The UK Government has published draft legislation today which sets out the minimum it expects to see from British Overseas Territories when they publish the owners of companies registered there.

The legislation – which is supported by Overseas Territories themselves – will improve corporate transparency and deter illicit finance.

The introduction of publicly accessible registers of who controls companies in their jurisdiction shows the Overseas Territories’ commitment to corporate transparency.

The registers will mean that members of the public will be able to look up who owns a company if it is registered in an Overseas Territory.

The Government expects all Overseas Territories to have these registers in place by the end of 2023.

Welcoming the move in a Written Ministerial Statement, Minister for the European Neighbourhood and Americas, Wendy Morton, said:

Unanimous action from all the Overseas Territories demonstrates their commitment to tackle flows of illicit finance.

By introducing publicly accessible registers of beneficial ownership, the Overseas Territories are showing that they are responsible jurisdictions and a collaborative partner to the UK.

The UK Government is spearheading an international campaign to encourage more countries to commit to publicly accessible registers by 2023.

All inhabited Overseas Territories, including the Cayman Islands and British Virgin Islands, have announced their intentions to introduce publicly accessible registers. Gibraltar has already introduced its register.

These announcements demonstrate that the Overseas Territories are responding positively to the changing UK, EU and global norms on corporate transparency. They also underscores their continued contribution to the fight to tackle international illicit finance.

The Territories already share beneficial ownership information on a private basis with UK Law Enforcement Agencies, which have supported investigations.

Further Information:

• The draft legislation sets out what the UK Government expects to see when the Overseas Territories introduce their registers. A Written Ministerial Statement was laid today and can be viewed here.
• The Government is required to prepare this draft legislation by the Sanctions and Anti-Money Laundering Act 2018; and we are publishing it to show the progress made. We want to be upfront and open about what we want to see in the Overseas Territories’ registers.
• The draft legislation has been published on Gov.UK with a covering note.

A workbook is now available to help you quickly identify common problems when making bulk claim uploads in the Client and Cost Management System (CCMS).

How does it work?

If you are having problems with bulk claim uploads you will receive an ‘execution report’ with an error code.

If you enter the error code into the new ‘XML-Fixer’ workbook you will see an explanation of the issue and what to do next.

This should help you to manage your issue without needing to contact our online support team.

In specific cases, you may be prompted to input some further details on what you are trying to claim.

You will then be given specific advice on steps to take to resolve your issues. You may also be directed to an LAA team for further assistance.

Where do I find the workbook?

The ‘XML-Fixer’ workbook is available for download on our new training and support website.

Feedback

We would welcome email feedback on your experiences using the ‘XML- Fixer’ workbook: Online-Support@justice.gov.uk

Further information

Legal aid learning website: bulk claim upload issues – to download the new ‘XML-Fixer’

Online-Support@justice.gov.uk – to give us your feedback on the new ‘XML-Fixer’ workbook