The Isle of Man has played host to delegates from the Company Registries of the United Kingdom, Jersey, Guernsey, Northern Ireland, Gibraltar and the European Business Register for the Common Law Companies Registry Workshop.
The annual event is held in a different jurisdiction each year and is an important forum to discuss the challenges facing the Company Registries of the UK and the Crown Dependencies.
Delegates were welcomed by Alan Crowe MLC the Political Member of the Department of Economic Development with responsibility for the Companies Registry.
‘The role of the Registries in supporting economic growth cannot be overstated. The difficult balance between maintaining and improving the integrity and accuracy of our business registers, without increasing the burdens on business, will become tougher at this time of change and challenge. Therefore working together in forums such as this is vital in helping us tackle these challenges effectively.’
The theme for this year’s Workshop was “Transparency and Trust” in response to the United Kingdom Government’s discussion paper of the same name issued in July following the G8 Conference.
Topics discussed included extending the roles of the Registries and issues arising from electronic transactions, especially document retention and document disposal.
Discussions on finding a common definition for "company status", "company type" and “place of business” across the jurisdictions also took place as well as an update on progress of the development of the European Business Register.