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Submission: On July 28 via manual from GB — Scanned from GB
Effective URL: https://mannbenham.com/?mjnkn-y4461246_html
Submission: On July 28 via manual from GB — Scanned from GB
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Skip to content Search for: * English * Chinese (Traditional) * Home * Legal * MannBenham Advocates * Dispute Resolution * Commercial Dispute Resolution (15) * Boardroom, Director & Shareholder Disputes * Business Crime & Regulatory * Business Partner Disputes * Commercial Fraud * Commercial Litigation * Construction Disputes * Contract Disputes * Debt Recovery * Employment Disputes * Financial Services Litigation * Injunctions & Asset Recovery * Insolvency, Receiverships & Liquidation * Professional Negligence Claims * Property Litigation * Trusts & Estates Disputes * Dispute Resolution for Individuals (10) * Civil Disputes * Debt Matters * Disputes involving a Contract * Employment Matters * Estate and Trusts Disputes * Land Disputes * Medical Negligence * Mis‐Selling of Financial Products * Personal Injury & Road Accidents * Professional Negligence * Family Law * Change of Names * Child Maintenance * Contact & Residence Matters * Divorce & Finances * Leave to Remove from Jurisdiction * Parental Responsibilities * Prenuptial Agreements * Separation Agreements * Regulatory Matters * Anti‐Money Laundering AML * Banking, Finance & Investments * Beneficial Ownership * Cannabis Regulation * Collective Investment Schemes & Funds * Corporate Service Providers * Credit Unions * Crowd‐Funding * Data Protection & GDPR * Designated Business * Insurance & Pensions * Post BREXIT Planning * Regulatory Investigations * Trust Service Providers * Corporate & Commercial * Business Matters (12) * Banking and Finance * Business Immigration | Contact us today * Commercial Leases | Contact us today * Legal Opinions * Compliance & Investigation * Corporate Governance | Contact us today * Corporate Restructuring * Due Diligence Investigations * Employment Issues | Contact us today * Business Insolvency | Contact us today * Mergers & Acquisitions * Sale & Purchase of a Business * Corporate Structures (10) * 1931 Act Company * 2006 Act Company * Cell Companies * Commercial Contracts * Discretionary Trusts * Ethical Structured Company * Isle of Man Foundations * Joint Ventures & Shareholder Agreements * Purpose Trusts * Trust Structures * Private Clients * Property & Conveyancing (4) * Conveyancing * Leases * Planning * Timeshare * Wills and Estates (4) * Wills and Estates * Isle of Man Probate * Isle of Man Probate FAQs * Power of Attorney * Work & Business (10) * Business Partnerships * Converting Your Business to a Company * Employment Issues * Immigration * Personal Contracts * Personal Debt Recovery * Redundancy Issues * Regulatory Issues * Terms & Conditions * Your Rights in the Work Place * Index of Legal Services * Regulatory | Contact us today * Contentious Regulatory Matters * Business Crime and Regulatory * Compliance and Regulatory Investigations * Non-Contentious Regulatory Matters * Anti‐Money Laundering | Contact us today * Beneficial Ownership | Contact us today * Credit Unions | Contact us today * Deposit Taking and Investment Business * GDPR and Data Protection | Contact us today * Pensions and Insurance | Contact us today * Post-BREXIT | Processes & Regulation * Regulation and Compliance | Contact us today * eGaming * MannBenham eGaming (8) * Operator Licensing * Software Licensing * eGaming Business Support * eGaming Compliance * Anti‐Money Laundering * Business Continuity * Data Protection * eGaming Legislation * Fiduciary * MannBenham Fiduciaries (8) * Company Incorporation & Formation * eGaming Administration * Trust Formation * Family Office * Company Dissolution * Company Restoration * Fiduciary Administration * Medicinal Cannabis * Application Requirements * Approval and Licensing Process * Advisory * MannBenham Advisory * About Us * Find out more about us… * Contact Us * Our People * Miles Benham * Carly Stratton * Christopher Webb * Paul Beckett * Kate Clague * Gaynor Denham * Chris Grimson * Tim Henwood * Terence McDonald * Emma Ratcliffe * Patrick Swanney * Jade Bradley * Adrian Brockhouse * Emily Cardwell * Jeanette Craster * Oliver Fleming * Robert Floate * Neil Harmer * Lucie Keenan * Wasim Khan * Caroline Lyon * Alex Mitchell * Rhys Moore * Katie Newton * Tanya Rhodes * Frank Schuengel * Robert Waller * Daren Ward * Amber Young * Careers at MannBenham * Downloads * Books & Publications * News & Articles * Video Downloads * Pay Invoice * * English * Chinese (Traditional) * Home * Legal * MannBenham Advocates * Dispute Resolution * Commercial Dispute Resolution (15) * Boardroom, Director & Shareholder Disputes * Business Crime & Regulatory * Business Partner Disputes * Commercial Fraud * Commercial Litigation * Construction Disputes * Contract Disputes * Debt Recovery * Employment Disputes * Financial Services Litigation * Injunctions & Asset Recovery * Insolvency, Receiverships & Liquidation * Professional Negligence Claims * Property Litigation * Trusts & Estates Disputes * Dispute Resolution for Individuals (10) * Civil Disputes * Debt Matters * Disputes involving a Contract * Employment Matters * Estate and Trusts Disputes * Land Disputes * Medical Negligence * Mis‐Selling of Financial Products * Personal Injury & Road Accidents * Professional Negligence * Family Law * Change of Names * Child Maintenance * Contact & Residence Matters * Divorce & Finances * Leave to Remove from Jurisdiction * Parental Responsibilities * Prenuptial Agreements * Separation Agreements * Regulatory Matters * Anti‐Money Laundering AML * Banking, Finance & Investments * Beneficial Ownership * Cannabis Regulation * Collective Investment Schemes & Funds * Corporate Service Providers * Credit Unions * Crowd‐Funding * Data Protection & GDPR * Designated Business * Insurance & Pensions * Post BREXIT Planning * Regulatory Investigations * Trust Service Providers * Corporate & Commercial * Business Matters (12) * Banking and Finance * Business Immigration | Contact us today * Commercial Leases | Contact us today * Legal Opinions * Compliance & Investigation * Corporate Governance | Contact us today * Corporate Restructuring * Due Diligence Investigations * Employment Issues | Contact us today * Business Insolvency | Contact us today * Mergers & Acquisitions * Sale & Purchase of a Business * Corporate Structures (10) * 1931 Act Company * 2006 Act Company * Cell Companies * Commercial Contracts * Discretionary Trusts * Ethical Structured Company * Isle of Man Foundations * Joint Ventures & Shareholder Agreements * Purpose Trusts * Trust Structures * Private Clients * Property & Conveyancing (4) * Conveyancing * Leases * Planning * Timeshare * Wills and Estates (4) * Wills and Estates * Isle of Man Probate * Isle of Man Probate FAQs * Power of Attorney * Work & Business (10) * Business Partnerships * Converting Your Business to a Company * Employment Issues * Immigration * Personal Contracts * Personal Debt Recovery * Redundancy Issues * Regulatory Issues * Terms & Conditions * Your Rights in the Work Place * Index of Legal Services * Regulatory | Contact us today * Contentious Regulatory Matters * Business Crime and Regulatory * Compliance and Regulatory Investigations * Non-Contentious Regulatory Matters * Anti‐Money Laundering | Contact us today * Beneficial Ownership | Contact us today * Credit Unions | Contact us today * Deposit Taking and Investment Business * GDPR and Data Protection | Contact us today * Pensions and Insurance | Contact us today * Post-BREXIT | Processes & Regulation * Regulation and Compliance | Contact us today * eGaming * MannBenham eGaming (8) * Operator Licensing * Software Licensing * eGaming Business Support * eGaming Compliance * Anti‐Money Laundering * Business Continuity * Data Protection * eGaming Legislation * Fiduciary * MannBenham Fiduciaries (8) * Company Incorporation & Formation * eGaming Administration * Trust Formation * Family Office * Company Dissolution * Company Restoration * Fiduciary Administration * Medicinal Cannabis * Application Requirements * Approval and Licensing Process * Advisory * MannBenham Advisory * About Us * Find out more about us… * Contact Us * Our People * Miles Benham * Carly Stratton * Christopher Webb * Paul Beckett * Kate Clague * Gaynor Denham * Chris Grimson * Tim Henwood * Terence McDonald * Emma Ratcliffe * Patrick Swanney * Jade Bradley * Adrian Brockhouse * Emily Cardwell * Jeanette Craster * Oliver Fleming * Robert Floate * Neil Harmer * Lucie Keenan * Wasim Khan * Caroline Lyon * Alex Mitchell * Rhys Moore * Katie Newton * Tanya Rhodes * Frank Schuengel * Robert Waller * Daren Ward * Amber Young * Careers at MannBenham * Downloads * Books & Publications * News & Articles * Video Downloads * Pay Invoice E-Gaming Seminar Videos Click Here Click Here Click Here Click Here Contact us Welcome to MannBenham You're in great hands Welcome to MannBenham You're in great hands E-Gaming Seminar Videos Click Here Click Here Click Here Click Here Contact us Welcome to MannBenham You're in great hands Welcome to MannBenham You're in great hands Search for: * English * Chinese (Traditional) * Home * Legal * MannBenham Advocates * Dispute Resolution * Commercial Dispute Resolution (15) * Boardroom, Director & Shareholder Disputes * Business Crime & Regulatory * Business Partner Disputes * Commercial Fraud * Commercial Litigation * Construction Disputes * Contract Disputes * Debt Recovery * Employment Disputes * Financial Services Litigation * Injunctions & Asset Recovery * Insolvency, Receiverships & Liquidation * Professional Negligence Claims * Property Litigation * Trusts & Estates Disputes * Dispute Resolution for Individuals (10) * Civil Disputes * Debt Matters * Disputes involving a Contract * Employment Matters * Estate and Trusts Disputes * Land Disputes * Medical Negligence * Mis‐Selling of Financial Products * Personal Injury & Road Accidents * Professional Negligence * Family Law * Change of Names * Child Maintenance * Contact & Residence Matters * Divorce & Finances * Leave to Remove from Jurisdiction * Parental Responsibilities * Prenuptial Agreements * Separation Agreements * Regulatory Matters * Anti‐Money Laundering AML * Banking, Finance & Investments * Beneficial Ownership * Cannabis Regulation * Collective Investment Schemes & Funds * Corporate Service Providers * Credit Unions * Crowd‐Funding * Data Protection & GDPR * Designated Business * Insurance & Pensions * Post BREXIT Planning * Regulatory Investigations * Trust Service Providers * Corporate & Commercial * Business Matters (12) * Banking and Finance * Business Immigration | Contact us today * Commercial Leases | Contact us today * Legal Opinions * Compliance & Investigation * Corporate Governance | Contact us today * Corporate Restructuring * Due Diligence Investigations * Employment Issues | Contact us today * Business Insolvency | Contact us today * Mergers & Acquisitions * Sale & Purchase of a Business * Corporate Structures (10) * 1931 Act Company * 2006 Act Company * Cell Companies * Commercial Contracts * Discretionary Trusts * Ethical Structured Company * Isle of Man Foundations * Joint Ventures & Shareholder Agreements * Purpose Trusts * Trust Structures * Private Clients * Property & Conveyancing (4) * Conveyancing * Leases * Planning * Timeshare * Wills and Estates (4) * Wills and Estates * Isle of Man Probate * Isle of Man Probate FAQs * Power of Attorney * Work & Business (10) * Business Partnerships * Converting Your Business to a Company * Employment Issues * Immigration * Personal Contracts * Personal Debt Recovery * Redundancy Issues * Regulatory Issues * Terms & Conditions * Your Rights in the Work Place * Index of Legal Services * Regulatory | Contact us today * Contentious Regulatory Matters * Business Crime and Regulatory * Compliance and Regulatory Investigations * Non-Contentious Regulatory Matters * Anti‐Money Laundering | Contact us today * Beneficial Ownership | Contact us today * Credit Unions | Contact us today * Deposit Taking and Investment Business * GDPR and Data Protection | Contact us today * Pensions and Insurance | Contact us today * Post-BREXIT | Processes & Regulation * Regulation and Compliance | Contact us today * eGaming * MannBenham eGaming (8) * Operator Licensing * Software Licensing * eGaming Business Support * eGaming Compliance * Anti‐Money Laundering * Business Continuity * Data Protection * eGaming Legislation * Fiduciary * MannBenham Fiduciaries (8) * Company Incorporation & Formation * eGaming Administration * Trust Formation * Family Office * Company Dissolution * Company Restoration * Fiduciary Administration * Medicinal Cannabis * Application Requirements * Approval and Licensing Process * Advisory * MannBenham Advisory * About Us * Find out more about us… * Contact Us * Our People * Miles Benham * Carly Stratton * Christopher Webb * Paul Beckett * Kate Clague * Gaynor Denham * Chris Grimson * Tim Henwood * Terence McDonald * Emma Ratcliffe * Patrick Swanney * Jade Bradley * Adrian Brockhouse * Emily Cardwell * Jeanette Craster * Oliver Fleming * Robert Floate * Neil Harmer * Lucie Keenan * Wasim Khan * Caroline Lyon * Alex Mitchell * Rhys Moore * Katie Newton * Tanya Rhodes * Frank Schuengel * Robert Waller * Daren Ward * Amber Young * Careers at MannBenham * Downloads * Books & Publications * News & Articles * Video Downloads * Pay Invoice * * English * Chinese (Traditional) * Home * Legal * MannBenham Advocates * Dispute Resolution * Commercial Dispute Resolution (15) * Boardroom, Director & Shareholder Disputes * Business Crime & Regulatory * Business Partner Disputes * Commercial Fraud * Commercial Litigation * Construction Disputes * Contract Disputes * Debt Recovery * Employment Disputes * Financial Services Litigation * Injunctions & Asset Recovery * Insolvency, Receiverships & Liquidation * Professional Negligence Claims * Property Litigation * Trusts & Estates Disputes * Dispute Resolution for Individuals (10) * Civil Disputes * Debt Matters * Disputes involving a Contract * Employment Matters * Estate and Trusts Disputes * Land Disputes * Medical Negligence * Mis‐Selling of Financial Products * Personal Injury & Road Accidents * Professional Negligence * Family Law * Change of Names * Child Maintenance * Contact & Residence Matters * Divorce & Finances * Leave to Remove from Jurisdiction * Parental Responsibilities * Prenuptial Agreements * Separation Agreements * Regulatory Matters * Anti‐Money Laundering AML * Banking, Finance & Investments * Beneficial Ownership * Cannabis Regulation * Collective Investment Schemes & Funds * Corporate Service Providers * Credit Unions * Crowd‐Funding * Data Protection & GDPR * Designated Business * Insurance & Pensions * Post BREXIT Planning * Regulatory Investigations * Trust Service Providers * Corporate & Commercial * Business Matters (12) * Banking and Finance * Business Immigration | Contact us today * Commercial Leases | Contact us today * Legal Opinions * Compliance & Investigation * Corporate Governance | Contact us today * Corporate Restructuring * Due Diligence Investigations * Employment Issues | Contact us today * Business Insolvency | Contact us today * Mergers & Acquisitions * Sale & Purchase of a Business * Corporate Structures (10) * 1931 Act Company * 2006 Act Company * Cell Companies * Commercial Contracts * Discretionary Trusts * Ethical Structured Company * Isle of Man Foundations * Joint Ventures & Shareholder Agreements * Purpose Trusts * Trust Structures * Private Clients * Property & Conveyancing (4) * Conveyancing * Leases * Planning * Timeshare * Wills and Estates (4) * Wills and Estates * Isle of Man Probate * Isle of Man Probate FAQs * Power of Attorney * Work & Business (10) * Business Partnerships * Converting Your Business to a Company * Employment Issues * Immigration * Personal Contracts * Personal Debt Recovery * Redundancy Issues * Regulatory Issues * Terms & Conditions * Your Rights in the Work Place * Index of Legal Services * Regulatory | Contact us today * Contentious Regulatory Matters * Business Crime and Regulatory * Compliance and Regulatory Investigations * Non-Contentious Regulatory Matters * Anti‐Money Laundering | Contact us today * Beneficial Ownership | Contact us today * Credit Unions | Contact us today * Deposit Taking and Investment Business * GDPR and Data Protection | Contact us today * Pensions and Insurance | Contact us today * Post-BREXIT | Processes & Regulation * Regulation and Compliance | Contact us today * eGaming * MannBenham eGaming (8) * Operator Licensing * Software Licensing * eGaming Business Support * eGaming Compliance * Anti‐Money Laundering * Business Continuity * Data Protection * eGaming Legislation * Fiduciary * MannBenham Fiduciaries (8) * Company Incorporation & Formation * eGaming Administration * Trust Formation * Family Office * Company Dissolution * Company Restoration * Fiduciary Administration * Medicinal Cannabis * Application Requirements * Approval and Licensing Process * Advisory * MannBenham Advisory * About Us * Find out more about us… * Contact Us * Our People * Miles Benham * Carly Stratton * Christopher Webb * Paul Beckett * Kate Clague * Gaynor Denham * Chris Grimson * Tim Henwood * Terence McDonald * Emma Ratcliffe * Patrick Swanney * Jade Bradley * Adrian Brockhouse * Emily Cardwell * Jeanette Craster * Oliver Fleming * Robert Floate * Neil Harmer * Lucie Keenan * Wasim Khan * Caroline Lyon * Alex Mitchell * Rhys Moore * Katie Newton * Tanya Rhodes * Frank Schuengel * Robert Waller * Daren Ward * Amber Young * Careers at MannBenham * Downloads * Books & Publications * News & Articles * Video Downloads * Pay Invoice MannBenham Home | Contact us todayadmin2023-07-24T16:13:00+00:00 WE ARE MANNBENHAM EXPERT LEGAL, CORPORATE SERVICES AND EGAMING ADVISORY TEAMS OFFERING STRATEGIC AND RESPONSIVE SERVICES THAT YOU CAN RELY ON. At MannBenham we provide our clients with a full range of legal, fiduciary and advisory services. We pride ourselves on being flexible, agile and wholly focused on delivering success for our clients. EXPLORE OUR RANGE OF SERVICES BELOW. Legal Legal Services Our highly experienced team have a successful track record helping across a range of commercial and civil matters. Learn More eGaming eGaming Solutions Instrumental in the Isle of Man eGaming Sector, we have been working with gaming clients, worldwide, for over 20 years. Learn More Fiduciary Fiduciary Services We provide a fully rounded commercial approach to optimise business setup, structuring and operation. Learn More Advisory Advisory Solutions We provide specialist egaming consulting services including compliance, operations, payment services, technology and management. Learn More Legal Legal Services Our highly experienced team have a successful track record helping across a range of commercial and civil matters. Learn More eGaming eGaming Solutions Instrumental in the Isle of Man eGaming Sector, we have been working with gaming clients, worldwide, for over 20 years. Learn More Fiduciary Fiduciary Services We provide a fully rounded commercial approach to optimise business setup, structuring and operation. Learn More Advisory Advisory Solutions We provide specialist egaming consulting services including compliance, operations, payment services, technology and management. Learn More Legal Legal Services Our highly experienced team have a successful track record helping across a range of commercial and civil matters. Learn More eGaming eGaming Solutions Instrumental in the Isle of Man eGaming Sector, we have been working with gaming clients, worldwide, for over 20 years. Learn More Fiduciary Fiduciary Services We provide a fully rounded commercial approach to optimise business setup, structuring and operation. Learn More Advisory Advisory Solutions We provide specialist egaming consulting services including compliance, operations, payment services, technology and management. Learn More PreviousNext MANNBENHAM | WHO WE ARE Established in 1997 MannBenham Advocates is a full-service Isle of Man legal practice. Based in the heart of the Island’s busy finance centre in modern offices a minutes walk from the Court and Registries. Our clients range from individuals and local businesses to well-known publicly listed companies. Through MannBenham Fiduciaries, our licensed Trust and Corporate Service Provider we provide company structuring, set up and administration of trusts and companies. One of the specialist areas we deal with is online gambling; assisting operators with the establishment and administration of their Isle of Man operations. MannBenham Advisory provides specialist egaming consulting services including compliance, operations, payment services, technology and management. WHAT OUR CLIENTS SAY ABOUT MANNBENHAM We work closely with our clients ensuring that they have a positive experience with us, that they understand everything we do for them and that they receive the expected outcomes. Don’t just take our word for it, see what our clients are saying about us: > “I also of course am grateful to you for all you have done. The road was long > and hard at times, with the occasional bump along the way but finally, the > ‘impossible’ was achieved, in spite of some difficulties and for that, my > family and I are very appreciative.” > “Absolutely delighted with the service from MannBenham. They are extremely > approachable, efficient and responded quickly to all our questions and > concerns. A pleasure to work with.” > “I wanted to say thank you so much for making this happen. We do appreciate > the time and effort that you have put in to ensure that the estate was > distributed at the beginning of the week as promised. I realise too that the > team have put in a lot of hard work to ensure that this happened quickly.” > “I am writing to say that MannBenham have provided us excellent service for > our business legal requirements over the past few years.” > “You are not only a great lawyer and a very valuable asset to MannBenham but > you are also a lovely person,and now a friend for life. You kept my feet on > the ground on many occasion and explained the law and facts when I needed > reassuring.” > “I cannot begin to explain how important you have been during the past three > years but without you it would have been an even tougher battle. I thank you > from the bottom of my heart for all your hard work.” > “I thought I would let you know that I have been most impressed with the > service we have received. You have been helpful and a given a thoroughly > professional service in a pleasant way.” > “Our father was a lovely man and he would have been proud of us all, and all > the hard work you put in, for solving the problems we met along the way and > not giving in, in the face of adversity.Thank you for being there for us.” > “Thank you for all your assistance and advice with my case, I wouldn’t be in > this fortunate position if it hadn’t have been for your excellent, > professional, help. Your knowledge has really helped this case.” > “Thank you for all your assistance in this matter, which was greatly > appreciated and I will certainly instruct your firm in the future, if needed.” > “Without all your support and advice we could never have done it within the > timescale and we really appreciate all the very hard work that went into it > all.” > “Thank you for the friendly guidance and assistance.” > “It has been a pleasure to work with you and I have to say I truly admire that > ‘unflappable cool calm’ that you display at all times. It has calmed me down > on more than one occasion.” REASONS TO USE MANNBENHAM PERSONAL SERVICE Always professional, providing an exceptional level of service to our clients ALWAYS PROFESSIONAL, PROVIDING AN EXCEPTIONAL LEVEL OF SERVICE TO OUR CLIENTS Everything we do is backed by leading legal professionals and an extensive range of advisory and support services designed to meet our client requirements and exceed expectations ALWAYS PROFESSIONAL We believe being professional is about us giving our best at all times WE BELIEVE BEING PROFESSIONAL IS ABOUT US GIVING OUR BEST AT ALL TIMES We remain professional at all times, treating everyone respectfully and with courtesy, listening and understanding our clients needs GLOBAL SOLUTIONS MannBenham Advocates, Advisory and Fiduciary solutions are truly global MANNBENHAM ADVOCATES, ADVISORY AND FIDUCIARY SOLUTIONS ARE TRULY GLOBAL MannBenham’s global reach combines Isle of Man excellence with cross-jurisdictional expertise creating a complete integrated approach WEALTH OF EXPERIENCE We pride ourselves on the wealth of our experience and knowledge WE PRIDE OURSELVES ON THE WEALTH OF OUR EXPERIENCE AND KNOWLEDGE Our experience and expertise crosses both commercial and personal, delivering real solutions that satisfy our clients expectations CONTACT US TODAY TO DISCUSS YOUR REQUIREMENTS GET IN TOUCH MANNBENHAM | 49 VICTORIA STREET, DOUGLAS, ISLE OF MAN, IM1 2LD | EMAIL: ENQUIRIES@MANNBENHAM.COM | TELEPHONE: +44 (0)1624 639350 Expert legal, egaming advisory and fiduciary teams offering professional, strategic and responsive solutions that you can rely on. OUR SERVICES * Legal * eGaming * Fiduciary * Advisory WHO ARE WE? * About Us * Our People | Contact us today * Contact Us * The Law Society SOCIAL MEDIA LINKS © 2023 MannBenham Advocates Limited | Privacy Notice | Cookie Notice | Legal Notice Class 10 | Analysis Licence * To allow for an Isle of Man laboratory to receive samples that may contain controlled cannabinoids, for the testing and reporting upon the chemistry of the samples * If you already hold a core licence (cultivation, research, extraction or manufacturing licence) and intend to conduct in-house testing or have samples sent to a test lab, the licence is not required * Year 1 licence fee is £12,500, and £8,000 each subsequent year CLOSE Class 9 | Manufacture Licence * To allow the manufacturing of any cannabis-based product except one that is created from biomass * Requires an extraction licence if wanting to produce unrefined materials. * Requires an import licence to import unrefined materials with the exception of biomass * Year 1 licence fee is £22,500, and £15,000 each subsequent year CLOSE Class 8 | Export Licence * To allow material containing controlled cannabinoids to be sent from the Isle of Man to elsewhere * Not required if you do not come into contact with the with the controlled cannabinoids * Not required if you transport controlled cannabinoids into or out of the Isle of Man for others, but a transport licence (see below) will be required * Year 1 licence fee is £10,000, and £7,500 each subsequent year CLOSE Class 7 | Import Licence * To allow material containing controlled cannabinoids to be brought into the Isle of Man * Not required if you do not come into contact with the with the controlled cannabinoids * Not required if you transport controlled cannabinoids into or out of the Isle of Man for others, but a transport licence (see below) will be required * Year 1 licence fee is £10,000, and £7,500 each subsequent year CLOSE Class 6 | Extraction Licence * To allow the extraction of cannabinoids from cannabis biomass and the removal of unwanted elements from the extract * Requires a cultivation licence for growing of cannabis biomass * Requires an import licence to import cannabis biomass * Year 1 licence fee is £22,500, and £17,500 each subsequent year CLOSE Class 5 | Transportation and Storage Licence * For the transportation and storage of controlled cannabinoids * Allows for the transportation of the produce of Isle of Man licence holders between ports and facilities, or between sites in different locations * Allows for the storage of the produce of Isle of Man licence holders * Not required for storage on the premises of production where a cultivation/research, extraction, manufacturing or analysis licence is held * Year 1 licence fee is £5,000, and £2,500 each subsequent year CLOSE Class 4 | Research Licence * For the cultivation of high THC/CBD yield cannabis plants indoors * Allows for the creation of new strains or seedstock * Male and female plant may be cultivated * Year 1 licence fee is £20,000, and £12,000 each subsequent year CLOSE Class 3 | Cannabis Licence (High THC Cultivation) * For the cultivation of high THC/CBD yield cannabis plants indoors * Allows for the sale of biomass, live plants and packaged plant parts * Female plant may be cultivated only * Year 1 licence fee is £45,000, and £35,000 each subsequent year CLOSE Class 2 | Industrial Hemp Licence with Use * For the cultivation of low THC cannabis for medicinal use * ‘Active’ parts of the plant are used to produce Cannabidiol (CBD) * Female plant may be cultivated only * Year 1 licence fee is £10,000, and £5,000 each subsequent year CLOSE Class 1 | Industrial Hemp Licence without Use * For the cultivation of low Tetrahydrocannabinol (THC) cannabis for industrial use * The yield crop is used to create fibre or industrial material * Female plant may be cultivated only * ‘Active’ parts of the cannabis plant (flowers, leaves and buds) are not used * Year 1 licence fee is £500, and £250 each subsequent year CLOSE Litigation This is the last means to agree a resolution and involves a trial which is legally binding and enforceable – however, it can be appealed. CLOSE Arbitration This is where all parties agree to deal with a neutral third-party arbitrator who has the relevant experience to engage in the matter and considers everything in relation to the matter. If those involved fail to come to an agreement the arbitrator can make a decision that favours one side. Arbitrations can be legally binding, depending on the jurisdiction. CLOSE Adjudication This method is via a neutral third-party where the adjudicator will give a decision. If the dispute is not resolved the clause may also include the provision to apply to the courts to enforce it. Adjudication is a cost-efficient method which helps operations proceed while the dispute is resolved. CLOSE Expert Determination This is an alternative to mediation and is used to resolve disputes of a specialist nature. Again, as with mediation, the outcome cannot be legally enforced, however if those involved agree to this route it may save them from more time-consuming and costly procedures. CLOSE Mediation This clause suggests that a neutral third-party helps to mediate and assist in the resolution of the dispute. Although not legally binding mediation can be an effective way to avoid deterioration of the situation. CLOSE Negotiation This basic clause states that if a dispute should arise between the contractor and project owner that they will attempt to reach a just and satisfactory resolution between themselves, prior to taking any dispute further. CLOSE Written Contract It is important to ensure that these are drafted efficiently, and at MannBenham we can review your existing contracts and work with you to draft new ones when the time arises. CLOSE Oral Contract This is where you have agreed with another for the provision of services or for the purchase of goods but you have not put any of the terms of your agreement in writing. CLOSE Loss/Damage There has to be a basic premise that there has been a loss as a consequence of the professional being negligent. We must prove you have suffered a loss, and the particular kind of loss, to recover. The requirement of a monetary loss can be shown in a number of ways – if you were physically injured by allegedly negligent conduct and you had to pay a medical bill, or if your property was damaged, we could show the cost to repair it. Damage may be physical, purely monetary, both physical and economic (loss of earnings following a personal injury) or even reputational (in a defamation case). CLOSE Breach of Duty For there to be a breach of duty a professional must have fallen below the standards of a reasonably competent professional, with regards to the usual standards expected of that particular profession, although considerations are taken into account for errors which do not necessarily amount to negligence. As an example, failure by a mortgage broker to explain the financial implications of fixing the rate on a mortgage they had entered into with a client is not an oversight or error, but is a fundamental responsibility of the professional role and therefore is a clear breach of duty. CLOSE Duty of Care Professionals, as best practice, normally owe a duty of care to their clients. For example, when a financial adviser gives advice on investments, they owe a duty of care to the client. They must ensure that they are suitable for the client’s needs. The client must be able to understand the product, service or investment; but most importantly the risks and implications associated with each product, service or investment. CLOSE Causation In order for liability to result from a negligent act or omission, it is necessary to prove not only that the injury was caused by that negligence, but also that there is a legally sufficient connection between the act and the negligence. CLOSE Who can be a Settlor? Anyone over 18 who is not suffering from any mental disability can form a trust in the Isle of Man. If the home jurisdiction of that person does not have any trust law or does not recognise trusts, that fact will be disregarded in the Isle of Man and does not prevent that person from becoming a settlor. CLOSE Forced Heirship Forced heirship means in some jurisdictions that a proportion of the property held by a deceased person on their death has to pass to particular family members. Property held in an Isle of Man trust is immune from such requirements and the beneficiaries can be anyone the settlor wishes to choose. CLOSE Settlor The founder of a trust is known as the settlor and puts the trust property into the hands of the trustees. The settlor is often but not always also a beneficiary. CLOSE Beneficiaries In the Isle of Man, the trust is established for beneficiaries, who can either be named or described by reference to a class of persons in the trust deed. Most modern trust deeds allow additional beneficiaries to be appointed later, or existing beneficiaries to be excluded permanently or temporarily (at the Trustees’ discretion). CLOSE Trust Name Trusts in the Isle of Man are not on any public register and there is no restriction on what name can be chosen for the Trust. CLOSE Protectors In Isle of Man Trusts, protectors are optional, but often utilised. A protector is not like a trustee, because he or she mainly has powers of veto over trustee decisions. This is because the protector has a close personal knowledge and understanding of the needs of the beneficiaries. Protectors are often professionals themselves, or can be other family members, friends or advisors. CLOSE Trustees Trustees manage the assets placed in trust under the terms of the trust deed. Trustees can be either private persons or corporate entities. Trustees must manage the trust with the best interests of the beneficiaries in mind. Therefore, trustees are required to be both fair and impartial when dealing with beneficiaries. These duty of care requirements are outlined in the Trustee Act 2001. CLOSE Augmented Reality (AR) Uses either a transparent screen or projection technology to overlay digital information or virtual images in the real world. It turns a physical environment into a digital interface by placing virtual objects in the real world. Most gamblers enjoy placing bets and playing games online, as it is easy and convenient, but they may lose the live experience of casinos. Casinos can use AR technology to improve the casino live gaming experience by combining virtual objects with the real world. CLOSE Virtual Reality (VR) Uses multi-projected environments to create realistic images, sounds, and other sensations in combination with physical properties that replicate the physical presence of a user in an imaginary environment. VR allows the players to experience a virtual casino, along with other players and machines. CLOSE Types of Digital Currency The Isle of Man distinguishes between four different types of online currencies: * Digital Currency Refers to any electronic representation of a fiat currency and this can include representations of virtual currency. * Virtual Currency This is a narrower asset and is a digital representation of value which can be traded digitally. The nature of a virtual currency means that it does not need to be centrally controlled or administered. Virtual currency can be either convertible or non-convertible. * Convertible Virtual Currency Includes cryptocurrency, can be converted into a fiat currency, either directly, or through an exchange. For a currency to be convertible, there does not need to be set rate or an established benchmark, but that merely a market exists and the ownership rights can be transferred from one person to another, whether for consideration or not. * Non-Convertible Virtual Currency Once purchased, cannot be transferred to another person and cannot be redeemed for fiat currency, either directly or through an exchange. CLOSE Office Address & Local Agent All Trusts must have a registered local agent and a local office address for process service requests and official notices. CLOSE Trustees and Protector Unlike a company, trusts do not have directors, but have trustees, protectors, and settlors that manage the trust. They take on the same sort of responsibilities as a director does with the management of a corporation. Trustees Trustees are expected to manage the assets placed within their trust within the terms of the trust’s original agreement. Trustees can be either private persons or corporate entities. In the Isle of Man, three categories of people or entities can be selected as trustees including: * Fiduciary service providers licensed by the Isle of Man Financial Services Authority to conduct trust services * Advocates * Accountants Trustees must manage the trust with the best interests in the beneficiaries in mind. Therefore, trustees are required to be both fair and impartial when dealing with beneficiaries. These requirements are outlined in the Trustee Act of 2001. Protectors In Isle of Man Trusts, protectors are optional, but often utilised. A protector should help trustees with guidance, and also check in with the beneficiaries and the settlor to let them know the trust is being administered for them with the best intentions in mind. Protectors should be qualified professionals or at least have a general understanding of the trust itself, like the settlor him/herself or a relative. CLOSE Fit and Proper In addition to appointing ‘fit and proper’ staff, you are also required to prove that they meet the criteria. All due diligence documentation on the directors, any designated officials and operations managers as well as details of the shareholders and beneficial owners of the egaming company will also need to be evidenced. Our team is on hand to help collate all the information and documentation for submission to the Isle of Man Gambling Supervision Commission. CLOSE Isle of Man Gambling Supervision Commission The Isle of Man Gambling Supervision Commission is an independent statutory board established in 1962. In addition to the licensing and regulation of land-based gambling operations (casino, amusement and slot machines, betting offices and lotteries), the Commission also regulates all online gambling activities, which have grown significantly in recent years. The Commission adopts a hybrid model of prescriptive regulatory requirements combined with risk-based oversight. The statutory framework of gambling legislation and underlying regulations provides the skeleton upon which the inspectorate monitors the activities of the operator through regular compliance reporting and active contact and interaction with the operator and its key staff. CLOSE How many gamblers are in the world? World gambling statistics show that around 26% of the global population gamble – that equates to around 1.6 billion people with 4.2 billion worldwide gambling at least once every year. The considerate and compassionate handling of Problem Gambling, or to be more specific, Harm Minimisation, is critical when it comes to the global gambling sector. From Australia to the US, from Kenya to the Isle of Man operators, regulators and industry stakeholders are under extreme pressure to provide meaningful solutions which sit firmly atop any media or political agenda. Whilst the media and politicians have the sector firmly in its sights with high profile and often tragic stories of individuals who have been unable to control an addiction, the numbers afflicted with this debilitating disease remains steady at around 0.5% in the UK. The percentage may have remained small but as the numbers who gamble grow the truth is that more people have been affected and the industry is in an arms race to find solutions that can help. The answer for us is simple and it comes with collaboration. Be it regulators aligning policy and guidance for their licensees, to operators syncing safer gambling tools, responsible gambling initiatives and making sure messages are uniform and consistent, then what is abundantly clear is that there is no one solution or one provider that will be able to resolve this. CLOSE Data Protection The Data Protection Act 2018 sets important regulation for companies to adhere to, with the interests of the general public at its core. All companies, societies and public services whilst they maintain contact with their clients all use personal data. Under The Data Protection Act 2018 (and the Orders and Regulations made under that Act) the provisions of the EU General Data Protection Regulation and the EU Law Enforcement Directive apply to the Isle of man, even though it has never been a Member of the EU. These provisions will continue to form part of Isle of Man law even though the UK has now ceased to be an EU Member. Article 31 of the Applied GDPR requires controllers and processors (and representative if applicable) to cooperate with the supervisory authority in the performance of its tasks. In the Isle of Man the supervisory authority is the Information Commissioner who has both investigative and corrective powers. The applicable sanctions are warnings, reprimands, and enforcement notices. Financial penalties for infringement of a provision of the Applied GDPR may be imposed, up to a maximum of £1,000,000. An appeal against certain of the decisions of the Information Commission lies to The Data Protection Tribunal. CLOSE Money Laundering Reporting Officer (MLRO) This role ensures that any business can satisfy their regulatory obligations including the reviewing and maintenance of: * Money laundering register * Advertising and media register * Law enforcement enquiries register * Anti-bribery register * Breaches and errors registers * Training log * Risk assessments Depending on your organisational structure, we can provide this and other roles as an outsourced alternative staffing solution rather than recruiting directly yourself. This will give you peace of mind that, as an expert in the field we will ensure you have the right person for the right role, to suit your budgetary needs and resource requirements. CLOSE Reference Material Isle of Man Gambling Supervision Commission Guidance on the Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Act 2018 Download Here CLOSE Segregated Client Accounts This is currently the most cost-effective and popular method used to secure protection of players’ deposits and winnings. There are still strict regulatory controls under which they must operate, whilst monies held are protected under law. These ‘client accounts’ for the sole purpose of holding player money must be segregated from other monies. As part of these regulatory requirements, accounts must also be set up through a recognised Isle of Man bank, although there may be future provision for this to be extended to include off-island banking relationships. Even with strict controls in place these accounts are open to potential flight risk as the monies can be accessed easily. They can be dipped into and paid back between reporting times, thus falling short of covering any player liabilities at certain times which would result in a breach. CLOSE Bank Guarantee This is an agreement negotiated between the Licence Holder and its bank. However, bank guarantees usually attract a fee from the bank for setting up and a regular fee for the continued use of the facility, and the bank may also require security for most, or all, of the guaranteed amount. Accessibility to these accounts for both payment and reporting is not governed by control gateways or mandated reporting requirements. It is extremely important to note therefore that should the amount of player deposits and winnings exceed the guaranteed amount or funds on account, then the Commission would consider this a regulatory breach and act accordingly. CLOSE Trusts These see deposits and winnings held in a structure that adequately ring-fences these monies from others with the licence holder. The introduction of a trust structure ensures that there are controls and processes in place managed independently of the licence holder. On the downside trusts are perceived to be expensive and do incur set-up costs and may specify charges for administration, transaction processing and reporting. Also this process can sometimes be complicated and long-winded with time being taken to set-up, organise trustees and so forth. CLOSE eGaming | Full Licence This could be considered the ‘standard’ licence. Full licence holders register their own players and keep their player data, and are responsible for anti-money laundering (AML) and know your customer (KYC) requirements relating to them. Full Licence holders can also allow other businesses to either Sub-Licence or White Label under them. CLOSE eGaming | Sub-Licence Sub-Licence holders must enter into an agreement with a Full Licence holder in order to operate, and they can only offer games they have either produced in-house and/or games the Full Licensee has the rights to offer. White Labels can be offered, and Sub-Licensees keep their player data; although they are responsible for their AML and KYC compliance as though they were a Full Licence holder. CLOSE eGaming | Network Licence These operate the same as a Full Licence, however Network Licence holders have more B2B options to complement their opportunities to Sub-Licence and White Label. Network Licence holders can enter into agreements with other operators located in other jurisdictions, who become known as Network partners once these agreements are in place. Network Licence holders can then allow the Network partner’s registered players to play their games without being required to re-register them, and they also do not have any AML or KYC responsibilities for these players, as this lies with the Network partner. No fees are due to the Gambling Supervision Commission (GSC) for adding Network partners; however they do need to be reassured about the Network partner’s controls before being added. CLOSE Contract Dispute Resolution Although going to court is an option, there are other ways to settle a dispute: > Depending on the value of the claim under the Rules of the High Court of > Justice 2009 you have several options, Small Claims, Summary or Ordinary > Procedures. If your claim is complex, or there are other considerations, you > should speak with us as to the correct procedure for your claim to ensure your > claim is issued correctly. > > Mediation requires a neutral third-party to help reach an agreement between > the parties involved. Mediators are there to assist, and do not decide the > outcome of the dispute. Instead, they look at the situation and help those > involved to understand the issues and clarify the options for a mutually > agreeable resolution. > > There are other methods of resolution which include Adjudication and > Arbitration that can enforce a settlement on the parties involved. These > methods are often expensive and time-consuming. CLOSE Multilingual WordPress with WPML