Sanctions and Anti-Money Laundering Bill [Lords]

Debate between Alan Duncan and John Glen

3rd reading: House of Commons & Report stage: House of Commons
Tuesday 1st May 2018 Commons Chamber

[Sir Alan Duncan]

I will indeed.

We have had spirited discussions on many aspects of the Bill, both on the Floor of the House and in the Public Bill Committee. I thank in particular the Bill team, who have given up pretty much a year of their lives to work on every dot, comma and detail of the legislation. They have been dutiful, punctilious and hard-working. They have been burning the midnight oil and have put up with my occasional tetchiness—

[John Glen]

Really?

[Sir Alan Duncan]

Yes, really.

Sanctions and Anti-Money Laundering Bill [ Lords ] (Fifth sitting)

Debate between Alan Duncan and John Glen

Tuesday 6th March 2018 Public Bill Committees

[The Economic Secretary to the Treasury (John Glen)]

As the hon. Lady says, clause 44 fulfils a Government commitment made at an earlier stage of the Bill in response to a call for clarity on our intentions for the delivery of a separate anti-corruption policy. My noble Friend Lord Ahmad of Wimbledon committed us to reporting on progress made on our policy to create a register of beneficial owners of overseas entities that own or buy property in the UK or that participate in UK Government procurement. We are committed to the register being operational in 2021.

The clause requires the Secretary of State to publish and lay before Parliament three reports on the progress made towards putting the register in place, each of which will be due after the expiry of a 12-month reporting period. The first and second reports must set out

“the steps that are to be taken in the next reporting period towards putting the register in place, and…an assessment of when the register will be put in place.”

The third

“must include a statement setting out what further steps, if any, are to be taken towards putting the register in place.”

The obligation to report to the House on progress reinforces the commitments on our timetable that the Government have given elsewhere.

Question put and agreed to.

Clause 44 accordingly ordered to stand part of the Bill.

Clause 45

Crown application

Question proposed, That the clause stand part of the Bill.

[The Minister for Europe and the Americas (Sir Alan Duncan)]

Clause 45 allows sanctions regulations under clause 1 and regulations under clause 43 to make provision binding the Crown, but not to make the Crown criminally liable. It also stipulates:

“Nothing in this Act affects Her Majesty in Her private capacity”.

Both are common provisions in law. I commend the clause to the Committee.

Question put and agreed to.

Clause 45 accordingly ordered to stand part of the Bill.

Clause 46 ordered to stand part of the Bill.

Clause 47

Regulations: general