The Isle of Man Companies Act 2006 is the legislation that permits the incorporation of companies in accordance with Isle of Man company law. You will find below the key extracts from the Isle of Man Companies Act 2006 along with the full act.
(1) the name of a company shall end with — the word “Limited”, “Corporation” or “Incorporated”; or the words “Public Limited Company” ; or the abbreviation “Ltd”, “Corp”, “Inc”, “PLC” or “plc”.
§12. No company shall be registered under a name —
A company shall, at all times, have a registered office and registered agent in the Isle of Man.
§74. No person shall be, or agree to be, the registered agent of a company unless that person holds a licence granted under the Fiduciary Services Acts 2000 and 2005 which does not exclude acting as registered agent.
The memorandum of a company shall state; the name of the company; the company type; the address and name of the first registered office and agent of the company; the full name and residential or business address of each subscriber; in the case of a company limited by shares and an unlimited company with shares, the agreement of each subscriber to take one or more shares on the incorporation of the company;
(1) The business and affairs of a company shall be managed by, or under the direction or supervision of, the directors of the company.
(2) The directors of a company have all the powers necessary for managing, and for directing and supervising, the business and affairs of the company.
(1) A company shall at all times have at least one member.
(2) A company limited by shares and by guarantee shall at all times have at least one shareholder.
(4) In the case of an unlimited company at least one of the members of the company shall be an unlimited member.
§61. (1) A member of a limited company has no liability, as a member, for the liabilities of the company.
(2) The liability of a shareholder to the company, as shareholder, is limited to —
Without limiting section 27(2) but subject to section 30, shares in a company may —
§30. A company has no power to, and shall not — issue a bearer share; convert a share to a bearer share; or exchange a share for a bearer share,
(2) Where the company has been struck off the register of companies under section 183, the Registrar shall not restore the company to the register of companies unless —
(3) An application to restore a company to the register of companies may be made by the company, or a creditor, member or liquidator of the company and shall be made within 6 years of the date of the notice.
(4) The company, a creditor, a member or a liquidator thereof may, within 12 weeks, appeal to the Court from a refusal of the Registrar to restore the company