Equal Status For Protected Cell Companies

Regulations announced by the Manx Parliament Tynwald, will soon permit companies formed in accordance with the Companies Act 1931-2004 to be formed or converted to a Protected Cell Company (PCC) for the purposes of any class of business, giving them equal footing with 2006 Act companies.  Previously only companies formed under the Companies Act 1931-2004 which conducted insurance and collective investment business were able to be incorporated or converted to a PCC. 

The Protected Cell Companies (Eligibility) Regulations 2010 will come into effect from the 1st November 2010.