(1) The relevant Minister must prepare a report about the arrangements in place between -
(a) the government of the United Kingdom, and
(b) the government of each relevant territory,
for the sharing of beneficial ownership information.
(2) The report must include an assessment of the effectiveness of those arrangements, having regard to such international standards as appear to the relevant Minister to be relevant.
(3) The report -
(a) must be prepared before 1 July 2019, and
(b) must relate to the arrangements in place during the period of 18 months from 1 July 2017 to 31 December 2018.
(4) The relevant Minister must -
(a) publish the report, and
(b) lay a copy of it before Parliament.
(5) The reference in subsection (1) to arrangements in place for the sharing of beneficial ownership information between the government of the United Kingdom and the government of a relevant territory is to such arrangements as are set out in an exchange of notes -
(a) for the provision of beneficial ow
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