Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, both what steps she (a) has taken and (b) plans to take to recover property titles on the Register of Overseas Entities owned by overseas entities which have been dissolved or struck off without there first being an onward sale.

The handling of overseas entities assets upon dissolution is based on the company's information and the location of the asset. If the asset is located in England or Wales, the Treasury Solicitor manages the assets. In Scotland, it's the King's and Lord Treasurer's Remembrancer. In Northern Ireland, the Crown Solicitor's Office. Assets located in the Duchies of Cornwall or Lancaster are dealt with by their solicitors.

My Department is responsible for compliance with the transparency obligations imposed on overseas entities owning UK property under the Economic Crime (Transparency and Enforcement) Act 2022.