Question

To ask the Secretary of State for Business, Innovation and Skills, what steps his Department plans to take to ensure that the proposed beneficial ownership registry will properly identify the real controlling parties of all companies listed.

The Small Business, Enterprise and Employment Bill will make provision for the implementation of a central registry of company beneficial ownership information. The legislation will set out the obligations and sanctions that will apply to companies and others to ensure that the central registry contains information on the ultimate owners and controllers of UK companies.