In a far sighted and at the same time very contemporary reading of the development of the financial services industry, the Isle of Man Government has created an alternative banking regime which came into effect on 1 August 2016.1 The new regime will enable corporations and high net worth individuals to become masters of their own [...]
I Insolvency Law, Policy & Procedure i Statutory Framework and Substantive Law Insolvency law on the Isle of Man is governed primarily by the following legislation: The Fraudulent Assignments Act 1736 Preferential Payments Act 1908 Preferential Payments and Other Acts (Financial Adjustments) Act 1973 Companies Act 1931-2004 Companies Act 2006 The primary legislation [...]
When a company is considering entering into a particular business venture considerable time is taken in discussing, negotiating and reviewing the contractual terms in the proposed agreement between the parties. Whilst focusing on key contractual terms of the proposed agreement, often the signing provisions to the agreement to bind the company are overlooked. Failure by a [...]
The Isle of Man financial Services Authority and the Isle of Man Office of Fair Trading have recently issued a consultation on crowdfunding which included consultation on other legislative changes. These other legislative changes centre around proposed changes to the Regulated Activates Order, Financial Services (Exemptions) Regulations and Financial Services (Fees) Order. One of these changes [...]
