Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the consultation Property ownership and public contracting by overseas companies: improving transparency, published by his Department on 4 March 2016, what steps his Department has taken following the results of that consultation.

The Department for Business, Energy and Industrial Strategy published a summary of responses to the consultation on Property ownership and public contracting by overseas companies: improving transparency on 5 April 2017. On the same day, the Department published a call for evidence on an Overseas companies and other legal entities beneficial ownership register. The Government response to the call for evidence will be published shortly. On 24 January this year the Government issued a written ministerial statement confirming the timetable for implementation of this register. The Government will publish a draft Bill before the summer recess this year. We intend to introduce the Bill to Parliament early in the second session. Following Royal Assent and the making of secondary legislation to implement some of the technical details, the register will be operational in 2021.