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ARTICLE · 03 MAY 2018

Clear Direction On Beneficial Ownership

Jersey Finance Limited
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A high-profile debate took place yesterday in the UK House of Commons and considered a set of amendments to the Sanctions and Anti-Money Laundering Bill.

United KingdomGovernment, Public Sector
Jersey Finance
Jersey Finance
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A high-profile debate took place yesterday in the UK House of Commons and considered a set of amendments to the Sanctions and Anti-Money Laundering Bill. This debate has brought the issue of beneficial ownership and public registers back into the spotlight.

The result of that debate was that the amendment with respect to the Overseas Territories was carried while the amendment tabled with respect to the Crown Dependencies was withdrawn. The withdrawal of the amendment which provided for UK domestic policy to be applied to the Crown Dependencies in respect of public registers has been welcomed by Jersey Finance, underlining the contention that the UK Parliament cannot and should not seek to legislate for the Crown Dependencies.

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