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This Act may be cited as the Private Funds (Amendment) Act, 2026.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of section 2 of the Private Funds Act (2025 Revision) - interpretation 2. The Private Funds Act (2025 Revision), in this Act referred to as the \u201cprincipal Act\u201d, is amended in section 2 as follows \u2014 (a) in the definition of the word \u201cdebt\u201d, by deleting the words \u201cin respect of a share,\u201d and substituting the words \u201cin respect of a share, an LLC interest,\u201d; and (b) by inserting in the appropriate alphabetical sequence the following definitions \u2014 I Assent, Jane Owen Governor Date: 19th March, 2026 Private Funds (Amendment) Act, 2026 \u201c \u201cdigital investment token\u201d means a digital representation of the whole of an investment interest held by an investor in a private fund; \u201cpartnership interest\u201d means the interest of a partner in a partnership in respect of \u2014 (a) the profit; (b) the capital; and (c) the voting or other rights, benefits or obligations, to which the partner is entitled or subject pursuant to the partnership agreement or this Act; and \u201ctokenised private fund\u201d means a private fund that has any of its investment interests represented by digital investment tokens;\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Amendment of section 6 - application to be registered 3. The principal Act is amended in section 6 by inserting after subsection (2) the following subsection \u2014 \u201c(3) A tokenised private fund that applies for registration under subsection (1) shall apply to the Authority in the prescribed manner subject to complying with the following \u2014 (a) the tokenised private fund obtains, and securely maintains, all records relating to the issuance, creation, sale, transfer and ownership of an investment interest that is represented by a digital investment token, including records containing any additional information which may be required by the Authority, and makes these records available to the Authority, or any person assigned by the Authority, within the period specified by the Authority; and (b) the tokenised private fund complies with any other requirement under this Act which is applicable to a tokenised private fund.\u201d. Private Funds (Amendment) Act, 2026\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Insertion of section 19A - specific requirements for tokenised private funds 4. The principal Act is amended by inserting after section 19 the following sections \u2014 \u201cRequirements for tokenised private funds 19A. (1) The requirements in this section apply in respect of a tokenised private fund and are in addition to the other requirements under this Act. (2) The operator of a tokenised private fund shall confirm annually to the Authority that all records relating to the issuance, creation, sale, transfer, and ownership of an investment interest that is represented by a digital investment token have been properly kept and maintained in compliance with the requirements of this Act. (3) An investment interest that is represented by a digital investment token is only transferrable with the approval of the operator of the tokenised private fund in accordance with the offering document. (4) The tokenised private fund shall disclose in the offering document any risks specific to the digital investment tokens identified by the tokenised private fund, including considerations regarding cybersecurity, the transferability of the digital investment token and any other potential risks identified by the Authority. (5) The offering document shall set out how the risks identified in subsection (4) are addressed or mitigated for investors. (6) The Authority may impose specific restrictions on the characteristics of a digital investment token that represents an investment interest created by a tokenised private fund and, where the Authority imposes specific restrictions, the tokenised fund shall ensure that the digital investment token is in compliance with those requirements. (7) The tokenised private fund shall comply with any periodic reporting requirement specified by the Authority under this Act. (8) The Authority \u2014 (a) may request any additional information that is required to enable the Authority to make a decision on an application in respect of a tokenised private fund; and (b) shall monitor on-going compliance of a tokenised private fund with the requirements of this Act. Private Funds (Amendment) Act, 2026 Exercise of supervisory powers by the Authority 19B. The Authority shall exercise supervisory powers over tokenised private funds to ensure compliance with this Act and the protection of investor interests including carrying out inspections of \u2014 (a) the underlying technology; and (b) digital investment token transactions.\u201d. Passed by the Parliament the 5th day of March, 2026. Hon. D. 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TO PROVIDE FOR,\nAMONG OTHER THINGS, DEFINITIONS FOR \u201cDIGITAL INVESTMENT TOKEN\u201d AND\n\u201cTOKENISED PRIVATE FUND\u201d; AND FOR INCIDENTAL AND CONNECTED\nPURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Act may be cited as the Private Funds (Amendment) Act, 2026.\n2.\nAmendment of section 2 of the Private Funds Act (2025 Revision) -\ninterpretation\n2.\nThe Private Funds Act (2025 Revision), in this Act referred to as the \u201cprincipal Act\u201d,\nis amended in section 2 as follows \u2014\n(a)\nin the definition of the word \u201cdebt\u201d, by deleting the words \u201cin respect of a\nshare,\u201d and substituting the words \u201cin respect of a share, an LLC interest,\u201d;\nand\n(b) by inserting in the appropriate alphabetical sequence the following\ndefinitions \u2014\n(Act 6 of 2026)\nI Assent,\nJane Owen\nGovernor\nDate: 19th March, 2026\n\nSection 3\nPrivate Funds (Amendment) Act, 2026\n\nPage 6\nAct 6 of 2026\nc\n\n\u201c \u201cdigital investment token\u201d means a digital representation of the\nwhole of an investment interest held by an investor in a private fund;\n\u201cpartnership interest\u201d means the interest of a partner in a\npartnership in respect of \u2014\n(a) the profit;\n(b) the capital; and\n(c) the voting or other rights, benefits or obligations,\nto which the partner is entitled or subject pursuant to the partnership\nagreement or this Act; and\n\u201ctokenised private fund\u201d means a private fund that has any of its\ninvestment interests represented by digital investment tokens;\u201d.\n3.\nAmendment of section 6 - application to be registered\n3.\nThe principal Act is amended in section 6 by inserting after subsection (2) the\nfollowing subsection \u2014\n\u201c(3) A tokenised private fund that applies for registration under\nsubsection (1) shall apply to the Authority in the prescribed manner\nsubject to complying with the following \u2014\n(a)\nthe tokenised private fund obtains, and securely maintains, all\nrecords relating to the issuance, creation, sale, transfer and\nownership of an investment interest that is represented by a\ndigital investment token, including records containing any\nadditional information which may be required by the Authority,\nand makes these records available to the Authority, or any\nperson assigned by the Authority, within the period specified\nby the Authority; and\n(b) the tokenised private fund complies with any other requirement\nunder this Act which is applicable to a tokenised private fund.\u201d.\n\nPrivate Funds (Amendment) Act, 2026\nSection 4\n\nc\nAct 6 of 2026\nPage 7\n\n4.\nInsertion of section 19A - specific requirements for tokenised private funds\n4.\nThe principal Act is amended by inserting after section 19 the following sections \u2014\n\u201cRequirements for tokenised private funds\n19A. (1) The requirements in this section apply in respect of a tokenised\nprivate fund and are in addition to the other requirements under this\nAct.\n(2) The operator of a tokenised private fund shall confirm annually to the\nAuthority that all records relating to the issuance, creation, sale,\ntransfer, and ownership of an investment interest that is represented\nby a digital investment token have been properly kept and maintained\nin compliance with the requirements of this Act.\n(3) An investment interest that is represented by a digital investment\ntoken is only transferrable with the approval of the operator of the\ntokenised private fund in accordance with the offering document.\n(4) The tokenised private fund shall disclose in the offering document\nany risks specific to the digital investment tokens identified by the\ntokenised\nprivate\nfund,\nincluding\nconsiderations\nregarding\ncybersecurity, the transferability of the digital investment token and\nany other potential risks identified by the Authority.\n(5) The offering document shall set out how the risks identified in\nsubsection (4) are addressed or mitigated for investors.\n(6) The Authority may impose specific restrictions on the characteristics\nof a digital investment token that represents an investment interest\ncreated by a tokenised private fund and, where the Authority imposes\nspecific restrictions, the tokenised fund shall ensure that the digital\ninvestment token is in compliance with those requirements.\n(7) The tokenised private fund shall comply with any periodic reporting\nrequirement specified by the Authority under this Act.\n(8) The Authority \u2014\n(a)\nmay request any additional information that is required to\nenable the Authority to make a decision on an application in\nrespect of a tokenised private fund; and\n(b) shall monitor on-going compliance of a tokenised private fund\nwith the requirements of this Act.\n\nSection 4\nPrivate Funds (Amendment) Act, 2026\n\nPage 8\nAct 6 of 2026\nc\n\nExercise of supervisory powers by the Authority\n19B. The Authority shall exercise supervisory powers over tokenised private\nfunds to ensure compliance with this Act and the protection of investor\ninterests including carrying out inspections of \u2014\n(a)\nthe underlying technology; and\n(b) digital investment token transactions.\u201d.\nPassed by the Parliament the 5th day of March, 2026.\nHon. D. 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