Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether he intends to publish a deadline for the implementation public registers of beneficial ownership in the Overseas Territories per the requirements in the Sanctions and Anti-Money Laundry Act.

Overseas Territories' (OTs) commitments to delivering publicly accessible registers of beneficial ownership were outlined in a Written Ministerial Statement of 18 December 2023. This month, as Minister for the OTs, I wrote to OT Governments to set out UK transparency expectations. I noted that full public accessibility remains our expectation. Access filtered to those with 'legitimate interest' should be delivered to a clear timetable, as an interim step. I also outlined a set of minimum requirements that the UK Government would expect to see in any 'legitimate interest' regime. At the UK-OT Illicit Finance Dialogue earlier this month, officials discussed OTs' progress towards their commitments and technical assistance to support implementation. I expect to continue discussions, including on ambitious deadlines for implementation, at the Joint Ministerial Council in November.