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Implementation of Companies Act 2006 23 October 2006

The Financial Supervision Commission is advised that the Companies Act 2006 received Royal Assent in Tynwald on 16 October 2006. Subsequently, Treasury appointed the Commission as Registrar of Companies and the Registrar made all the necessary regulations so that registration of these companies can commence from 1 November 2006.

The regulations have now been laid before Tynwald and as advance notice, to allow corporate service providers to familiarise themselves with the forms, fees and procedures, the regulations are can be viewed on the Commission’s website at http://www.fsc.gov.im/companies/caregulations.xml

The Fees Regulations which have been made reflect the fee structure proposed in the consultative paper. These can be viewed with the other regulations (see above). This reflects the strong support for the consultation paper’s proposals. The Commission’s response to the consultation including details of the annual return content can be found at http://www.fsc.gov.im/doclibrary/previous_consult.xml

Following Treasury’s consultation on model articles of association for 2006 Act companies, the Registrar has also made regulations prescribing “model articles”. Treasury’s response to this consultation is available, for your information, on the Commission’s website as above.

If you have any queries, please contact:

Liz Berry
Senior Adviser - Policy and Legal Unit
Financial Supervision Commission
P O Box 58, Douglas
Isle of Man, IM99 1DT
Tel: +44 (0) 1624 689335

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