Brexit again…!

At the time of writing, there is still no clarity on if, when or how the United Kingdom (UK) will leave the European Union (EU) and many potential scenarios ranging from an extension to the deadline for leaving, a second referendum, a general election to a withdrawal of Article 50 are all still possible.

This article discusses the transfer of personal data to the UK and Gibraltar from the Isle of Man when (if?) the UK leaves the EU.

Isle of Man Legislative Update

In this article, Robyn Wood outlines the most recent updates to legislation on the Isle of Man.

Striking off a company

There are two separate company law regimes in the Isle of Man, the Isle of Man Companies Acts 1931-2004 and the Isle of Man Companies Act 2006. Regardless of which regime a company is incorporated under, all companies are under an obligation to make certain statutory filings with the Isle of Man Companies Registry (the Registry). These obligations differ between the two regimes and therefore if any company officer is uncertain as to a company’s filing obligations they should seek legal advice.

Methods of winding up a solvent Isle of Man company 

“Winding up” is an often used term used to describe the procedure of concluding the life of a company under which the assets are realised and distributed, or transferred, usually to the member(s) of the company, after any debts and liabilities have been settled.  Where a company is solvent there are two methods of “winding up” available to it.

This note sets out a brief comparison between Administrative Dissolution and Members Voluntary Liquidation, and points worthy of consideration.

Click here to subscribe

Locations

Isle of Man

Share
Twitter LinkedIn Email Save as PDF
More Publications
30 Jul 2021 |

Fighting international fraud

First published in New Law Journal, July 2021. Appleby partners Anthony William and Jared Dann an...

Contributors: Jared Dann, Claire Corkish
28 Jul 2021 |

Trust Protectors and the Exercise of Trustee Powers

The recent judgment of the Staff of Government Division in the case of Mazzoleni v Summerhill Trust ...

Contributors: Erin Trimble-Cregeen
18 Jun 2021 |

Isle of Man – Extension of Economic Substance Requirements to Partnerships and Limited Liability Companies

The Income Tax (Substance Requirements) Order 2021 was approved by Tynwald on 16 June 2021.  This O...

13 May 2021 |

Isle of Man: Mergers & Acquisitions Comparative Guide

First Published in Mondaq Comparative Guide, April 2021 This country-specific Q&A provides an...

6 May 2021 |

Legal 500 M&A Guide 2021 - Isle of Man update

Originally provided for Legal 500's M&A Guide, April 2021 This country-specific Q&A provi...

12 Mar 2021 |

Material adverse change clauses in light of the Covid-19 pandemic

Experts from each of our key global offices provide jurisdiction specific advice and answer question...

8 Mar 2021 |

Appleby Celebrates International Women’s Day

International Women’s Day is celebrated annually in support of gender equality and equal participa...