Contributions
2,740 recent contributions in Hansard
HANSARDEconomic Crime and Corporate Transparency Bill (Eighth sitting)What limit would the hon. Lady put on it?03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Eighth sitting)Yes, that is in clause 66. Further detail about the use and allocation of unique identifiers will be set out in regulations made via the affirmative procedure, so Parliament will…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Eighth sitting)It is only a matter of time. The hon. Lady cited the disturbing case, which I too read about, of Savaro Ltd in Beirut. It may be helpful for me to clarify how the clause as…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Eighth sitting)I am grateful to the hon. Lady for her amendment. Clause 49 requires companies to provide to the registrar a one-off snapshot of relevant membership information when the first…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Eighth sitting)I think I have noted all the points raised by the hon. Lady. She is absolutely right that, in future, the Secretary of State could, through regulations, elect for the collection…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Eighth sitting)A core purpose of the companies register is to provide details of company ownership. Users of the register, such as those who use it to confirm basic information about a company…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Eighth sitting)It is a pleasure to speak with you in the Chair, Mr Robertson. I am not quite clear when I will be able to get the information that we should have before we look at the matter in…03 Nov 2022HANSARDEconomic 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)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)I do not disagree with that, but my point was not that it would be too much work for the registrar; I never said that at all. My point was that may well be that the Companies…03 Nov 2022HANSARDEconomic Crime and Corporate Transparency Bill (Seventh sitting)That situation would be covered under the Bill because company naming is part of it. That is a different thing from what the right hon. Member for Barking was describing. She was…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)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)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)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)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 2022