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