At the sitting of Tynwald Court on 16th July 2009 it was resolved –
“That Tynwald appoints a Committee of three Members with powers to take written and oral evidence pursuant to sections 3 and 4 of the Tynwald Proceedings Act 1876, as amended, to investigate and report on –
(1) the cause of the collapse of Kaupthing Singer and Friedlander (IoM) Limited;
(2) the role of the Financial Supervision Commission in ensuring the proper management of Kaupthing Singer and Friedlander (IoM) Limited to protect depositors‟ funds;
(3) the credibility of the Depositors‟ Compensation Scheme; and
(4) any other relevant matter”