Contributions
1,153 recent contributions in Hansard
HANSARDFinancial Services Bill (Sixth sitting)I do not want to force the Minister to go over the same ground again and again, but I am just trying to fully understand this. He used a phrase something like “the clause allows…24 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)I am sure it is; your weather is certainly better. I have no further questions. Thank you very much, Minister.19 Nov 2020HANSARDFinancial Services Bill (Third sitting)Q May I come to your specific suggestions? You submitted written evidence that focuses on a suggestion for an amendment to the Bill on the prevention of economic crime. Could you…19 Nov 2020HANSARDFinancial Services Bill (Third sitting)Q I have a couple of questions, and my colleagues might too. There are quite a lot of different parts to this, and I want to ensure that I understand properly what you are saying.…19 Nov 2020HANSARDFinancial Services Bill (Third sitting)Q The other part I want you to explain a little more is that you said that small and large companies are treated differently under the law as it stands, and you implied that there…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q I had a further thought on the question of tax advantage. A quick search tells me that Gibraltar’s corporation tax level is 10%. There may be some caveats around that—it was a…19 Nov 2020HANSARDFinancial Services Bill (Third sitting)Q So there is almost an incentive for the board to be in ignorance, because that is a legitimate defence when wrongdoing is exposed in the company. Is that what you are saying? Dr…19 Nov 2020HANSARDFinancial Services Bill (Third sitting)Q The final question I want to ask you is about what you said about equivalence. We had a series of bodies give evidence to us the other day, all of which said that they had no…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q Thank you, Dr Huq, and thank you, Duncan, for coming. Let me first ask a broad question. On transparency, when you look at the regulators’ duties as changed by the Bill, do you…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q Do you want to see more duties on companies or do you think that, at least on paper, the duties on companies in terms of corporate declarations and so on are currently fit for…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Thank you very much. I don’t have any further questions.19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q Okay. Is there a particularly good reason for creating this sort of regime for Gibraltar, but not having something similar for, say, the Channel Islands, the Isle of Man or…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q Is there any tax advantage to being located in Gibraltar? Hugh Savill: I will have to let you know on that point. I believe there is a small value added tax advantage, but I…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q Can I go back to the issue of Gibraltar? Gibraltar has lots of friends across the parties in Parliament, and the Bill sets out a special regime for Gibraltar. Given the generous…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q Good afternoon, Hugh. I want to follow on from the questions that the Minister asked you. I think it is fair to say that ABI has been a part of the financial services sector…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q We had a witness this morning from Spotlight on Corruption, who argued for the addition of a “failure to prevent economic crime” measure to the Bill at the appropriate place. Is…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q I suspect if we got into this in Committee, on Report or wherever, the counter-argument would be, “Look, the Law Commission has just launched this great consultation, and we…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q In terms of potential amendments to the Bill, that would be top of your list. Are there any other areas that you think could usefully be amended or added to? Duncan Hames: I…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Q The last thing I wanted to ask you is about the most recent FinCEN files. This all comes out through the United States authorities. We find out about the actions of British…19 Nov 2020HANSARDFinancial Services Bill (Fourth sitting)Thank you. I will stop there.19 Nov 2020