{"kind":"expression","expression":{"expr_id":"1547","doc_id":"1547","label":"Mediation Information and Assessment Rules","is_as_enacted":"f","commenced_on":null,"superseded_on":null,"valid_from":null,"valid_to":null,"is_current":"t","incorporating":null,"akn_expr_iri":"\/akn\/ky\/act\/amending\/2020\/62\/eng@2020-01-01","akn_envelope":"{\"_canary\": {\"iri\": {\"work\": \"\/akn\/ky\/act\/amending\/2020\/62\", \"expression\": \"\/akn\/ky\/act\/amending\/2020\/62\/eng@2020-01-01\", \"manifestation\": \"\/akn\/ky\/act\/amending\/2020\/62\/eng@2020-01-01.pdf\"}, \"pdf\": {\"md5\": \"26f2905e84e1d41267d8b02f46084e52\", \"path\": \"\/Users\/q\/kyleg-data\/working\/AMENDING\/2020\/2020-0062\/2020-0062.pdf\", \"pages\": 14, \"filename\": \"2020-0062.pdf\"}, \"errors\": [], \"extraction\": {\"model\": null, \"stats\": {\"word_count\": 3073, \"paragraph_count\": 15, \"text_char_count\": 19626}, \"usage\": null, \"method\": \"pymupdf-text\", \"version\": \"kyleg-akn-1.0\", \"extracted_at\": \"2026-06-22\"}, \"classification\": \"text_layer\", \"validation_flags\": [], \"docai_processor_id\": null}, \"akomaNtoso\": {\"act\": {\"body\": [{\"eId\": \"sec_n1\", \"num\": null, \"text\": \"Special Economic Zones (Amendment) Act, 2020 SPECIAL ECONOMIC ZONES (AMENDMENT) ACT, 2020 AN ACT TO AMEND THE SPECIAL ECONOMIC ZONES ACT (2017 REVISION) TO PROVIDE FOR ANTI-MONEY LAUNDERING AND COUNTER TERRORIST AND PROLIFERATION FINANCING REQUIREMENTS; 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 Act may be cited \u2014 (a) before its commencement as the Special Economic Zones (Amendment) Law, 2020; and (b) after its commencement as the Special Economic Zones (Amendment) Act, 2020.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of section 2 of the Special Economic Zones Act (2017 Revision) - definitions 2. The Special Economic Zones Act (2017 Revision), in this Act referred to as the \u201cprincipal Act\u201d, is amended in section 2 as follows \u2014 (a) by deleting the definitions of the words \u201cChief Immigration Officer\u201d and \u201cCollector\u201d; and I Assent, Martyn Roper Governor Date: 6th day of January, 2021 Special Economic Zones (Amendment) Act, 2020 (b) by inserting in the appropriate alphabetical sequence the following definitions \u2014 \u201c \u201cbeneficial owner\u201d has the meaning given in regulation 2(1) of the Anti-Money Laundering Regulations (2020 Revision); \u201ccompetent authority\u201d has the meaning given in section 2(1) of the Proceeds of Crime Act (2020 Revision); \u201ccontroller\u201d means a person who has \u2014 (a) the ownership, either directly or indirectly, of ten per cent or more of the issued share capital in a special economic zone enterprise; (b) the ability to, either directly or indirectly, exercise or control the exercise of ten per cent or more of the total voting rights in a special economic zone enterprise; (c) the power to appoint or remove directors of the special economic zone enterprise; (d) the office of the most senior officer responsible for the operations of the special economic zone enterprise; or (e) the authority to issue instructions or directions which the directors of the special economic zone enterprise either directly or indirectly are legally required to act; \u201cDirector of Customs and Border Control\u201d means the officer appointed under section 4 of the Customs and Border Control Act, 2018 to be in charge of Customs and Border Control and includes any officer acting for the Director; \u201cDirector of WORC\u201d means the person appointed under section 6 of the Immigration (Transition) Act, 2018 in control of the Workforce, Opportunities and Residency Cayman Department and includes any person acting for the Director; \u201cproliferation financing\u201d means \u2014 (a) providing funds and economic resources for; or (b) entering into or becoming concerned in, an arrangement that a person knows or suspects facilitates, by whatever means, the acquisition, retention, use or control of funds and economic resources to fund the unauthorized development or production or the facilitation of the development or production of nuclear, radiological, biological or chemical weapons or systems for their delivery; \u201cshareholder\u201d includes beneficial owner; Special Economic Zones (Amendment) Act, 2020 \u201cSupervisory Authority\u201d has the meaning given in section 2(1) of the Proceeds of Crime Act (2020 Revision); and \u201cWORC\u201d means the department of the Government known as the Workforce, Opportunities and Residence Cayman Office continued to be established under section 3 of the Immigration (Transition) Act, 2018;\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Amendment of section 3 - establishment of the Special Economic Zone Authority 3. The principal Act is amended in section 3(2) as follows \u2014 (a) in paragraph (c), by deleting the word \u201cthree\u201d and substituting the word \u201cfour\u201d; and (b) in paragraph (d) as follows \u2014 (i) by deleting subparagraphs (ii) and (iii) and substituting the following subparagraphs \u2014 \u201c(ii) Director of WORC or the designate of the Director of WORC; and (iii) Director of Customs and Border Control or the designate of the Director of Customs and Border Control.\u201d; and (ii) by deleting subparagraph (iv).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Amendment of section 5 - functions of the Authority 4. The principal Act is amended in section 5 \u2014 (a) in subsection (1)(j), by inserting after the word \u201cAct\u201d the words \u201c, the AntiMoney Laundering Regulations (2020 Revision)\u201d; and (b) by inserting after subsection (2) the following subsections \u2014 \u201c(3) The Authority shall, to the extent that information is required and requested in writing by a Supervisory Authority or competent authority for anti-money laundering, counter terrorist financing or counter-proliferation financing purposes, share the required information with the relevant Supervisory Authority or competent authority. (4) The Authority may \u2014 (a) of its own volition; or (b) upon request by a Supervisory Authority or competent authority, through its Secretariat, share or provide any information required for anti-money laundering, counter terrorist financing or counterproliferation financing purposes in accordance with this section. Special Economic Zones (Amendment) Act, 2020 (5) Where information is shared or provided in accordance with subsection (3), unless the recipient is bound by a statutory duty of confidentiality in relation to the information received, the recipient of such information shall \u2014 (a) only use the information for the purpose for which it was shared or provided; (b) only retain the information for as long as is necessary to carry out the purpose for which it was shared or provided; (c) not disclose the information, without the prior consent of the Authority, for any purpose other than the purpose for which it was shared or provided; and (d) provide confirmation in writing that the recipient shall not disclose the information, without the prior consent of the Authority, for any purpose other than the purpose for which it was shared or provided.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Amendment of section 6 - powers of the Authority 5. The principal Act is amended in section 6 as follows \u2014 (a) by deleting subsection (1B) and substituting the following subsections \u2014 \u201c(1B) The Authority may delegate to the Secretariat \u2014 (a) the Authority\u2019s function of \u2014 (i) examining and processing applications with respect to the approval and refusal of applications for renewal; and (ii) amending the applicant\u2019s trade certificate in accordance with section 23 of the Act; and (b) the Authority\u2019s duties under subsection (1C). (1C) The Authority shall \u2014 (a) whenever it thinks fit, examine, by way of the receipt of regular annual returns, or in such other manner as it thinks necessary, the affairs or business of any special economic zone enterprise for the purpose of satisfying itself that the trade certificate and this Act are being complied with; and (b) assist in the investigation of any offence against the laws of the Islands which it has reasonable grounds to believe has, or may have, been committed by a special economic zone enterprise or by any of its controllers, directors or senior officers acting in an official capacity. (1D) In the performance of its functions under this Act, the Authority or the Secretariat to which the Authority\u2019s functions are delegated is Special Economic Zones (Amendment) Act, 2020 entitled at all reasonable times to request to have access to such books, records, vouchers, documents and any other information from the special economic zone enterprise, as the Authority may reasonably require. (1E) A person who fails to comply with any requirement or request of the Authority under this section commits an offence and is liable \u2014 (a) on summary conviction to a fine of ten thousand dollars; or (b) on conviction on indictment to a fine of one hundred thousand dollars, and if the offence for which the person is convicted continues after conviction that person commits a further offence and is liable to a fine of ten thousand dollars for every day on which the offence is so continued. (1F) A person who, knowingly or recklessly, furnishes any information, provides any explanation or makes any statement to the Authority which is false or misleading in a material particular commits an offence and is liable \u2014 (a) on summary conviction to a fine of ten thousand dollars and to imprisonment for six months; or (b) on conviction on indictment to a fine of one hundred thousand dollars and to imprisonment for five years.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Insertion of section 6A - additional powers of the Authority 6. The principal Act is amended by inserting after section 6 the following section \u2014 \u201cAdditional powers of the Authority 6A. Where the Authority is of the opinion that \u2014 (a) a special economic zone enterprise is carrying on business in a manner detrimental to the public interest; (b) a special economic zone enterprise has failed to comply with a condition of its trade certificate; (c) a special economic zone enterprise or its controller, director or senior officer is not a fit and proper person; (d) regulatory, disciplinary or criminal action has been taken against the special economic zone enterprise or a person holding a position as a controller, director or senior officer of a special economic zone enterprise; (e) a person acquiring control or ownership of a special economic zone enterprise is not a fit and proper person; Special Economic Zones (Amendment) Act, 2020 (f) a special economic zone enterprise or its controller, director or senior officer has failed to comply with any requests made by the Authority under section 6; or (g) a special economic zone enterprise has contravened this Act or the regulations, the Authority may \u2014 (i) require the special economic zone enterprise immediately to take steps to rectify the matter; (ii) revoke or suspend the trade certificate issued to the special economic zone enterprise, in accordance with section 26; (iii) impose conditions or further conditions upon the special economic zone enterprise and may amend or revoke any such condition; (iv) require a controller or shareholder of a special economic zone enterprise who is not fit and proper to divest the controller\u2019s or shareholder\u2019s respective shares; (v) require the substitution or removal of any controller, director, or senior officer of the special economic zone enterprise; (vii) impose administrative penalties on the special economic zone enterprise for contravention of this Act; or (viii) require such action to be taken by the special economic zone enterprise as the Authority considers necessary.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_7\", \"num\": \"7.\", \"text\": \"Repeal of section 11 - special economic zone deemed to be outside of the Islands 7. The principal Act is amended by repealing section 11.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_8\", \"num\": \"8.\", \"text\": \"Amendment of section 14 - application for trade certificate 8. The principal Act is amended in section 14 as follows \u2014 (a) by inserting after subsection (1A) the following subsections \u2014 \u201c(1B) An applicant under subsection (1) shall be a fit and proper person. (1C) The controller, beneficial owner, director and senior officer of the applicant referred to in subsection (1B) shall be a fit and proper person. (1D) In determining whether a person is a fit and proper person, the Authority shall have regard to the person\u2019s honesty, integrity and reputation. Special Economic Zones (Amendment) Act, 2020 (1E) Without prejudice to the generality of subsection (1D), regard may be had to the previous conduct and activities in business or financial matters of the person in question and, in particular, to any evidence that the person has \u2014 (a) committed an offence involving money laundering, terrorist financing, proliferation financing, fraud or other dishonesty or violence; (b) contravened any provision made by or under any enactment designed for protecting members of the public against financial loss due to \u2014 (i) dishonesty, incompetence or malpractice by persons concerned in the provision of services or the management of companies or other legal entities; or (ii) the conduct of discharged or undischarged bankrupts; or (c) engaged in any business practices appearing to be deceitful or oppressive or otherwise improper (whether lawful or not) or which discredit the person\u2019s method of conducting business. (1F) The Authority may issue guidelines for the determination of fitness and propriety under subsection (1D).\u201d; and (b) by inserting after subsection (5) the following subsection \u2014 \u201c(6) Where an applicant for a trade certificate is a person who commits an offence under subsection (4), the Authority may refuse to grant a trade certificate to the applicant for a period of five years commencing from the date of conviction for the offence.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_9\", \"num\": \"9.\", \"text\": \"Amendment of section 16 - grant or refusal of trade certificate 9. The principal Act is amended in section 16 as follows \u2014 (a) by renumbering section 16 as section 16(1); and (b) by inserting after section 16(1) as renumbered the following subsection \u2014 \u201c(2) The Authority shall not approve a trade certificate application where the Authority considers that \u2014 (a) the grant of the application is not in the public interest, including where it presents a high level of reputational risk for the jurisdiction; (b) the applicant for a trade certificate is not a fit and proper person; (c) the applicant has contravened section 14(4); or Special Economic Zones (Amendment) Act, 2020 (d) the applicant for a trade certificate has a controller, beneficial owner, director, senior officer or shareholder that is not a fit and proper person.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_10\", \"num\": \"10.\", \"text\": \"Amendment of section 18 - benefits of special economic zone enterprise and conditions 10. The principal Act is amended in section 18 by inserting after subsection (1) the following subsection \u2014 \u201c(1A) A special economic zone enterprise shall comply with all laws in force in the Islands, notwithstanding the benefits referred to in subsection (1) and any other exceptions specified in this Act.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_11\", \"num\": \"11.\", \"text\": \"Insertion of section 24A - notification of material changes 11. The principal Act is amended by inserting after section 24 the following section \u2014 \u201cNotification of material changes 24A. A special economic zone enterprise, upon paying the prescribed amendment fee specified in section 23, shall notify the Authority of any material change to its business activities, controllers, directors or shareholders within twenty-one days of such change.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_12\", \"num\": \"12.\", \"text\": \"Amendment of section 26 - suspension or revocation of trade certificate 12. The principal Act is amended by repealing section 26(1) and substituting the following subsections \u2014 \u201c(1) Where a special economic zone enterprise \u2014 (a) contravenes \u2014 (i) the provisions of this Act or the Regulations; or (ii) the terms and conditions of its trade certificate; (b) is convicted of an offence under the Proceeds of Crime Act (2020 Revision) or an allegation of criminal conduct has been made involving the special economic zone enterprise in the context of civil recovery proceeding under the Proceeds of Crime Act (2020 Revision); (c) is the subject of a notification from a Supervisory Authority to the Authority that the special economic zone enterprise has contravened the Anti-Money Laundering Regulations (2020 Revision) or is convicted for an offence for contravening the Anti-Money Laundering Regulations (2020 Revision); (d) has a controller, director, senior officer or shareholder or beneficial owner who is not a fit and proper person; or Special Economic Zones (Amendment) Act, 2020 (e) makes any representation or statement that the special economic zone enterprise knows is false or misleading in a material particular in relation to any information or particulars that the special economic zone enterprise is required to furnish pursuant to this Act, the Authority, after proper notice and hearing, may suspend or revoke the trade certificate. (1A) Where the Authority has revoked the trade certificate of a special economic zone enterprise pursuant to subsection (1)(e), the Authority shall not approve a subsequent application for a trade certificate in respect of that special economic zone enterprise for a period of three years from the date of the revocation.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_13\", \"num\": \"13.\", \"text\": \"Insertion of section 29C - annual return 13. The principal Act is amended by inserting after section 29B the following section \u2014 \u201cAnnual return 29C (1) A special economic zone enterprise shall submit an annual return to the Authority on or before the 31st day of January of every year and the annual return shall accompany the prescribed annual fee specified in section 22(2) of the Act unless otherwise prescribed by Regulations made under subsection (2). (2) The annual return referred to in subsection (1) shall be submitted in the form and in the manner prescribed by Regulations made by the Cabinet.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_14\", \"num\": \"14.\", \"text\": \"Amendment of section 30 - regulations 14. The principal Act is amended in section 30 by inserting after paragraph (e) the following paragraphs \u2014 \u201c(ea) prescribe the form of any return required to be submitted under this Act; (eb) prescribe administrative fines, and the forms and procedures for the payment of such fines, to be imposed by the Authority under this Act; Special Economic Zones (Amendment) Act, 2020 (ec) prescribe for appeals against the imposition of administrative fines;\u201d. Passed by the Parliament the 16th day of December, 2020. Hon. W. 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definitions ........5\n3.\nAmendment of section 3 - establishment of the Special Economic Zone Authority .....................7\n4.\nAmendment of section 5 - functions of the Authority ..................................................................7\n5.\nAmendment of section 6 - powers of the Authority .....................................................................8\n6.\nInsertion of section 6A - additional powers of the Authority ........................................................9\n7.\nRepeal of section 11 - special economic zone deemed to be outside of the Islands ................. 10\n8.\nAmendment of section 14 - application for trade certificate ...................................................... 10\n9.\nAmendment of section 16 - grant or refusal of trade certificate ................................................. 11\n10.\nAmendment of section 18 - benefits of special economic zone enterprise and conditions ........ 12\n11.\nInsertion of section 24A - notification of material changes ........................................................ 12\n12.\nAmendment of section 26 - suspension or revocation of trade certificate ................................. 12\n13.\nInsertion of section 29C - annual return ................................................................................... 13\n14.\nAmendment of section 30 - regulations .................................................................................... 13\n\nSpecial Economic Zones (Amendment) Act, 2020\nSection 1\n\nc\nAct 62 of 2020\nPage 5\n\nCAYMAN ISLANDS\n\nSPECIAL ECONOMIC ZONES (AMENDMENT)\nACT, 2020\n(Act 62 of 2020)\nAN ACT TO AMEND THE SPECIAL ECONOMIC ZONES ACT (2017 REVISION) TO\nPROVIDE FOR ANTI-MONEY LAUNDERING AND COUNTER TERRORIST AND\nPROLIFERATION FINANCING REQUIREMENTS; AND FOR INCIDENTAL AND\nCONNECTED PURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Act may be cited \u2014\n(a)\nbefore its commencement as the Special Economic Zones (Amendment)\nLaw, 2020; and\n(b) after its commencement as the Special Economic Zones (Amendment) Act,\n2020.\n2.\nAmendment of section 2 of the Special Economic Zones Act (2017 Revision)\n- definitions\n2.\nThe Special Economic Zones Act (2017 Revision), in this Act referred to as the\n\u201cprincipal Act\u201d, is amended in section 2 as follows \u2014\n(a)\nby deleting the definitions of the words \u201cChief Immigration Officer\u201d and\n\u201cCollector\u201d; and\n(Act 62 of 2020)\nI Assent,\nMartyn Roper\nGovernor\nDate: 6th day of January, 2021\n\nSection 2\nSpecial Economic Zones (Amendment) Act, 2020\n\nPage 6\nAct 62 of 2020\nc\n\n(b) by inserting in the appropriate alphabetical sequence the following\ndefinitions \u2014\n\u201c \u201cbeneficial owner\u201d has the meaning given in regulation 2(1) of the\nAnti-Money Laundering Regulations (2020 Revision);\n\u201ccompetent authority\u201d has the meaning given in section 2(1) of the\nProceeds of Crime Act (2020 Revision);\n\u201ccontroller\u201d means a person who has \u2014\n(a) the ownership, either directly or indirectly, of ten per cent or\nmore of the issued share capital in a special economic zone\nenterprise;\n(b) the ability to, either directly or indirectly, exercise or control the\nexercise of ten per cent or more of the total voting rights in a\nspecial economic zone enterprise;\n(c) the power to appoint or remove directors of the special economic\nzone enterprise;\n(d) the office of the most senior officer responsible for the operations\nof the special economic zone enterprise; or\n(e) the authority to issue instructions or directions which the\ndirectors of the special economic zone enterprise either directly\nor indirectly are legally required to act;\n\u201cDirector of Customs and Border Control\u201d means the officer\nappointed under section 4 of the Customs and Border Control Act,\n2018 to be in charge of Customs and Border Control and includes\nany officer acting for the Director;\n\u201cDirector of WORC\u201d means the person appointed under section 6\nof the Immigration (Transition) Act, 2018 in control of the\nWorkforce, Opportunities and Residency Cayman Department and\nincludes any person acting for the Director;\n\u201cproliferation financing\u201d means \u2014\n(a) providing funds and economic resources for; or\n(b) entering into or becoming concerned in,\nan arrangement that a person knows or suspects facilitates, by\nwhatever means, the acquisition, retention, use or control of funds\nand economic resources to fund the unauthorized development or\nproduction or the facilitation of the development or production of\nnuclear, radiological, biological or chemical weapons or systems for\ntheir delivery;\n\u201cshareholder\u201d includes beneficial owner;\n\nSpecial Economic Zones (Amendment) Act, 2020\nSection 3\n\nc\nAct 62 of 2020\nPage 7\n\n\u201cSupervisory Authority\u201d has the meaning given in section 2(1) of\nthe Proceeds of Crime Act (2020 Revision); and\n\u201cWORC\u201d means the department of the Government known as the\nWorkforce, Opportunities and Residence Cayman Office continued\nto be established under section 3 of the Immigration (Transition) Act,\n2018;\u201d.\n3.\nAmendment of section 3 - establishment of the Special Economic Zone\nAuthority\n3.\nThe principal Act is amended in section 3(2) as follows \u2014\n(a)\nin paragraph (c), by deleting the word \u201cthree\u201d and substituting the word\n\u201cfour\u201d; and\n(b) in paragraph (d) as follows \u2014\n(i)\nby deleting subparagraphs (ii) and (iii) and substituting the following\nsubparagraphs \u2014\n\u201c(ii) Director of WORC or the designate of the Director of\nWORC; and\n(iii) Director of Customs and Border Control or the designate\nof the Director of Customs and Border Control.\u201d; and\n(ii) by deleting subparagraph (iv).\n4.\nAmendment of section 5 - functions of the Authority\n4.\nThe principal Act is amended in section 5 \u2014\n(a)\nin subsection (1)(j), by inserting after the word \u201cAct\u201d the words \u201c, the AntiMoney Laundering Regulations (2020 Revision)\u201d; and\n(b) by inserting after subsection (2) the following subsections \u2014\n\u201c(3) The Authority shall, to the extent that information is required and\nrequested in writing by a Supervisory Authority or competent\nauthority for anti-money laundering, counter terrorist financing or\ncounter-proliferation financing purposes, share the required\ninformation with the relevant Supervisory Authority or competent\nauthority.\n(4) The Authority may \u2014\n(a)\nof its own volition; or\n(b) upon request by a Supervisory Authority or competent\nauthority,\nthrough its Secretariat, share or provide any information required for\nanti-money laundering, counter terrorist financing or counterproliferation financing purposes in accordance with this section.\n\nSection 5\nSpecial Economic Zones (Amendment) Act, 2020\n\nPage 8\nAct 62 of 2020\nc\n\n(5) Where information is shared or provided in accordance with\nsubsection (3), unless the recipient is bound by a statutory duty of\nconfidentiality in relation to the information received, the recipient of\nsuch information shall \u2014\n(a)\nonly use the information for the purpose for which it was shared\nor provided;\n(b) only retain the information for as long as is necessary to carry\nout the purpose for which it was shared or provided;\n(c)\nnot disclose the information, without the prior consent of the\nAuthority, for any purpose other than the purpose for which it\nwas shared or provided; and\n(d) provide confirmation in writing that the recipient shall not\ndisclose the information, without the prior consent of the\nAuthority, for any purpose other than the purpose for which it\nwas shared or provided.\u201d.\n5.\nAmendment of section 6 - powers of the Authority\n5.\nThe principal Act is amended in section 6 as follows \u2014\n(a)\nby deleting subsection (1B) and substituting the following subsections \u2014\n\u201c(1B) The Authority may delegate to the Secretariat \u2014\n(a)\nthe Authority\u2019s function of \u2014\n(i)\nexamining and processing applications with respect to the\napproval and refusal of applications for renewal; and\n(ii) amending the applicant\u2019s trade certificate in accordance\nwith section 23 of the Act; and\n(b) the Authority\u2019s duties under subsection (1C).\n(1C) The Authority shall \u2014\n(a) whenever it thinks fit, examine, by way of the receipt of regular\nannual returns, or in such other manner as it thinks necessary,\nthe affairs or business of any special economic zone enterprise\nfor the purpose of satisfying itself that the trade certificate and\nthis Act are being complied with; and\n(b) assist in the investigation of any offence against the laws of the\nIslands which it has reasonable grounds to believe has, or may\nhave, been committed by a special economic zone enterprise or\nby any of its controllers, directors or senior officers acting in an\nofficial capacity.\n(1D) In the performance of its functions under this Act, the Authority or\nthe Secretariat to which the Authority\u2019s functions are delegated is\n\nSpecial Economic Zones (Amendment) Act, 2020\nSection 6\n\nc\nAct 62 of 2020\nPage 9\n\nentitled at all reasonable times to request to have access to such\nbooks, records, vouchers, documents and any other information from\nthe special economic zone enterprise, as the Authority may\nreasonably require.\n(1E) A person who fails to comply with any requirement or request of the\nAuthority under this section commits an offence and is liable \u2014\n(a)\non summary conviction to a fine of ten thousand dollars; or\n(b) on conviction on indictment to a fine of one hundred thousand\ndollars,\nand if the offence for which the person is convicted continues after\nconviction that person commits a further offence and is liable to a\nfine of ten thousand dollars for every day on which the offence is so\ncontinued.\n(1F) A person who, knowingly or recklessly, furnishes any information,\nprovides any explanation or makes any statement to the Authority\nwhich is false or misleading in a material particular commits an\noffence and is liable \u2014\n(a)\non summary conviction to a fine of ten thousand dollars and to\nimprisonment for six months; or\n(b) on conviction on indictment to a fine of one hundred thousand\ndollars and to imprisonment for five years.\u201d.\n6.\nInsertion of section 6A - additional powers of the Authority\n6.\nThe principal Act is amended by inserting after section 6 the following section \u2014\n\u201cAdditional powers of the Authority\n6A. Where the Authority is of the opinion that \u2014\n(a)\na special economic zone enterprise is carrying on business in a\nmanner detrimental to the public interest;\n(b) a special economic zone enterprise has failed to comply with a\ncondition of its trade certificate;\n(c)\na special economic zone enterprise or its controller, director or\nsenior officer is not a fit and proper person;\n(d) regulatory, disciplinary or criminal action has been taken\nagainst the special economic zone enterprise or a person\nholding a position as a controller, director or senior officer of a\nspecial economic zone enterprise;\n(e)\na person acquiring control or ownership of a special economic\nzone enterprise is not a fit and proper person;\n\nSection 7\nSpecial Economic Zones (Amendment) Act, 2020\n\nPage 10\nAct 62 of 2020\nc\n\n(f)\na special economic zone enterprise or its controller, director or\nsenior officer has failed to comply with any requests made by\nthe Authority under section 6; or\n(g) a special economic zone enterprise has contravened this Act or\nthe regulations,\nthe Authority may \u2014\n(i)\nrequire the special economic zone enterprise immediately\nto take steps to rectify the matter;\n(ii) revoke or suspend the trade certificate issued to the special\neconomic zone enterprise, in accordance with section 26;\n(iii) impose conditions or further conditions upon the special\neconomic zone enterprise and may amend or revoke any\nsuch condition;\n(iv) require a controller or shareholder of a special economic\nzone enterprise who is not fit and proper to divest the\ncontroller\u2019s or shareholder\u2019s respective shares;\n(v) require the substitution or removal of any controller,\ndirector, or senior officer of the special economic zone\nenterprise;\n(vii) impose administrative penalties on the special economic\nzone enterprise for contravention of this Act; or\n(viii) require such action to be taken by the special economic\nzone enterprise as the Authority considers necessary.\u201d.\n7.\nRepeal of section 11 - special economic zone deemed to be outside of the\nIslands\n7.\nThe principal Act is amended by repealing section 11.\n8.\nAmendment of section 14 - application for trade certificate\n8.\nThe principal Act is amended in section 14 as follows \u2014\n(a)\nby inserting after subsection (1A) the following subsections \u2014\n\u201c(1B) An applicant under subsection (1) shall be a fit and proper person.\n(1C) The controller, beneficial owner, director and senior officer of the\napplicant referred to in subsection (1B) shall be a fit and proper\nperson.\n(1D) In determining whether a person is a fit and proper person, the\nAuthority shall have regard to the person\u2019s honesty, integrity and\nreputation.\n\nSpecial Economic Zones (Amendment) Act, 2020\nSection 9\n\nc\nAct 62 of 2020\nPage 11\n\n(1E) Without prejudice to the generality of subsection (1D), regard may\nbe had to the previous conduct and activities in business or financial\nmatters of the person in question and, in particular, to any evidence\nthat the person has \u2014\n(a)\ncommitted an offence involving money laundering, terrorist\nfinancing, proliferation financing, fraud or other dishonesty or\nviolence;\n(b) contravened any provision made by or under any enactment\ndesigned for protecting members of the public against financial\nloss due to \u2014\n(i)\ndishonesty, incompetence or malpractice by persons\nconcerned in the provision of services or the management\nof companies or other legal entities; or\n(ii) the conduct of discharged or undischarged bankrupts; or\n(c)\nengaged in any business practices appearing to be deceitful or\noppressive or otherwise improper (whether lawful or not) or\nwhich discredit the person\u2019s method of conducting business.\n(1F)\nThe Authority may issue guidelines for the determination of fitness\nand propriety under subsection (1D).\u201d; and\n(b) by inserting after subsection (5) the following subsection \u2014\n\u201c(6) Where an applicant for a trade certificate is a person who commits an\noffence under subsection (4), the Authority may refuse to grant a\ntrade certificate to the applicant for a period of five years\ncommencing from the date of conviction for the offence.\u201d.\n9.\nAmendment of section 16 - grant or refusal of trade certificate\n9.\nThe principal Act is amended in section 16 as follows \u2014\n(a)\nby renumbering section 16 as section 16(1); and\n(b) by inserting after section 16(1) as renumbered the following subsection \u2014\n\u201c(2) The Authority shall not approve a trade certificate application where\nthe Authority considers that \u2014\n(a) the grant of the application is not in the public interest,\nincluding where it presents a high level of reputational risk for\nthe jurisdiction;\n(b) the applicant for a trade certificate is not a fit and proper person;\n(c) the applicant has contravened section 14(4); or\n\nSection 10\nSpecial Economic Zones (Amendment) Act, 2020\n\nPage 12\nAct 62 of 2020\nc\n\n(d) the applicant for a trade certificate has a controller, beneficial\nowner, director, senior officer or shareholder that is not a fit and\nproper person.\u201d.\n10.\nAmendment of section 18 - benefits of special economic zone enterprise and\nconditions\n10. The principal Act is amended in section 18 by inserting after subsection (1) the\nfollowing subsection \u2014\n\u201c(1A) A special economic zone enterprise shall comply with all laws in\nforce in the Islands, notwithstanding the benefits referred to in\nsubsection (1) and any other exceptions specified in this Act.\u201d.\n11.\nInsertion of section 24A - notification of material changes\n11. The principal Act is amended by inserting after section 24 the following section \u2014\n\u201cNotification of material changes\n24A. A special economic zone enterprise, upon paying the prescribed\namendment fee specified in section 23, shall notify the Authority of any\nmaterial change to its business activities, controllers, directors or\nshareholders within twenty-one days of such change.\u201d.\n12.\nAmendment of section 26 - suspension or revocation of trade certificate\n12. The principal Act is amended by repealing section 26(1) and substituting the\nfollowing subsections \u2014\n\u201c(1) Where a special economic zone enterprise \u2014\n(a) contravenes \u2014\n(i)\nthe provisions of this Act or the Regulations; or\n(ii)\nthe terms and conditions of its trade certificate;\n(b) is convicted of an offence under the Proceeds of Crime Act (2020\nRevision) or an allegation of criminal conduct has been made\ninvolving the special economic zone enterprise in the context of\ncivil recovery proceeding under the Proceeds of Crime Act\n(2020 Revision);\n(c) is the subject of a notification from a Supervisory Authority to\nthe Authority that the special economic zone enterprise has\ncontravened the Anti-Money Laundering Regulations (2020\nRevision) or is convicted for an offence for contravening the\nAnti-Money Laundering Regulations (2020 Revision);\n(d) has a controller, director, senior officer or shareholder or\nbeneficial owner who is not a fit and proper person; or\n\nSpecial Economic Zones (Amendment) Act, 2020\nSection 13\n\nc\nAct 62 of 2020\nPage 13\n\n(e) makes any representation or statement that the special economic\nzone enterprise knows is false or misleading in a material\nparticular in relation to any information or particulars that the\nspecial economic zone enterprise is required to furnish pursuant\nto this Act,\nthe Authority, after proper notice and hearing, may suspend or revoke\nthe trade certificate.\n(1A) Where the Authority has revoked the trade certificate of a special\neconomic zone enterprise pursuant to subsection (1)(e), the Authority\nshall not approve a subsequent application for a trade certificate in\nrespect of that special economic zone enterprise for a period of three\nyears from the date of the revocation.\u201d.\n13.\nInsertion of section 29C - annual return\n13. The principal Act is amended by inserting after section 29B the following section \u2014\n\u201cAnnual return\n29C (1)\nA special economic zone enterprise shall submit an annual return to\nthe Authority on or before the 31st day of January of every year and\nthe annual return shall accompany the prescribed annual fee specified\nin section 22(2) of the Act unless otherwise prescribed by\nRegulations made under subsection (2).\n(2) The annual return referred to in subsection (1) shall be submitted in\nthe form and in the manner prescribed by Regulations made by the\nCabinet.\u201d.\n14.\nAmendment of section 30 - regulations\n14. The principal Act is amended in section 30 by inserting after paragraph (e) the\nfollowing paragraphs \u2014\n\u201c(ea) prescribe the form of any return required to be submitted under\nthis Act;\n(eb) prescribe administrative fines, and the forms and procedures for\nthe payment of such fines, to be imposed by the Authority under\nthis Act;\n\nSection 14\nSpecial Economic Zones (Amendment) Act, 2020\n\nPage 14\nAct 62 of 2020\nc\n\n(ec) prescribe for appeals against the imposition of administrative\nfines;\u201d.\n\nPassed by the Parliament the 16th day of December, 2020.\nHon. W. McKeeva Bush\nSpeaker\nZena Merren-Chin\nClerk of the Parliament","akn_extracted_at":"2026-06-22 15:41:47.724878+00","cms_id":"2020-0062","law_type":"amending","year":"2020","number":"62","title":"Mediation Information and Assessment Rules","status":"in_force"},"provenance":{"files":[{"file_id":"6388","expr_id":"1547","kind":"akn_xml","filename":"2020-0062.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2020\/2020-0062\/2020-0062.akn.xml","content_md5":"c33f18ac0cf9c63e077d306f79d02d5c","byte_size":"21591","http_last_modified":null,"fetched_at":"2026-06-22 15:41:47.841902+00"},{"file_id":"3093","expr_id":"1547","kind":"pristine_pdf","filename":"2020-0062.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2020\/2020-0062\/2020-0062.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2020\/2020-0062\/2020-0062.pdf","content_md5":"26f2905e84e1d41267d8b02f46084e52","byte_size":"791118","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.8391+00"},{"file_id":"3094","expr_id":"1547","kind":"working_pdf","filename":"2020-0062.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2020\/2020-0062\/2020-0062.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2020\/2020-0062\/2020-0062.pdf","content_md5":"26f2905e84e1d41267d8b02f46084e52","byte_size":"791118","http_last_modified":null,"fetched_at":"2026-06-16 04:01:10.8391+00"}],"paragraph_count":6,"latest_history":null},"quality":{"expr_id":"1547","doc_id":"1547","quality_state":"known_issue","quality_score":"55","needs_human_review":"t","deterministic_categories":"{commencement_metadata_problem,duplicate_text,page_header_footer_noise,title_mismatch}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture,verify_commencement_metadata,verify_title_metadata}","finding_severity_counts":"{\"low\": 2, \"high\": 1, \"medium\": 1}","finding_summary":"stored title is not visible in the opening extracted text; repeated line furniture detected: cayman islands x3; act 62 of 2020 x16; special economic zones amendment act 2020 x11","assessed_at":"2026-06-22 15:29:46.483504+00","updated_at":"2026-06-22 15:29:46.483504+00"}}