The Isle of Man Companies Act 2006 is undergoing changes that
will take effect from 1 April 2025. Under these new provisions, the
first appointment of directors, or any subsequent changes to the
register of directors, must be notified to the Registrar of
Companies within one month.
Additionally, any previous appointments that have not yet been
notified to the Registrar must be submitted by 1 May 2025.
These changes will streamline the annual return filing process
under the 2006 Act, as director information will no longer be
updated via the annual return (with a new annual return form to be
introduced from 1 May 2025), enabling a significant increase in
online filing potential.
Currently, more than 40% of annual returns for companies operating
under the Companies Act 1931 are filed online, and this update will
enable companies operating under the 2006 Act to take similar
advantage of the availability of online processes.
Implementation for existing companies
The Companies Act 2006 is well established, and to facilitate a
smooth transition to these new requirements, the Central Registry
will not introduce a new form.
Instead, all 2006 Act companies that have not already elected to
file their register of directors (IMRD) must submit a copy of their
register before 1 May 2025.
Any subsequent changes to the register must be reported to the
Registrar within one month of the change.
The register of directors must include all information required
under section 101 of the Act, including:
– The names and business or residential addresses of all
directors;
– The date of appointment of each director;
– The date on which any director ceased to hold office.
The new requirements provide no exemption nor exclusion for 2006
Act companies that are already in the dissolution or winding up
process. It applies to all 2006 Act companies that are live on the
register.
Requirements for companies incorporated after 1 April 2025
Companies incorporated under the 2006 Act after 1 April 2025
will be required to submit their register of directors within one
month of the appointment of their first directors.
Any subsequent changes to the register must be reported to the
Registrar within one month of the change.
Form IM13 – Notice of Ceasing to File a Copy of Register of
Directors will no longer be accepted after 1 April 2025 and will be
removed from the Registry's list of available forms.
Further improvements to online services available through the
Central Registry are planned as part of efforts to digitise
processes for customers, and in line with the Isle of Man
Government efficiencies programme.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
