Companies: Ownership

Business, Innovation and Skills written question – answered on 25th June 2014.

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Photo of Naomi Long Naomi Long Alliance, Belfast East

To ask the Secretary of State for Business, Innovation and Skills what steps his Department is taking to ensure that the proposed beneficial ownership registry identifies the real controlling parties of all companies listed.

Photo of Jennifer Willott Jennifer Willott The Parliamentary Under-Secretary of State for Women and Equalities, Assistant Whip (HM Treasury), The Parliamentary Under-Secretary of State for Business, Innovation and Skills

The Small Business, Enterprise and Employment Bill will make provision for the implementation of a central registry of company beneficial ownership information. The legislation will set out the obligations and sanctions that will apply to companies and others to ensure that the central registry contains information on the ultimate owners and controllers of UK companies.

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