Burt on beneficial ownership
House: Burt defiant on company ownership
David Burt vowed a public register of beneficial ownership will not be imposed on Bermuda as he delivered a broadside against the British Government today.
The Premier said the UK Parliament’s demand for Overseas Territories to make public their registers of company ownership by 2020 amounted to a “direct assault” on their conduct of business.
He said it showed “wanton disregard for the unique constitutional position of Bermuda”.
Mr Burt said the legislative power of the UK Parliament over Bermuda can only be done with the consent of Bermuda’s legislature, and cited the example of the abolition of capital punishment.
He added that Bob Richards, the former Minister of Finance, had also expressed “his well stated views on this undue act of aggression by the British”.
“There will be no public register of beneficial ownership in Bermuda until this honourable House, elected by the people, votes to implement one,” Mr Burt said, to approval from both sides of Parliament.
• To read David Burt’s statement in full, click on the PDF under “Related Media”
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