On 3 April, the House of Lords further examined the Criminal Finances Bill as it continues its Committee stage. Matters discussed ranged from tax evasion and public registers of beneficial ownership of companies, to bribery and corporate criminal liability for economic crime. A further examination of the Bill is scheduled for 25 April 2017.
The Bill is designed to, among other things:
amend the Proceeds of Crime Act 2002;
make provision in connection with terrorist property; and
create corporate offences for cases where a person associated with a body corporate or partnership facilitates the commission by another person of a tax evasion offence.
It is anticipated that the new corporate criminal offence will come into force in September 2017.
On 3 April, the House of Lords further examined the Criminal Finances Bill as it continues its Committee stage. Matters discussed ranged from tax evasion and public registers of beneficial ownership of companies, to bribery and corporate criminal liability for economic crime. A further examination of the Bill is scheduled for 25 April 2017.
The Bill is designed to, among other things:
amend the Proceeds of Crime Act 2002;
make provision in connection with terrorist property; and
create corporate offences for cases where a person associated with a body corporate or partnership facilitates the commission by another person of a tax evasion offence.
It is anticipated that the new corporate criminal offence will come into force in September 2017.
