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ARTICLE · 07 SEPTEMBER 2018

Isle Of Man Legislation Updates

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The Act addresses several recommendations made within the MONEYVAL Mutual Evaluation Report of the Isle of Man, as well as addressing other matters identified by various authorities in relation to anti-money laundering and the effective prosecution of financial crime.

Isle of ManGovernment, Public Sector
Robyn Wood
Robyn Wood
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Anti-Money Laundering and Other Financial Crime (Miscellaneous Amendments) Act 2018

The Act addresses several recommendations made within the MONEYVAL Mutual Evaluation Report of the Isle of Man, as well as addressing other matters identified by various authorities in relation to anti-money laundering and the effective prosecution of financial crime.

The Act includes amendments to:

  • The Anti-Terrorism and Crime Act 2003,
  • The Proceeds of Crime Act 2008,
  • The Terrorism and Other Crime (Financial Restrictions) Act 2014 and the Financial Intelligence Unit Act 2016,
  • Certain record-keeping provisions of the Foundations Act 2011,
  • The Companies Act 1931, the Companies Act 2006, the Foundations Act 2011, the Limited Liability Companies Act 1996 and the Partnership Act 1909, to provide powers to make enquiries in respect of information to be registered in accordance with recommendations specified in the Fifth Round Mutual Evaluation Report of the Committee of

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