Commons Sense

House of Commons · Written Ministerial Statement

Update on the Implementation of the Register of Overseas Entities

26 April 2022 · Department for Business, Energy and Industrial Strategy

Proposed by Paul Scully Con Sutton and Cheam

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Summarised by AI from the official record, so it can contain mistakes.

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At a glance

Key points

  • The Government is updating the progress on the Register of Overseas Entities implementation.
  • Draft regulations will be laid for Parliamentary scrutiny to establish the legal framework.
  • Work is underway to develop the technical aspects of the Register.

Issue summary

The statement provides an update on the progress of implementing the Register of Overseas Entities, which is part of the Economic Crime (Transparency and Enforcement) Act 2022.

Action requested

The Government is working to develop the technical aspects of the Register and establish the legal framework through secondary legislation. Draft regulations will be laid for Parliamentary scrutiny as soon as possible.

Key facts

  • The Economic Crime (Transparency and Enforcement) Act 2022 received Royal Assent.
  • An Implementation Group has been established comprising officials from DBEIS, Companies House, and the UK Land Registries.
  • Draft regulations will be laid for Parliamentary scrutiny soon.
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