The Economic Crime (Transparency and Enforcement) Act 2022 became law earlier this week: see here or here (pdf). The explanatory memorandum will be available here when published. Parts 1 and 2, not yet in force (secondary legislation is required), contain the framework for the new register of overseas entities owning land in the UK and will make changes to the unexplained wealth order regime. Part 3 makes changes to the sanctions regime, chapter 2 of which is already in force.
Judgment was delivered yesterday in Teekay Tankers Ltd v STX Offshore & Shipping Co [2014] EWHC 3612 (Comm). The case involved a challenge by STX (an overseas company) regarding the jurisdiction of the English court to hear a claim for damages brought against it by Teekay. One of the arguments made, but rejected by the trial judge, was that the service of the Claim Form, which had been effected on STX's registered UK establishment, was ineffective.
The Overseas Companies Regulations 2009 were published today on OPSI: see here (html) and here (pdf). An explanatory memorandum is available here and this explains the purpose of the Regulations as follows: Every company incorporated in a country outside the United Kingdom (an overseas company) that operates its business in the United Kingdom through at least one establishment (that is to say either a branch or a place of business that is not a branch) and is not a UK-incorporated subsidiary company, must register its particulars with the Registrar of Companies. The Overseas Companies Regulations 2009, made under the Companies Act 2006 ... set out the UK company law filing requirements for this type of company, which come into effect on 1 October 2009".
