The Companies Registry has extended the registration date for Nominated Officer enrolment under the Beneficial Ownership Act 2017 to 1st October 2017.

Nominated Officer enrolment codes were issued to all Isle of Man legal entities in June and were due to expire on 1st August. To avoid additional expense in generating and issuing new codes, the Companies Registry has taken the decision to extend the deadline giving the remaining entities chance to register.

Nick Cowell, Companies Registry Manager, commented:

‘We have seen a very positive response to the new legislation with around two thirds of all legal entities contacted registering their information through their enrolment code. Of these, a third have already completed their obligations under the Beneficial Ownership Act 2017.

‘We encourage any remaining legal entities that have not enrolled online to take the opportunity of the extension to avoid any repercussions.’

Any legal entities who have not registered by 1st October may be contacted by the Financial Services Authority.

If a nominated officer has lost their enrolment code, they should email companies@gov.im  to request a new code. All existing codes expire on 1st October 2017.