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Darren votes to improve anti-tax avoidance measures in the Sanctions and Anti Money Laundering Bill

Darren voted on this bill, which will decide the rules for government action on sanctions and against money laundering. Money laundering is where illegally gained money is harboured so as to make it look like it was legally gained.

Darren voted for the following changes to the bill, which were rejected by the government.

  • To create a public register of beneficial ownership information for companies and other legal entities outside of the UK that own or buy UK property, or bid for UK government contracts, within 12 months.
  • To ensure that when a company is formed in the UK, the relevant formation services must identify the beneficial owners of the company. It will also treat Companies House as a “company formation agent”, ensuring that the data on the public register of beneficial ownership for companies is accurate.
  • To remove paragraph 2(a) from Clause 48, which enables the appropriate Minister to amend, repeal or revoke enactments for regulations under section 1 or 44 using Henry VIII powers.

 

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