MPs making call for public register of ownership to visit the island
A VISIT to Guernsey by two MPs campaigning for the introduction of public registers of beneficial ownership has been confirmed for next month.
Andrew Mitchell and Dame Margaret Hodge said that they were looking forward to coming to Guernsey on Monday 3 September for discussions about the implementation of open registers. They also hope to visit Jersey.
They have previously said that they would be ‘making the case’ that the Crown Dependencies should embrace public registers in the wake of controversial legislation compelling the British Overseas Territories to introduce them.
Supporters claim public registers will reveal the true ownership of companies.
However, there have been warnings that attempts by the UK parliament to legislate for the Crown Dependencies on domestic matters would run contrary to constitutional conventions.
P&R president Gavin St Pier said that he was looking forward to welcoming the two MPs, adding that he believed there would be ‘constructive engagement’ during the visit as all parties had a shared objective of raising standards.
‘As is known, Mr Mitchell and Dame Margaret led an attempt to seek parliament’s agreement to legislate directly for the Overseas Territories regarding registers of beneficial ownership.
‘I have previously had a brief chance to discuss this subject with each of them while visiting Westminster and I welcome the opportunity for ongoing dialogue,’ said Deputy St Pier.
On Guernsey’s policy approach to beneficial ownership, he added that the island maintained it was the ‘right one’ in all discussions.
‘The information on our register is verified by regulated service providers and updated on a near-to-real-time basis, and it is accessible by law enforcement and tax authorities on request.
‘By contrast, the UK’s public register only contains self-declared information that is updated on an annual basis only.
‘We stand ready to share our experience with UK parliamentarians to help them raise standards in the UK.’
Deputy St Pier added: ‘I also remind MPs regularly of Guernsey’s centuries-old constitutional relationship with the Crown, which is vitally important and must be respected.
‘It is simple and unequivocal – the UK parliament cannot legislate for Guernsey without our consent on purely domestic matters.’
