1. Maintain in force an election under Section 203 (filing of the register of members) of the Companies Act 2006;
2. Register, under Section 138 (registration of charges) of the Companies Act 2006, any charges created over its property;
3. Maintain up to date copies of the minutes of meetings and resolutions respectively of its directors, members, committees of directors and classes of members, as referred to in Section 79 (other records to be maintained by the company) and 84 (records and common seal), at its business premises in the Isle of Man or at the office of the its registered agent;
4. Notify the Authority without delay as soon as it becomes aware of any intention of its registered agent to resign as its registered agent under Section 76 (resignation of registered agent) or Section 77 (registered agent ceasing to be eligible to act) of the 2006 Act, or of its intention to change its registered agent under Section 74 (change of registered office or registered agent) of the 2006 Act;
5. Have only natural persons as directors;
6. Without prejudice to any other applicable regulatory requirement, have at least two directors;
7. Advance approval from the Authority prior to any restructuring including any reductions in share capital;
8. Advance approval from the Authority prior to any merger, consolidation or amalgamation; and
9. Advance approval from the Authority prior to re-registering as a 1931 Act company.
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