It is anticipated that Royal Assent to the Companies Bill 2006, generally known as the New Manx Vehicle Bill will be announced at the October sitting of Tynwald.
Its completed its passage through the House of Keys and Legislative Council before the summer recess.
If Royal Assent is available to be announced in October, it is hoped that the Bill will be operational from 1st November 2006.
In preparation, the Treasury says work is being done on drafting the annual return form that will have to be prescribed and a fees Order. These are currently being prepared by the Financial Supervision Commission.
Consultation on those documents will commence shortly and will be available for viewing on the FSC website at www.gov.im/fsc.
In the meantime however, the Treasury has issued draft Memoranda and “Model” Articles of Association for consultation.
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