The Isle of Man has adopted a pro-active approach in establishing a legal framework that facilitates secure e-business. In 2000 it moved quickly to enact the Electronic Transactions Act, in order to be one of the first offshore jurisdictions to have e-business legislation on the Statute Book.
The purpose of the Electronic Transactions Act 2000 is to:
- Encourage and facilitate the use of information technology in daily life, by removing legal constraints and doubts affecting the use of electronic communications
- Put electronic commerce and paper-based commerce on the same legal footing
- Remove any legal impediments to the use of electronic communications with public authorities
The Act enables businesses and individuals to use
electronic communications in the course of satisfying their legal
obligations. It is based on two principles: media neutrality and
technological neutrality.
Media Neutrality
Media neutrality means that transactions using paper documents and
those using electronic communications should be treated equally by
the law, and that neither should be given any advantage over the
other.
Technological Neutrality
Technological neutrality means that the law should not discriminate
between different forms of technology - e.g. by specifying
requirements appropriate for one particular form of
communication.
The Isle of Man Government recognises that the development of
legislation in this field must be kept continuously under review,
due to the rapidly changing nature of the industry - and
further legislation will be introduced quickly in the future as the
need arises.