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TO REQUIRE A TRUST COMPANY TO\nDISCLOSE ITS STATUS AS A TRUSTEE; TO REQUIRE BANKS OR A CAYMAN\nBANKING GROUP TO MAKE PUBLIC DISCLOSURES; AND FOR INCIDENTAL AND\nCONNECTED PURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Law may be cited as the Banks and Trust Companies (Amendment) Law, 2019.\n(Law 17 of 2019)\nI Assent,\nMartyn Roper\nGovernor\nDate: 7th August, 2019\n\nSection 2\nBanks and Trust Companies (Amendment) Law, 2019\n\nPage 6\nLaw 17 of 2019\nc\n\n2.\nAmendment of section 13 of the Banks and Trust Companies Law (2018\nRevision) - obligations of auditors\n2.\nThe Banks and Trust Companies Law (2018 Revision), in this Law referred to as the\n\u201cprincipal Law\u201d, is amended in section 13(1)(e)(ia) by deleting the words \u201cor Part 12\nof the Limited Liability Companies Law (2018 Revision)\u201d and substituting the words\n\u201c, Part 12 of the Limited Liability Companies Law (2018 Revision) or Part 8 of the\nLimited Liability Partnership Law, 2017\u201d.\n3.\nAmendment of section 15 - general requirements for trust companies\n3.\nThe principal Law is amended in section 15 by inserting after subsection (2), the\nfollowing subsection \u2014\n\u201c(3) Where a trust company acting in its capacity as a trustee of a trust\nforms a business relationship or enters into a one-off transaction with\na person conducting relevant financial business under Schedule 6 of\nthe Proceeds of Crime Law (2019 Revision), the trust company\nshall \u2014\n(a) at the time or before the business relationship is formed; or\n(b) at the time or before the transaction is entered into,\ntake reasonable steps to inform the person that the trust company is\ncarrying on trust business and is acting in its capacity as a trustee of\na trust.\u201d.\n4.\nAmendment of section 18 - additional powers of Authority\n4.\nThe principal Law is amended in section 18(1)(ca) by deleting the words \u201cor Part 12\nof the Limited Liability Companies Law (2018 Revision)\u201d and substituting the words\n\u201c, Part 12 of the Limited Liability Companies Law (2018 Revision) or Part 8 of the\nLimited Liability Partnership Law, 2017\u201d.\n5.\nInsertion of section 18A - power to require public disclosures\n5.\nThe principal Law is amended by inserting after section 18, the following section \u2014\n\n\u201cPower to require public disclosures\n18A. The Authority may require a licensee holding a licence to carry on\nbanking business or a Cayman banking group to make public disclosures\nas may be specified by the Authority.\u201d.\n\nBanks and Trust Companies (Amendment) Law, 2019\nSection 6\n\nc\nLaw 17 of 2019\nPage 7\n\n6.\nAmendment of section 22 - power of search\n6.\nThe principal Law is amended in section 22(1) \u2014\n(a)\nby deleting the words \u201cJustice of the Peace\u201d and substituting the word\n\u201cmagistrate\u201d; and\n(b) in paragraph (a), by deleting the words \u201cor Part 12 of the Limited Liability\nCompanies Law (2018 Revision)\u201d and substituting the words \u201c, Part 12 of\nthe Limited Liability Companies Law (2018 Revision) or Part 8 of the\nLimited Liability Partnership Law, 2017\u201d.\nPassed by the Legislative Assembly the 26th day of July, 2019.\n\nHon. W. McKeeva Bush\nSpeaker\n\nZena Merren-Chin\nClerk of the Legislative Assembly","akn_extracted_at":"2026-06-22 15:41:26.179127+00","cms_id":"2019-0017","law_type":"amending","year":"2019","number":"17","title":"Data Protection Regulations","status":"in_force"},"provenance":{"files":[{"file_id":"6328","expr_id":"1487","kind":"akn_xml","filename":"2019-0017.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2019\/2019-0017\/2019-0017.akn.xml","content_md5":"b5c1c6e6ec267d3a28fc0c57a59ea082","byte_size":"6879","http_last_modified":null,"fetched_at":"2026-06-22 15:41:26.234125+00"},{"file_id":"2973","expr_id":"1487","kind":"pristine_pdf","filename":"2019-0017.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2019\/2019-0017\/2019-0017.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2019\/2019-0017\/2019-0017.pdf","content_md5":"c0469199893813b98d09c81e21cc0d44","byte_size":"662073","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.802592+00"},{"file_id":"2974","expr_id":"1487","kind":"working_pdf","filename":"2019-0017.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2019\/2019-0017\/2019-0017.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2019\/2019-0017\/2019-0017.pdf","content_md5":"c0469199893813b98d09c81e21cc0d44","byte_size":"662073","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.802592+00"}],"paragraph_count":7,"latest_history":null},"quality":{"expr_id":"1487","doc_id":"1487","quality_state":"known_issue","quality_score":"51","needs_human_review":"t","deterministic_categories":"{duplicate_text,page_header_footer_noise,title_mismatch}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture,verify_title_metadata}","finding_severity_counts":"{\"high\": 1, \"medium\": 2}","finding_summary":"stored title is not visible in the opening extracted text; repeated line furniture detected: cayman islands x3; banks and trust companies x3; amendment law 2019 x3","assessed_at":"2026-06-22 15:29:46.329551+00","updated_at":"2026-06-22 15:29:46.329551+00"}}