Commons Sense

Hansard-based summaries and metrics

<-- Back to proposed bills

Update on the Implementation of the Register of Overseas Entities

26 April 2022

Proposing MP
Paul Scully Con
Sutton and Cheam
Type
Written Ministerial Statement
Department
Department for Business, Energy and Industrial Strategy
View on Parliament.uk -->

At a Glance

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.
▸ Assessment & feedback
Summary accuracy