Nothing to stop IOM producing own version of UK 12-sided pound

But still no plans to do so

There are no restrictions on the Island producing it's own version of a 12-sided UK pound coin.

That's according to Treasury Minister Alfred Cannan.

Last week, the UK Treasury announced that the Crown Dependencies and UK overseas territories such as Gibraltar and the Falkland Islands will be able to commission their own designs.

The Manx government has already stated it would NOT be taking up the offer in the short term.

However, speaking in Tynwald on Tuesday, Mr Cannan made it clear that there were no restrictions on the Isle of Man producing its own 12-sided coin.