TECHNICAL CHANGES TO MEDICINAL CANNABIS REGULATION PROPOSED TO TYNWALD

The Isle of Man Gambling Supervision Commission (GSC) is bringing forward proposals to change an operational element of the regulation of Medicinal Cannabis Export licences for approval in June’s Tynwald sitting.

Dr Alex Allinson MHK, Treasury Minister, commented:

‘The changes to the Medicinal Cannabis Export licences proposed to Tynwald are of a technical nature and will provide more targeted powers to the GSC to support their ongoing consideration of applicants' information.

‘Since opening applications last year and advancing through the process with a number of candidates, it has become clear that further development of the licencing framework was required to ensure the GSC have clear powers to appropriately consider and process personal information in the normal vetting of applicants. 

‘The Isle of Man prides itself on being a well-regulated jurisdiction, and strives to ensure that businesses which choose to operate here agree that regulation is appropriate and proportionate to their needs.’

Following the opening of applications for the Isle of Man’s Medicinal Cannabis Export sector in summer 2021, a number of individuals and businesses have positively expressed interest in obtaining an Isle of Man licence.

Subject to approval from Tynwald on the proposed regulatory changes for Medicinal Cannabis Export licences, the GSC will be working swiftly to finalise the first licences.