The Isle of Man Companies Act 1993 can be found here.
This is another short Act 2 pages S1 permit Isle of Man companies limited by Guarantee or by shares to be formed (and continue) with only one member.
It doesn’t apply to Public Companies.
1 Single member private companies limited by shares or by guarantee
(1) Notwithstanding any enactment or rule of law to the contrary, a private company limited by shares or by guarantee within the meaning of section 1 of the Companies Act 1931 may be formed by one person (in so far as permitted by that section as amended by this Act) and may have one member.
(2) Any enactment or rule of law which applies in relation to a private company limited by shares or by guarantee shall, in the absence of any express provision to the contrary, apply with such modification as may be necessary in relation to such a company which is formed by one person or which has only one person as a member as it does in relation to such a company which is formed by two or more persons or which has two or more persons as members.