text_body: --- DIVISION TITLE ---
  
  Sanctions and Anti-Money Laundering Bill - New Clause 8 - Public Register of Beneficial Owners of Overseas Entities
  
  --- MOTION EFFECT ---
  
  
  
  @ MP voted aye to require, within a year, 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. 
  
  @ MP voted no not to require, within a year, 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. 
  
  
  The majority of MPs voted not to require, within a year, 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. 
  
  MPs were considering the Sanctions and Anti-Money Laundering Bill[1].
  
  The proposed new clause rejected in this vote was titled: ''Public Register of Beneficial Owners of Overseas Entities'' and stated:
  
  :(1) The Secretary of State must, in addition to the provisions made under [https://publications.parliament.uk/pa/bills/cbill/2017-2019/0176/cbill_2017-20190176_en_7.htm#sch2 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 âa register of beneficial ownership for companies and other legal entities registered outside of the UKâ means a public registerâ
  
  :(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.â
  
  The rejected new clause was accompanied by the following explanatory notice:
  
  :This new clause would 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.
  
  The Bill already enabled ministers to set up such a register, this new clause sought to require such a register to be introduced within 12 months and to make it public. 
  ==
  
  * [1] [https://services.parliament.uk/Bills/2017-19/sanctionsandantimoneylaundering/documents.html Parliament's webpage on the Sanctions and Anti-Money Laundering Bill]
  * [2] [https://publications.parliament.uk/pa/bills/cbill/2017-2019/0176/cbill_2017-20190176_en_7.htm#sch2 Schedule 2 of the Sanctions and Anti-Money Laundering Bill as at the time of the vote.]
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  