Search Legislation

Advanced Search

Sanctions and Anti-Money Laundering Act 2018

Status:

This is the original version (as it was originally enacted).

50Reports on progress towards register of beneficial owners of overseas entities

This section has no associated Explanatory Notes

(1)The Secretary of State must, after the end of each reporting period, publish a report explaining the progress that has been made during that period towards putting in place a register of beneficial owners of overseas entities.

(2)For the purposes of this section, the following are reporting periods—

(a)the period of 12 months beginning with the day on which this Act is passed;

(b)the period of 12 months beginning with the day after the end of the period mentioned in paragraph (a);

(c)the period of 12 months beginning with the day after the end of the period mentioned in paragraph (b).

(3)The first and second reports under this section must include—

(a)a statement setting out the steps that are to be taken in the next reporting period towards putting the register in place, and

(b)an assessment of when the register will be put in place.

(4)The third report under this section must include a statement setting out what further steps, if any, are to be taken towards putting the register in place.

(5)Where a report is published under this section the Secretary of State must lay a copy of it before Parliament.

(6)For the purposes of this section “a register of beneficial owners of overseas entities” 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.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Show Explanatory Notes for Sections: Displays relevant parts of the explanatory notes interweaved within the legislation content.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources