Queen of Britain accused of trying to hide the royal asset

Queen of Britain accused of trying to hide the royal asset

The Guardian reports that Britain's Queen Elizabeth II has been tactful in keeping her royal assets secret from the public or Government. While the British Government was separate, the royal dealings, traditionally regarded as a family of advocacy, were open to the public, and the public money allocated for the survival of the former royals was passed in a referendum. The newspaper explained that although it was the royal custom to maintain a high level of existence, the fact that this concealment had been kept secret from everyone would undermine public confidence in the royalty.

 In November 1973, the newspaper revealed that the Queen feared that a proposed bill to bring transparency to company shareholders would allow the public to examine her financial affairs. As a result, she sent her lawyer to launch a tactic to pressure the Government to make the relevant changes. It has been revealed that. Matthew Farrer, then a partner in the prestigious law firm Farrer & Co., was then drafted by Prime Minister Edward Heath's Government to meet with civil servants in the Department of Commerce and Industry to discuss the proposed transparency in the Companies Act. The bill seeks to prevent investors from secretly building significant stakes in listed companies by acquiring their shares through leading companies or nominees. Directors, therefore, have the right to request any nominee who owns shares in their company when inquiring about their clients' identities. 

The three crucial pages in the correspondence between the Civil Servants of the Department of Commerce reveal that at that meeting, the Queen's objection was stated by law that the Queen's investments in listed companies and their value would be revealed by law. He suggested that the Queen should be released. The Financial Times at the time said that "the Buckingham Palace's proposal in 1973 that the disclosure of the Queen's shareholding should be outlawed could be a landmine for the Conservatives." A spokeswoman for the Queen said in a statement: "The will of the Queen is the role of sovereignty is purely formal. The Queen always consents to the requests of the Government."