Companies (Amendment) Law, 2019

AUDITORS OVERSIGHT (AMENDMENT) BILL, 2019

A BILL FOR A LAW TO AMEND THE AUDITORS OVERSIGHT LAW (2017 REVISION) TO MAKE THE FINANCIAL YEAR CONSISTENT WITH THAT OF THE PUBLIC MANAGEMENT AND FINANCE LAW (2018 REVISION); 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 The Bill seeks to amend the Auditors Oversight Law (2017 Revision) to make the financial year of the Authority consistent with the financial year set out in section 2 of the Public Management and Finance Law (2018 Revision).

Clause 1

AUDITORS OVERSIGHT (AMENDMENT) BILL, A BILL FOR A LAW TO AMEND THE AUDITORS OVERSIGHT LAW (2017 REVISION) TO MAKE THE FINANCIAL YEAR CONSISTENT WITH THAT OF THE PUBLIC MANAGEMENT AND FINANCE LAW (2018 REVISION); AND FOR INCIDENTAL AND CONNECTED PURPOSES ENACTED by the Legislature of the Cayman Islands. Short title This Law may be cited as the Auditors Oversight (Amendment) Law, 2019.

Clause 2

Amendment of section 28 of the Auditors Oversight Law (2017 Revision) - accounts The Auditors Oversight Law (2017 Revision) is amended in section 28 by repealing subsection (2) and substituting the following subsection — “(2) The financial year of the Authority shall be as set out in the definition of “financial year” in section 2 of the Public Management and Finance Law (2018 Revision).”.

Passed by the Legislative Assembly the day of

Speaker

Clerk of the Legislative Assembly