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TO REQUIRE THAT CONFLICTS OF INTEREST\nARISING IN RELATION TO VALUATION, SAFEKEEPING OF FUND ASSETS AND\nCASH MONITORING ARE MANAGED AND MONITORED; TO REMOVE THE POWER\nOF CABINET TO EXEMPT PERSONS OR BUSINESSES FROM THE APPLICATION OF\nTHE LAW; 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 Private Funds (Amendment) Law, 2020.\n2.\nAmendment of section 2 of the Private Funds Law, 2020 - interpretation\n2.\nThe Private Funds Law, 2020, in this Law referred to as the \u201cprincipal Law\u201d, is\namended in section 2 by deleting the definition of the words \u201cprivate fund\u201d and by\nsubstituting the following definition \u2014\n\u201c \u201cprivate fund\u201d means a company, unit trust or partnership that\noffers or issues or has issued investment interests, the purpose or\neffect of which is the pooling of investor funds with the aim of\nenabling investors to receive profits or gains from such entity\u2019s\nacquisition, holding, management or disposal of investments,\nwhere \u2014\n(Law 30 of 2020)\nI Assent,\nMartyn Roper\nGovernor\nDate: 7th day of July, 2020\n\nSection 3\nPrivate Funds (Amendment) Law, 2020\n\nPage 6\nLaw 30 of 2020\nc\n\n(a)\nthe holders of investment interests do not have day-to-day\ncontrol over the acquisition, holding, management or disposal\nof the investments; and\n(b) the investments are managed as a whole by or on behalf of the\noperator of the private fund, directly or indirectly,\nbut does not include \u2014\n(i)\na person licensed under the Banks and Trust Companies\nLaw (2020 Revision) or the Insurance Law, 2010;\n(ii) a person registered under the Building Societies Law\n(2020 Revision) or the Friendly Societies Law (1998\nRevision); or\n(iii) any non-fund arrangements;\u201d.\n3.\nAmendment of section 16 - valuation, section 17 - safekeeping of fund assets\nand section 18 - cash monitoring\n3.\nThe principal Law is amended in sections 16(4)(b)(ii), 17(4)(b)(ii) and 18(1)(b)(ii) by\ninserting after the word \u201cidentified\u201d, where it appears in those sections, the words \u201c,\nmanaged, monitored\u201d.\n4.\nAmendment of section 31 - regulations\n4.\nThe principal Law is amended in section 31 by repealing subsection (1)(d).\nPassed by the Legislative Assembly the 1st day of July, 2020.\nHon. Barbara Conolly\nDeputy Speaker\nZena Merren-Chin\nClerk of the Legislative Assembly","akn_extracted_at":"2026-06-22 15:41:36.628521+00","cms_id":"2020-0030","law_type":"amending","year":"2020","number":"30","title":"Health Practice (Designated Health Care Facilities) Order","status":"in_force"},"provenance":{"files":[{"file_id":"6366","expr_id":"1525","kind":"akn_xml","filename":"2020-0030.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2020\/2020-0030\/2020-0030.akn.xml","content_md5":"b085586e8c1edc2b98f234a7b9ba08a4","byte_size":"5734","http_last_modified":null,"fetched_at":"2026-06-22 15:41:36.706957+00"},{"file_id":"3049","expr_id":"1525","kind":"pristine_pdf","filename":"2020-0030.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2020\/2020-0030\/2020-0030.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2020\/2020-0030\/2020-0030.pdf","content_md5":"cbb03a8159ab25212a809adf8f9f7e87","byte_size":"609471","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.825227+00"},{"file_id":"3050","expr_id":"1525","kind":"working_pdf","filename":"2020-0030.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2020\/2020-0030\/2020-0030.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2020\/2020-0030\/2020-0030.pdf","content_md5":"cbb03a8159ab25212a809adf8f9f7e87","byte_size":"609471","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.825227+00"}],"paragraph_count":3,"latest_history":null},"quality":{"expr_id":"1525","doc_id":"1525","quality_state":"known_issue","quality_score":"59","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":"{\"low\": 1, \"high\": 1, \"medium\": 1}","finding_summary":"stored title is not visible in the opening extracted text; repeated line furniture detected: cayman islands x3; law 30 of 2020 x8; private funds amendment law 2020 x5","assessed_at":"2026-06-22 15:29:46.412768+00","updated_at":"2026-06-22 15:29:46.412768+00"}}