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Public Contracting

Establish a public register of company beneficial ownership information for foreign companies who bid on UK central government contracts

Country: UK

Status: overdue

Themes: Beneficial ownership

Last updated: May 2019

Classification:

Concrete: Concrete | New: New | Ambitious: Ambitious

Notes:

May 2019 update: The UK opened a call for evidence on a beneficial ownership register to increase the transparency of overseas investment in property and public contracts in April 2017. The results of the consultation were published in March 2018 – and confirmed that the Government intended to require the overseas companies that win public contracts, rather than those that bid for public contracts, to provide their beneficial ownership information. TI-UK considers this a downgrade of the original commitment, as it will not help to address the risk of corrupt practices during the bidding process.

In the consultation on a draft version of the Registration of Overseas Entities Bill published in July 2018, the Government stated that it was “considering mechanisms including the Contracts Finder Service” to hold this information.

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