Transparency and the UK property market
2 The draft Bill in context
Overseas ownership of UK land
Existing anti-money laundering measures
The Fourth and Fifth EU Anti-Money Laundering Directives
Background to the draft Bill
The draft Bill: a summary
3 Structures required to register
Does the Bill cover individuals?
The meaning of “overseas entity”
A “fast-track” registration service?
Exemption and modification powers
Other measures relating to trusts
Should trusts be brought into the scope of the draft Bill?
4 Beneficial owners
Beneficial owners: an overview
‘Conditions’ 1 and 2: the 25 per cent threshold
Congruence with the People with Significant Control Register
‘Condition 4’: “Significant influence or control”
Beneficial owners exempt from registering
Protection of information
5 Information held on the Register
Information held on the Register
Scotland: possible double-reporting?
Verification: a role for Companies House?
Verification: a role for regulated professionals?
Restrictions on registering land transactions
Absence of an entry on the Registers of Scotland
Length of leases which qualify for registration
Registration dates after which land may be subject to restriction
Innocent third parties
Use of criminal sanctions
Conclusions and recommendations
Appendix 1: Members and interests
Appendix 2: Call for Evidence
Appendix 3: Delegated Powers Memorandum
Appendix 4: Human Rights Memorandum
Appendix 5: List of possible loopholes in the draft Bill
Appendix 6: Schedule of minor and drafting issues
Appendix 7: Glossary
Published written evidence
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