Anti-corruption Strategy - Question

Part of the debate – in the House of Lords at 3:02 pm on 10 July 2017.

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Photo of Lord Young of Cookham Lord Young of Cookham Lord in Waiting (HM Household) (Whip), Lords Spokesperson (Cabinet Office) 3:02, 10 July 2017

I am grateful to my noble friend, who played a significant role when the then Criminal Finances Bill was going through the House in ensuring that we had the unexplained wealth orders in the right shape. That legislation hit the statute book on 27 April. We are now preparing statutory guidance, subject to the affirmative procedure order, and introducing new court rules and training for officials so that we get the orders in good shape before they are introduced. We remain committed to a register of beneficial ownership of foreign companies that own or acquire property in this country. Good progress is being made. BEIS submitted a consultation document earlier this year, and it is now analysing the responses. I say to my noble friend that we are determined to honour the commitment to introduce such a register.