Contributions
2,740 recent contributions in Hansard
HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)Before I turn to the new clause, I will set out the intentions and effect of the clauses in the group. As part of the reform of Companies House, it is necessary to update the…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)I think we need to move on, and I think the hon. Gentleman is missing the point as well. This is not about my deciding whether the proposal is right or wrong, or whether Companies…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)As I have already said, such information-sharing is exactly what the Bill facilitates. It may well be that Companies House decides that that is exactly the right trigger to share…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)The hon. Lady is intervening on me.03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)A change of directorship, yes, but I do not think that is the situation the right hon. Lady was describing. She was talking about a movement of assets, as I understand it. I do…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)I do not know the answer to that question. When the Bill has received Royal Assent, it will facilitate exactly that process. At the moment, Companies House does not have the…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)Two separate things are going on. The Bill enables regulations to ban corporate directorships unless the corporation itself has all its directors named and they are all actual…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)I am not sure I understand the hon. Gentleman’s point. Irrespective of who the directors are, if people of significant control are exerting such influence, they will have to be…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)I think the best way forward on that is for myself and the Minister for Security to have a conversation. We can set out some of the reasons why that is the case in more detail in…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)What we are talking about here is financial sanctions. These matters relate to companies and financial sanctions, not to travel sanctions. Let me explain these points further. Not…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)The point is that they may be or they may not be. Putting a broad ban in the Bill just because somebody is subject to a travel ban is not the appropriate way to do it, in terms of…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)Yes, that is right. What we are focusing on in the Bill is people who are subject to asset freezes, not travel bans. Hon. Members can argue that other people should be banned from…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)As I said in my explanation, for sanctions such as securities and money sanctions, those market instruments can affect entire populations; they do not just affect an individual.…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)I will go on to describe the categories. As the hon. Gentleman knows, an assets freeze is a type of financial sanction. Only those sanctions are relevant to someone’s ability to…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)It is a pleasure to see you in the Chair, Ms Elliott. Government amendment 1 is one of six amendments that the Government have tabled to clauses 32 and 34. Before I discuss the…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)It depends on how the right hon. Lady defines a shadow director. If she is implying that they are a person of significant control influencing others, which I guess is what she…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)That is exactly what I have already agreed to do. We will move on from that point, but, briefly, there will be instances where that person is not necessarily described as unfit or…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Eighth sitting)As an overriding point, we all know how important the integrity of the ID verification system is. I completely agree with that and we need there to be confidence in it. On the…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Eighth sitting)We debated the clause at length in the previous groupings. I do not propose to repeat the arguments, and I hope the Committee agree with the Government’s position.03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)I beg to move amendment 1, in clause 32, page 22, leave out lines 8 to 12 and insert— “(1) This section applies in relation to a person who has, at any time on or after the day on…03 Nov 2022