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TO ADJUST THE FINANCIAL YEAR OF THE\nAUTHORITY; AND FOR INCIDENTAL AND CONNECTED PURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Law may be cited as the Monetary Authority (Amendment) (No. 2) Law, 2019.\n2.\nAmendment of section 39 of the Monetary Authority Law (2018 Revision) -\nfinancial year\n2.\nThe Monetary Authority Law (2018 Revision) is amended in section 39 by deleting\nthe words \u201cend on the 30th June\u201d and substituting the words \u201cbe the date set out in\nparagraph (a) of the definition of \u201cfinancial year\u201d in section 2 of the Public\nManagement and Finance Law (2018 Revision).\u201d.\n(Law 20 of 2019)\nI Assent,\nMartyn Roper\nGovernor\nDate: 7th August, 2019\n\nSection 3\nMonetary Authority (Amendment) (No. 2) Law, 2019\n\nPage 4\nLaw 20 of 2019\nc\n\n3.\nAmendment of section 46 of the Monetary Authority Law (2018 Revision) -\nregulations\n3.\nThe Monetary Authority Law (2018 Revision) is amended in section 46 by inserting\nafter subsection (3) the following subsections \u2014\n\u201c(4) Without prejudice to the generality of subsection (1), the Cabinet\nmay, for the purpose of facilitating business continuity and disaster\nrecovery, make regulations that authorize the Authority to exempt\nfrom any provision of this Law or the regulatory laws any person or\nclass of persons that is affected by a disaster for such period of time\nas the Cabinet may stipulate.\n(5) Without prejudice to section 32 of the Interpretation Law (1995\nRevision) or to any other provision of this Law, regulations under\nsubsection (4) may provide for \u2014\n(a)\na financial service business that would otherwise be subject to\nregulatory laws to which the exemption relates and the\nconditions to which the exemption shall be subject;\n(b) circumstances under which the Authority may withdraw the\nexemption from a person or class of persons;\n(c)\nlimitation of the exemption to some or all financial service\nbusinesses that would otherwise be subject to regulatory laws;\nor\n(d) a stipulation that the exemption operates in respect of some or\nall regulated activities.\n(6) For the purposes of this section, \u201cdisaster\u201d shall have the same\nmeaning as in the Disaster Preparedness and Hazard Management\nLaw (2019 Revision).\u201d.\nPassed by the Legislative Assembly the 26th day of July, 2019.\n\nHon. 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