The Isle of Man TT Marshals Association (IOMTTMA) could be wound down, and replaced by a new company.
The association is responsible for recruiting and training marshals for the TT and Manx Grand Prix.
IOMTTMA directors say the Department for Enterprise will ratify the new company and its members, saying the existing structure's wider membership restricts its ability to achieve objectives.
The resolution will be discussed by members at an extraordinary general meeting.
A spokesman said the changes mean the TTMA "will be able to lead, influence, advise and direct on investments in safety equipment and training".
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