Asked by: Lord Sikka (Labour - Life peer)
Question to the Foreign, Commonwealth & Development Office:
To ask His Majesty's Government what steps they are taking to ensure all UK Overseas Territories approve laws allowing access to company ownership data to those with a legitimate interest, as they committed to do by April 2025.
Answered by Baroness Chapman of Darlington - Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)
At the Overseas Territories Joint Ministerial Council (JMC) in November 2024, the Falkland Islands and Saint Helena committed to implement fully public registers by April 2025. The British Virgin Islands (BVI), Cayman Islands, Bermuda, Anguilla and Turks and Caicos Islands agreed to implement registers of beneficial ownership, accessible to those with a legitimate interest, by June 2025. It remains our expectation that the Overseas Territories and Crown Dependencies will ultimately implement fully public registers, such as those that are already in place in Gibraltar and Montserrat.
Every Territory is making progress towards these commitments and Foreign, Commonwealth and Development Office officials are in regular contact with counterparts in the Overseas Territories on their proposals for registers to ensure they meet the agreement made at JMC. The Cayman Islands has introduced an accessible beneficial ownership register. Officials are working together to ensure that this system offers the best possible level of transparency and accessibility.
The Minister of State, Stephen Doughty MP continues to raise this directly with elected leaders across the Overseas Territories including a recent conference call with all leaders and representatives - and has recently spoken to and written to the Premiers of a number of territories individually on this issue, and offered further assistance to the small number who remain off track from meeting their commitments.
Asked by: Lord Sikka (Labour - Life peer)
Question to the Foreign, Commonwealth & Development Office:
To ask His Majesty's Government whether they will suspend aid to Pakistan following terrorist attacks in India on 22 April.
Answered by Lord Collins of Highbury - Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)
The UK condemns terrorism in all forms and our thoughts are with those affected by the Pahalgam terror attack, their loved ones and the people of India. Until all the facts are established, we must not speculate on the nature of the attack. The UK has transitioned from a traditional aid relationship with Pakistan to a mutually beneficial partnership which underpins UK national interests, including in keeping us safe from irregular migration, terror threats and organised crime. Some of the technical assistance we provide through UK Official Development Assistance is integral to these efforts.
Asked by: Lord Sikka (Labour - Life peer)
Question to the Foreign, Commonwealth & Development Office:
To ask His Majesty's Government whether UK Crown Dependency and Overseas Territories permit incorporation of a company without official proof of identity of promoters, directors, and shareholders.
Answered by Baroness Chapman of Darlington - Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)
The Crown Dependencies (CDs) and Overseas Territories (OTs) are separate legal jurisdictions to the United Kingdom and responsible for their own domestic affairs including, in those CDs and OTs with provisions for financial services, the responsibility for regulation and company registry in their jurisdictions.
The Economic Crime and Corporate Transparency Act 2023 amends the Companies Act 2006 to mandate identity verification requirements for those setting up and controlling companies in the UK. This will apply to directors and PSCs (people with significant control) of existing companies and any new companies being incorporated. Companies registered in the CDs and OTs with a place of business or branch in the UK will also be required to have their directors and PSCs identities verified.
The UK Government is committed to working with international financial centres, including the CDs and OTs, to help tackle illicit finance, including increasing the transparency of their corporate beneficial ownership registers. The UK's ultimate expectation of the CDs and OTs remains fully public registers.
Asked by: Lord Sikka (Labour - Life peer)
Question to the Foreign, Commonwealth & Development Office:
To ask Her Majesty's Government what resources they provide for defending each of the (1) Crown Dependencies, and (2) British Overseas Territories; and what is the total cost of such resources.
Answered by Lord Ahmad of Wimbledon
It has not proved possible to respond to this question in the time available before Prorogation. The Minister will write directly to the Member with a response shortly.
Asked by: Lord Sikka (Labour - Life peer)
Question to the Foreign, Commonwealth & Development Office:
To ask Her Majesty's Government, following the announcement of an independent inquiry into the governance of the British Virgin Islands, what plans they have (1) to support the expansion of its terms of reference to include, and (2) to support any consideration of, the Islands' role in global tax avoidance and money laundering as part of the inquiry.
Answered by Lord Ahmad of Wimbledon
The Commission of Inquiry was established by the Governor of the British Virgin Islands (BVI) to investigate specific allegations where such an investigation would be in the interests of public welfare in the BVI. The Governor set the Terms of Reference as:
It will be for the Commissioner, Sir Gary Hickinbottom, to determine how best to carry out these Terms.