New Clause 5 - Reviews of Economic Crime (Anti-money Laundering) Levy

Finance (No. 2) Bill – in the House of Commons at 5:15 pm on 1st December 2021.

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Votes in this debate

‘(1) The Government must publish a review of the operation of the Economic Crime (Anti-Money Laundering) Levy by 31 December 2027.

(2) The Government must publish on 31 December each year until the establishment of a register of beneficial owners of overseas entities that own UK property—

(a) an assessment of the contribution to the effectiveness of the Levy that such a register would make; and

(b) an update on progress toward implementing such a register.’—(James Murray.)

This new clause will put into law the Government’s commitment to undertake a review of the Levy by the end of 2027, and require them to publish an assessment every year until a register of beneficial owners of overseas entities that own UK property is in place an assessment of what impact such a register would have on the effectiveness of the Levy, and progress toward the register being established.

Brought up, and read the First time.

Question put, That the clause be read a Second time.

Division number 128 Finance (No. 2) Bill — New Clause 5 - Reviews of Economic Crime (Anti-money Laundering) Levy

Aye: 209 MPs

No: 301 MPs

Ayes: A-Z by last name

Tellers

Nos: A-Z by last name

Tellers

Abstained: 2 MPs

Abstaineds: A-Z by last name

The Committee divided: Ayes 212, Noes 306.

Question accordingly negatived.