Health Care Decisions Act

March, 2019. A BILL FOR A LAW TO AMEND THE MONETARY AUTHORITY LAW TO CLARIFY THE DEFINITION OF MONEY LAUNDERING REGULATIONS; AND FOR INCIDENTAL AND CONNECTED PURPOSES

PUBLISHING DETAILS Sponsoring Ministry/Portfolio: Ministry of Financial Services and Home Affairs (FSHA)

Objects and Reasons

Memorandum of OBJECTS AND REASONS This Bill amends the Monetary Authority Law (2018 Revision) to clarify the definition of “money laundering regulations”. Clause 1 of the Bill provides the short title of the legislation. Clause 2 amends the definition of “money laundering regulations” to include regulations made under section 145 of the Proceeds of Crime Law (2019 Revision).

Clause 1

A BILL FOR A LAW TO AMEND THE MONETARY AUTHORITY LAW TO CLARIFY THE DEFINITION OF MONEY LAUNDERING REGULATIONS; AND FOR INCIDENTAL AND CONNECTED PURPOSES ENACTED by the Legislature of the Cayman Islands. Short title This Law may be cited as the Monetary Authority (Amendment) Law, 2019. Amendment of section 2 - definitions The Monetary Authority Law (2018 Revision) is amended in section 2, in the definition of the words “money laundering regulations”, by inserting after the word “under” the words “ section 145 or”.

Passed by the Legislative Assembly the day of

Speaker

Clerk of the Legislative Assembly