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Law changes aimed at improving transparency on company ownership

The government's set out proposals aimed at making it easier to identify who owns and controls Island companies.

Changes to legislation are designed to improve transparency by clarifying who must be recorded as a company's true owner or controller. 

Enterprise Minister Tim Johnston says the move will improve the accuracy of information held on the Central Registry, and keep the Island in line with international standards.

The proposals will go before Tynwald next month.
 

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