Question to the Department for International Development:

To ask the Secretary of State for International Development, what discussions she has had with HM Treasury Ministers on the implementation by UK Overseas Territories of public registers of beneficial ownership.

The UK continues to lead the way on beneficial ownership disclosure and to encourage others to do the same. We are having discussions at both Ministerial and official level with the Overseas Territories to emphasise the importance of this agenda. Any system should meet the following criteria: UK and domestic law enforcement and tax authorities must be able to access company beneficial ownership information without restriction, subject to relevant safeguards; these competent authorities should be able to quickly identify all companies that a particular beneficial owner has a stake in, without needing to submit multiple and repeated requests; and companies or their beneficial owners must not be alerted to the fact that an investigation is under way.