Securities Investment Business (Amendment) (No.2) Law, 2020 (Law 51 of 2020)

SECURITIES INVESTMENT BUSINESS (AMENDMENT) (NO.2) LAW, 2020

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Securities Investment Business (Amendment) (No.2) Law, 2020

SECURITIES INVESTMENT BUSINESS (AMENDMENT) (NO.2) LAW, 2020 A LAW TO AMEND THE SECURITIES INVESTMENT BUSINESS LAW (2020 REVISION) TO INCLUDE LIMITED LIABILITY PARTNERSHIPS IN THE DEFINITION OF PARTNERSHIP; TO INCLUDE INTERESTS IN A LIMITED LIABILITY PARTNERSHIP AS A SECURITY; AND FOR INCIDENTAL AND CONNECTED PURPOSES ENACTED by the Legislature of the Cayman Islands. Short title and commencement (1) This Law may be cited as the Securities Investment Business (Amendment) (No.2) Law, 2020. (2) This Law comes into force immediately after the Limited Liability Partnership (Amendment) (No.2) Law, 2020 comes into force. Amendment of section 2 of the Securities Investment Business Law (2020 Revision) - definitions The Securities Investment Business Law (2020 Revision) is amended in section 2 by deleting the definition of the word “partnership” and substituting the following definition — “partnership” means — I Assent, Martyn Roper Governor Date: 11th day of November, 2020

Securities Investment Business (Amendment) (No.2) Law, 2020

(a) a general or limited partnership established under the Partnership Law (2013 Revision); (b) an exempted limited partnership registered under the Exempted Limited Partnership Law (2018 Revision); a limited liability partnership formed and registered under the Limited Liability Partnership Law, 2017; or (d) a partnership or limited liability partnership established under the laws of a jurisdiction other than the Islands;”. Amendment of Schedule 1 of the Securities Investment Business Law (2020 Revision) - securities The Securities Investment Business Law (2020 Revision) is amended in Schedule 1, under the heading “Shares”, in paragraph 1 as follows — (a) by inserting after subparagraph (c), the following subparagraph — “(ca) interests in a limited liability partnership which is formed and registered under the Limited Liability Partnership Law, 2017; and (b) by repealing subparagraph (d) and substituting the following subparagraph — “(d) interests in — (i) a limited partnership; (ii) an exempted limited partnership; or (iii) a limited liability partnership, which is established under the laws of a jurisdiction other than the Islands; and”. Passed by the Legislative Assembly the 30th day of October, 2020. Hon. W. McKeeva Bush Speaker Zena Merren-Chin Clerk of the Legislative Assembly