The Chief Minister says there's the potential for a constitutional crisis if the next UK government tries to force the Island to introduce a public register of beneficial ownership.
Mr Bell was speaking at a sitting of the Tynwald Economic Review Committee yesterday afternoon.
He faced questions from the committe about work going on in government to offset any potential negative impact following the outcome of next month's UK General Election.
Mr Bell said there was a "serious drive" to ensure that some changes to the transparency in ownership of private companies is brought in:
Does it matter where your MHK lives?
Island-based charity says 'difficult days ahead' in Nepal
TT racer to complete 'the lap he never got to finish'
Music festival aimed to help businesses and families in CastletownÂ