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Beneficial ownership scrutiny challenged

Suggestion defeated in Keys

A back bench MHK says he still has concerns about the effect that proposed Beneficial Ownership legislation could have on the Manx Financial Industry.

Ramsey member Lawrie Hooper attempted yesterday (Tues) to have a committee set up to examine the clauses of the Bill, before it got to that stage in The House of Keys.

His suggestion was defeated by 16 votes to 6.

However, Mr Hooper says he is happy with the overall concept:

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