The Public Sector Pensions Authority is consulting on a proposal to make the Isle of Man Government Unified Scheme (Amendment) Scheme 2014. The purpose of the draft Scheme is to provide, where appropriate, for continued public sector pension provision for those public sector employees who may move to the private sector should the services they provide be transferred and thereafter their employment to an external commercial organisation.

A copy of the draft Scheme and further information about it can be found at the following web address: www.iomunifiedscheme.im/news/Pages/News

The Public Sector Pensions Authority is consulting on a proposal to make the Public Sector Pensions (Admission) Regulations 2014. The purpose of the draft legislation is to provide, where appropriate, for continued public sector pension provision for those public sector employees who may move to the private sector should the services they provide be transferred and thereafter their employment to an external commercial organisation.

A copy of the draft Scheme and further information about it can be found at the following web address: www.iomunifiedscheme.im/news/Pages/News

The Financial Supervision Commission (‘the Commission’) has today issued a consultation on draft Regulations for audit firms authorised under section 14E of the Companies Act 1982 (‘the Act’). These Regulations form part of the Commission’s proposals to introduce:

1. A public register of all audit firms authorised under section 14E of the Act;
2. Application, authorisation extension and annual registration fees in respect of such authorisations;
3. A requirement for audit firms to submit an annual return to the Commission; and
4. A detailed biennial review process for such authorisations.

This consultation is particularly relevant to firms either currently authorised or seeking authorisation to audit Isle of Man companies under section 14E of the Act in addition to corporate service providers and legal advisers to such firms.

Further consultation on the proposal to widen the scope of application of the Companies Act 1931 to 2004 (Treasury Share) Regulations 2010 and to exercise the power in the Companies Act 2006 to make regulations that will allow companies to hold and deal with treasury shares

As GCSE examinations undergo major reforms in the UK, the Department of Education and Children is consulting the public on the options open to the Isle of Man.