CM pleased with Manx government engagement work

IOM won't be forced to have open register

The Isle of Man looks to have avoided a potential 'constitutional crisis' at the House of Commons yesterday (Tues 1).

The Island, along with other British crown Dependencies, will not be forced to have an open and public register of beneficial owners.

The House of Commons debated the Sanctions and Anti-Money Laundering Bill yesterday at Westminster.

The British Government conceded that overseas territories, such as the Cayman Islands and British Virgin Islands, will be required to introduce a register revealing the beneficial owners of assets held in the jurisdictions.

It's thought the UK government introduced this in attempts to avoid a defeat in the Commons, which could have an impact on local elections taking place in two days time.

MP Helen Goodman moved to include crown dependencies, as well as the overseas territories - but Foreign Office Minister Sir Alan Duncan did not agree.

The Isle of Man already has such a register, which is not public, but is accessible to law enforcement agencies investigating suspected criminal activity.

The Chief Minister had been in London ahead of the debate to raise strong concerns about the UK legislating for the Island without its consent.

This would be in breech of a long-standing constitutional arrangement between the jurisdictions.

In a statement, Howard Quayle welcomed the withdrawal of the amendment, which aimed to force crown dependencies under the same banner as overseas territories, and said he was "encouraged that the constitutional position of the Island has been respected".

Mr Quayle said the Island's self-governing status was acknowledged, and reiterated that beneficial ownership information can be accessed within one hour in urgent cases.

He's hailed the move a victory of the Manx government's "engagement work" and "cooperation" with the UK.

We'll hear from the Chief Minister in full later today on Manx Radio.