Changes to the Companies Act 2006: New director notification requirements

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 using Form IM12 – Notice of Change in Register of Directors

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 using Form IM12 – Notice of Change in Register of Directors.

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.