On the 12th May 2016 David Cameron hosted the anti-corruption summit in London which brought together 40 world leaders and several bodies with the motive of moving forward in tackling global corruption.
Four key announcements of interest were made at the summit:
- David Cameron announced that this Government would introduce a public register of beneficial ownership for any company purchasing property in the UK. Those who already own property would also have to complete the register as well as those wanting a Government contract. This news comes as the UK PSC Register reaches its first month in force, which requires UK companies to produce, keep and maintain a register of people with significant control of that company. This is very interesting and is likely to lead to some surprises following its implementation.
- Such registers are the first of their kind and several countries are expected to follow suit. 40 other jurisdictions have agreed to automatically share their own registers of company ownership which will be accessible to the police.
- The Prime Minister also consulted on reversing the burden of proof where there is suspicion that stolen money is being used to buy property, forcing the accused to prove that the money was accumulated legitimately.
- It was announced that an International Ani-corruption Centre would be established to help police and prosecute the corrupt across borders.
- There was also consultation on extending the criminal offence for failure to prevent economic crimes such as fraud and money laundering.
Click here for more details...
Contact Details:
Nath Solicitors Limited
4/4a Bloomsbury Square,
London, WC1A 2RP
Tel: 02076816073
Mob: 07545813894
Email: shubha@nathsolicitors.co.uk
Web: http://www.nathsolicitors.co.uk/
No comments:
Post a Comment