Premier David Burt is standing firm on Bermuda’s position on the public register of beneficial ownership proposal now under consideration by Britain’s legislature.
The Premier joined in on a telephone conversation with British Prime Minister Theresa May and leaders from Overseas Territories last Thursday.
In the 35-minute conversation, he said:
“During the call, I restated the Government of Bermuda’s position: this country does not recognise the right of the United Kingdom Parliament to legislate on matters which are internal affairs reserved to Bermuda under its constitution.
“I reiterated our position that Bermuda will implement a public register of beneficial ownership when it is a global standard.”
The Sanctions and Anti-Money Laundering Bill will force British Overseas Territories to set up a public register of beneficial ownership, if approved by both the House of Commons and the House of Lords.
Premier Burt has already gone on record saying the Bill shows “wanton disregard” for Bermuda’s Constitution. He has also vowed that Bermuda will not make its register public until the Bermuda’s legislators votes to do so.
He has also reiterated the fact that Bermuda has kept a register of beneficial ownership for decades and it is open to the authorities in other countries on request. But it is not available to members of the public.