14 February 2025: GSC Releases New Role Cessation Form

New Role Cessation Form Released by GSC

The Isle of Man Gambling Supervision Commission (GSC) has today released a new Role Cessation Form (the ‘Form’) which formalises the way in which the GSC are provided with details of a person ceasing a role with a Licence Holder.

 

The form can be found on the Forms & Returns area of our website and should be completed by a Director of a Licence Holder when it is known that an individual holding any of the roles listed below will cease with the Licence Holder:

  • Shareholder with more than 5% holding
  • Designated Official
  • Operations Manager
  • Company Director
  • Investor investing more than £250,000 or more than 25% of the total investment
  • Senior Manager, accountable for the overall corporate strategy
  • Senior Manager with responsibility for information technology; security of registration and games or betting infrastructure
  • Senior Manager with responsibility for regulatory compliance
  • Senior Manager with responsibility for financial control
  • Senior Manager with responsibility for commercial development
  • Money Laundering Reporting Officer (including deputy)
  • AML/CFT Compliance Officer
  • Nominated AML/CFT Compliance Officer
  • Other Senior Management role
  • A shareholder of the Ultimate Parent Company of the Applicant Company with a 5% or less holding
  • A Director of the Ultimate Parent Company of the Applicant Company
  • Investor investing up to or including £250,000 into the applicant company, either directly or indirectly
  • Shareholder with no more than 20% holding of the licence holder/licence applicant via a PLC
  • A stakeholder in the Applicant Company who makes a critical non-financial contribution
  • Beneficiary, Settlor, Trustee or Enforcer of a Trust

 

The Role Cessation Form requires details of the date (or intended date) and the reason for cessation along with details of the proposed replacement.  The form also includes a declaration that ensures the Licence Holder has considered any risks that the operation is exposed to as a result of the change.

 

The form should be completed and signed off by a Director of the Licence Holder and emailed to the Lead Inspector or GSCGeneralSupervision@gov.im.

 

Failure to provide the form will result in longer processing times and additional queries from the Lead Inspector.

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