2022