SANCTIONS AND ANTI-MONEY  LAUNDERING BILL [LORDS]: Public Register of Beneficial Owners of Overseas Entities
“(1) The Secretary of State must, in addition to the provisions made under paragraph 6 of Schedule 2, create a public register of beneficial ownership information for companies and other legal entities registered outside of the UK that own or buy UK property, or bid for UK government contracts.
(2) The register must be implemented within 12 months of the day on which this Act is passed.
(3) For the purposes of this section “a register of beneficial ownership for companies and other legal entities registered outside of the UK” means a public register—
(a) which contains information about overseas entities and persons with significant control over them, and
(b) which in the opinion of the Secretary of State will assist in the prevention of money laundering.”—(Anneliese Dodds.)