Consultation on the proposed Beneficial Ownership (Civil Penalties) Regulations 2022

Closed 28 Feb 2022

Opened 1 Feb 2022

Feedback updated 25 Apr 2022

We asked

We asked for views and evidence regarding proposed expansion of civil penalties for contraventions of the Beneficial Ownership Act 2017.

You said

We received twelve responses. Five of the respondents gave feedback about the level of the penalties, three felt the penalties were too low to be dissuasive and two felt the penalties were too harsh and should be reduced.

The main comments received, and the Authority’s views on those comments can be found in the consultation response document attached.

We did

If approved by Tynwald, the new civil penalties are expected to come into force on 31 July 2022.

Results updated 25 Apr 2022



The Authority intends to broaden the scope of contraventions and offences for which a civil penalty can be considered, including those where currently only criminal sanctions are available.

Why your views matter

The purpose of this consultation is to gather views and evidence from which an informed decision will be made on the content of the draft legislation.

What happens next

Following the closure of the consultation period, the Authority will publish a summary of the comments received, which will be accessible through the Authority’s website and the Isle of Man Government’s Consultation Hub.


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