Our highly professional legal experts have a great working knowledge of 1931 Act Companies
Company Law is an integral part of all commercial and corporate structures.
We have the expertise and insight to ensure your 1931 Act Company is built with a solid foundation. As a result, this provides you room to grow and expand.
The 1931 Act states that a company in the Isle of Man can be either a public or private company; in accordance with the act, with both of these two types of companies operating in very different ways.
Company law can have an impact in various other legal matters including banking and finance, bankruptcy and financial services regulation. It can also include issues with contracts and overlaps with fiduciaries.
Public Limited Company (PLC)
This type of company can offer shares and debentures to the public for sale. It can operate in this manner provided it is explicitly stated as such to do so in accordance with the 1931 Act. However, the company must adhere to further legal requirements, such as submitting fully regulated and audited accounts to the Isle of Man Companies Registry. This is an annual requirement, so as not to breach the 1931 Act.
Private Limited Company
This type of company in general has no requirement to submit audited company accounts on an annual basis. However, this is not always the case. For example, if the company is connected to a public limited company then there may be a requirement. Consequently, a private company in accordance with the 1931 Act must not offer public shares.
1931 Act Company | What we do
MannBenham is experienced in all of these areas and is able to provide broad services and detailed advice. We are on hand to assist at any point in your company’s life, from it’s creation to it’s long term operational requirements.
Talk to us today
If you need to talk to someone on Company Law and a 1931 Act Company, then take the first step and email firstname.lastname@example.org or call us on 01624 639350 to arrange your free initial consultation with us today at our office, over the telephone or via video call.