THE Treasury has launched a consultation on a proposal to expand the types of business that can be conducted by protected cell companies (PCCs).

PCCs, companies in which assets are ring-fenced within separate cells, are currently restricted to insurance business and collective investment schemes.

The Treasury is now consulting on draft regulations to allow any class of business to be conducted by PCCs.

The consultation closes on August 31 2010.

Details on the proposal are set in the consultation document which can be found at: http://www.gov.im/treasury/consultations.gov?menuid=16916&type=current.

The draft regulations are also available via this link.

A summary of the responses received and the draft regulations will be posted on the Treasury and Department of

Economic Development websites at http://www.gov.im/ded/consultations.gov  and http://www.gov.im/treasury/consultations.gov

Responses should be sent to:  Gillian Prestwich, policy adviser, corporate strategy division, either by e-mail to:    Gillian.Prestwich@treasury.gov.im or by mail to Corporate strategy division, The Treasury, Isle of Man Government, Bucks Road, Douglas, IM1 3PX.