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Amendment of section 2 of the Trade and Business Licensing Law (2019 Revision) - 3. Amendment of section 18 of the principal Law - application for grant or renewal of a 4. Amendment of section 19 of the principal Law - restriction on grant or renewal of a 6. Trade and Business Licensing (Amendment) Law, 2019 Law 27 of 2019 TRADE AND BUSINESS LICENSING (AMENDMENT) LAW, 2019 (Law 27 of 2019) A LAW TO AMEND THE TRADE AND BUSINESS LICENSING LAW (2019 REVISION) TO PROVIDE FOR NEW REQUIREMENTS IN RESPECT OF AN APPLICANT WHO IS A DNFBP OR WHO INTENDS TO CARRY ON DNFBP BUSINESS; TO PROVIDE FOR THE BOARD TO SUSPEND OR REVOKE A LICENCE WHERE IT RECEIVES A NOTICE FROM A SUPERVISORY AUTHORITY; TO CREATE THE NEW LICENCE CATEGORY OF DEALER IN PRECIOUS METALS AND STONES; AND FOR INCIDENTAL AND CONNECTED PURPOSES ENACTED by the Legislature of the Cayman Islands.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_1\", \"num\": \"1.\", \"text\": \"Short title 1. This Law may be cited as the Trade and Business Licensing (Amendment) Law, 2019.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of section 2 of the Trade and Business Licensing Law (2019 Revision) - interpretation 2. The Trade and Business Licensing Law (2019 Revision), in this Law referred to as the \u201cprincipal Law\u201d, is amended in section 2 by inserting in the appropriate alphabetical sequence, the following definitions \u2014 \u201c \u201cDNFBP\u201d has the meaning given in section 2(1) of the Anti-Money Laundering Regulations (2018 Revision); (Law 27 of 2019) I Assent, Martyn Roper Governor Date: 2nd day of January, 2020 Trade and Business Licensing (Amendment) Law, 2019 Law 27 of 2019 \u201ccompetent authority\u201d has the meaning given in section 2(1) of the Proceeds of Crime Law (2019 Revision); \u201ceconomic resources\u201d means assets of every kind, whether tangible or intangible, movable or immovable, which are not funds but can be used to obtain funds, goods or services; \u201cfinancing\u201d means the provision of funds or economic resources; \u201cfunds\u201d means financial assets and benefits of every kind, including \u2014 (a) cash, cheques, claims on money, drafts, money orders and other payment instruments; (b) deposits with relevant institutions or other persons, balances on accounts, debts and debt obligations; (c) publicly and privately traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivative products; (d) interest, dividends and other income on or value accruing from or generated by assets; (e) credit, rights of set-off, guarantees, performance bonds and other financial commitments; (f) letters of credit, bills of lading and bills of sale; (g) documents providing evidence of an interest in funds or financial resources; and (h) any other instrument of export financing; \u201cproliferation financing\u201d means the financing of \u2014 (a) the development or production; or (b) the facilitation of the development or production, of nuclear, radiological, biological or chemical weapons or systems for their delivery; and \u201cSupervisory Authority\u201d has the meaning given in section 2(1) of the Anti-Money Laundering Regulations (2018 Revision);\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Amendment of section 18 of the principal Law - application for grant or renewal of a licence 3. The principal Law is amended in section 18 as follows \u2014 (a) in subsection (2), by inserting after paragraph (d) the following paragraph \u2014 Trade and Business Licensing (Amendment) Law, 2019 Law 27 of 2019 \u201c(da) if applicable, evidence of the registration with the relevant Supervisory Authority where the applicant is a DNFBP or intends to carry out business as a DNFBP;\u201d ; (b) in subsection (2E)(a), by deleting the words \u201cor government agency; and\u201d and substituting the words \u201c, government agency, Supervisory Authority or competent authority for anti-money laundering, counter proliferation financing or counter terrorist financing purposes; and\u201d; (c) in subsection (2F), by deleting the words \u201cgovernment department or public authority\u201d and substituting the words \u201cgovernment agency, public authority, Supervisory Authority or competent authority for anti-money laundering, counter proliferation financing or counter terrorist financing purposes,\u201d; (d) by inserting after subsection (2G) the following subsection \u2014 \u201c(2GA)The Board may, to the extent that information is required by a Supervisory Authority or competent authority for anti-money laundering, counter proliferation financing or counter terrorist financing purposes, share through the Secretariat any information held by the Secretariat where subsections (2E)(a) and (b) have been satisfied.\u201d; and (e) in subsection (6), by inserting after the word \u201cprocedures\u201d the words \u201c, including a fit and proper test,\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Amendment of section 19 of the principal Law - restriction on grant or renewal of a licence 4. The principal Law is amended in section 19 as follows \u2014 (a) in subsection (1)(a) \u2014 (i) in subparagraph (v), by deleting the full stop and substituting the words \u201c; or\u201d; and (ii) by inserting after subparagraph (v) the following subparagraph \u2014 \u201c(vi) is a DNFBP or intends to carry on business as a DNFBP and \u2014 (A) is not registered with; or (B) has had its registration cancelled by, the relevant Supervisory Authority;\u201d; and (b) in subsection (1A)(b), by deleting the words \u201cand labour relations\u201d and substituting the words \u201c, labour relations, anti-money laundering, counter proliferation financing and counter terrorist financing\u201d. Trade and Business Licensing (Amendment) Law, 2019 Law 27 of 2019 Amendment of section 29 of the principal Law - suspension or revocation of licence\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"The principal Law is amended in section 29 by inserting after subsection (1) the following subsection \u2014 \u201c(1A) The Board shall, where the licensee is a DNFBP or carrying out business as a DNFBP, upon receipt of a notice pursuant to regulation 55J of the Anti-Money Laundering Regulations (2018 Revision) suspend or revoke a licence.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Amendment of Part B of Schedule 1 of the principal Law - fees 6. The principal Law is amended in Part B of Schedule 1, under the heading \u201cTrades and Technical\u201d, by inserting after item 17 the following item \u2014 \u201c17A.Dealer in Precious Metals and Stones being a person who buys or sells precious metals, precious stones or jewellery in the course of its business activities \u2014 for a business with 800 square feet or less of selling area \u2014 $200 for a business with 801-1200 square feet of selling area \u2014 $450 for a business with 1201-1500 square feet of selling area \u2014 $1200 for a business with 1501-2000 square feet of selling area \u2014 $2000 for a business with 2001-4000 square feet of selling area \u2014 $3000 Trade and Business Licensing (Amendment) Law, 2019 Law 27 of 2019 for a business with more than 4000 square feet of selling area \u2014 $4000.\u201d. Passed by the Legislative Assembly the 6th day of December, 2019. Hon. W. 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TO PROVIDE FOR\nTHE BOARD TO SUSPEND OR REVOKE A LICENCE WHERE IT RECEIVES A\nNOTICE FROM A SUPERVISORY AUTHORITY; TO CREATE THE NEW LICENCE\nCATEGORY OF DEALER IN PRECIOUS METALS AND STONES; AND FOR\nINCIDENTAL AND CONNECTED PURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Law may be cited as the Trade and Business Licensing (Amendment) Law,\n2019.\n2.\nAmendment of section 2 of the Trade and Business Licensing Law (2019\nRevision) - interpretation\n2.\nThe Trade and Business Licensing Law (2019 Revision), in this Law referred to as\nthe \u201cprincipal Law\u201d, is amended in section 2 by inserting in the appropriate\nalphabetical sequence, the following definitions \u2014\n\u201c \u201cDNFBP\u201d has the meaning given in section 2(1) of the\nAnti-Money Laundering Regulations (2018 Revision);\n(Law 27 of 2019)\nI Assent,\nMartyn Roper\nGovernor\nDate: 2nd day of January, 2020\n\nSection 3\nTrade and Business Licensing (Amendment) Law, 2019\n\nPage 6\nLaw 27 of 2019\nc\n\n\u201ccompetent authority\u201d has the meaning given in section 2(1) of\nthe Proceeds of Crime Law (2019 Revision);\n\u201ceconomic resources\u201d means assets of every kind, whether tangible\nor intangible, movable or immovable, which are not funds but can\nbe used to obtain funds, goods or services;\n\u201cfinancing\u201d means the provision of funds or economic resources;\n\u201cfunds\u201d means financial assets and benefits of every kind,\nincluding \u2014\n(a)\ncash, cheques, claims on money, drafts, money orders\nand other payment instruments;\n(b) deposits with relevant institutions or other persons,\nbalances on accounts, debts and debt obligations;\n(c)\npublicly and privately traded securities and debt\ninstruments, including stocks and shares, certificates\nrepresenting\nsecurities,\nbonds,\nnotes,\nwarrants,\ndebentures and derivative products;\n(d) interest, dividends and other income on or value accruing\nfrom or generated by assets;\n(e)\ncredit, rights of set-off, guarantees, performance bonds\nand other financial commitments;\n(f)\nletters of credit, bills of lading and bills of sale;\n(g) documents providing evidence of an interest in funds or\nfinancial resources; and\n(h) any other instrument of export financing;\n\u201cproliferation financing\u201d means the financing of \u2014\n(a)\nthe development or production; or\n(b) the facilitation of the development or production,\nof nuclear, radiological, biological or chemical weapons or systems\nfor their delivery; and\n\u201cSupervisory Authority\u201d has the meaning given in section 2(1) of\nthe Anti-Money Laundering Regulations (2018 Revision);\u201d.\n3.\nAmendment of section 18 of the principal Law - application for grant or\nrenewal of a licence\n3.\nThe principal Law is amended in section 18 as follows \u2014\n(a)\nin subsection (2), by inserting after paragraph (d) the following\nparagraph \u2014\n\nTrade and Business Licensing (Amendment) Law, 2019\nSection 4\n\nc\nLaw 27 of 2019\nPage 7\n\n\u201c(da) if applicable, evidence of the registration with the relevant\nSupervisory Authority where the applicant is a DNFBP or\nintends to carry out business as a DNFBP;\u201d ;\n(b) in subsection (2E)(a), by deleting the words \u201cor government agency;\nand\u201d and substituting the words \u201c, government agency, Supervisory\nAuthority or competent authority for anti-money laundering, counter\nproliferation financing or counter terrorist financing purposes; and\u201d;\n(c)\nin subsection (2F), by deleting the words \u201cgovernment department or\npublic authority\u201d and substituting the words \u201cgovernment agency, public\nauthority, Supervisory Authority or competent authority for anti-money\nlaundering, counter proliferation financing or counter terrorist financing\npurposes,\u201d;\n(d) by inserting after subsection (2G) the following subsection \u2014\n\u201c(2GA)The Board may, to the extent that information is required by a\nSupervisory Authority or competent authority for anti-money\nlaundering, counter proliferation financing or counter terrorist\nfinancing purposes, share through the Secretariat any information\nheld by the Secretariat where subsections (2E)(a) and (b) have\nbeen satisfied.\u201d; and\n(e)\nin subsection (6), by inserting after the word \u201cprocedures\u201d the words \u201c,\nincluding a fit and proper test,\u201d.\n4.\nAmendment of section 19 of the principal Law - restriction on grant or\nrenewal of a licence\n4.\nThe principal Law is amended in section 19 as follows \u2014\n(a)\nin subsection (1)(a) \u2014\n(i)\nin subparagraph (v), by deleting the full stop and substituting the\nwords \u201c; or\u201d; and\n(ii) by inserting after subparagraph (v) the following subparagraph \u2014\n\u201c(vi) is a DNFBP or intends to carry on business as a DNFBP\nand \u2014\n(A) is not registered with; or\n(B) has had its registration cancelled by,\nthe relevant Supervisory Authority;\u201d; and\n(b) in subsection (1A)(b), by deleting the words \u201cand labour relations\u201d and\nsubstituting the words \u201c, labour relations, anti-money laundering, counter\nproliferation financing and counter terrorist financing\u201d.\n\nSection 5\nTrade and Business Licensing (Amendment) Law, 2019\n\nPage 8\nLaw 27 of 2019\nc\n\n5\nAmendment of section 29 of the principal Law - suspension or revocation\nof licence\n5.\nThe principal Law is amended in section 29 by inserting after subsection (1) the\nfollowing subsection \u2014\n\u201c(1A) The Board shall, where the licensee is a DNFBP or carrying out\nbusiness as a DNFBP, upon receipt of a notice pursuant to\nregulation 55J of the Anti-Money Laundering Regulations (2018\nRevision) suspend or revoke a licence.\u201d.\n6.\nAmendment of Part B of Schedule 1 of the principal Law - fees\n6.\nThe principal Law is amended in Part B of Schedule 1, under the heading \u201cTrades\nand Technical\u201d, by inserting after item 17 the following item \u2014\n\u201c17A.Dealer\nin Precious\nMetals and\nStones\nbeing a person who buys or sells\nprecious metals, precious stones or\njewellery in the course of its\nbusiness activities \u2014\n\nfor a business with 800 square\nfeet or less of selling area \u2014\n\n$200\n\nfor a business with 801-1200\nsquare feet of selling area \u2014\n\n$450\n\nfor a business with 1201-1500\nsquare feet of selling area \u2014\n\n$1200\n\nfor a business with 1501-2000\nsquare feet of selling area \u2014\n\n$2000\n\nfor a business with 2001-4000\nsquare feet of selling area \u2014\n\n$3000\n\nTrade and Business Licensing (Amendment) Law, 2019\nSection 6\n\nc\nLaw 27 of 2019\nPage 9\n\nfor a business with more than\n4000 square feet of selling\narea \u2014\n\n$4000.\u201d.\nPassed by the Legislative Assembly the 6th day of December, 2019.\nHon. 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McKeeva Bush\nSpeaker\nZena Merren-Chin\nClerk of the Legislative Assembly","akn_extracted_at":"2026-06-22 15:42:14.074557+00","cms_id":"2019-0027","law_type":"amending","year":"2019","number":"27","title":"Trade and Business Licensing (Amendment) Law, 2019 (Law 27 of 2019)","status":"spent"},"provenance":{"files":[{"file_id":"6335","expr_id":"1494","kind":"akn_xml","filename":"2019-0027.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2019\/2019-0027\/2019-0027.akn.xml","content_md5":"4feaed0c5efe481ffb2e5e5f0ae9886f","byte_size":"10328","http_last_modified":null,"fetched_at":"2026-06-22 15:42:14.13962+00"},{"file_id":"2987","expr_id":"1494","kind":"pristine_pdf","filename":"2019-0027.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2019\/2019-0027\/2019-0027.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2019\/2019-0027\/2019-0027.pdf","content_md5":"58eae2266ad8ce5cfd217c0650bdec00","byte_size":"614938","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.806627+00"},{"file_id":"2988","expr_id":"1494","kind":"working_pdf","filename":"2019-0027.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2019\/2019-0027\/2019-0027.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2019\/2019-0027\/2019-0027.pdf","content_md5":"58eae2266ad8ce5cfd217c0650bdec00","byte_size":"614938","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.806627+00"}],"paragraph_count":12,"latest_history":null},"quality":{"expr_id":"1494","doc_id":"1494","quality_state":"needs_review","quality_score":"76","needs_human_review":"t","deterministic_categories":"{duplicate_text,page_header_footer_noise}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture}","finding_severity_counts":"{\"medium\": 2}","finding_summary":"repeated line furniture detected: cayman islands x3; trade and business licensing x3; amendment law 2019 x3; duplicate-line ratio is 14.29%","assessed_at":"2026-06-22 15:29:46.676776+00","updated_at":"2026-06-22 15:29:46.676776+00"}}