{"kind":"expression","expression":{"expr_id":"1982","doc_id":"1982","label":"Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 (SL 150 of 2020)","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\/150\/eng@2020-01-01","akn_envelope":"{\"_canary\": {\"iri\": {\"work\": \"\/akn\/ky\/act\/amending\/2020\/150\", \"expression\": \"\/akn\/ky\/act\/amending\/2020\/150\/eng@2020-01-01\", \"manifestation\": \"\/akn\/ky\/act\/amending\/2020\/150\/eng@2020-01-01.pdf\"}, \"pdf\": {\"md5\": \"06017be1c42444a6ea3043b812c6c966\", \"path\": \"\/Users\/q\/kyleg-data\/working\/AMENDING\/2020\/2020-0150\/2020-0150.pdf\", \"pages\": 13, \"filename\": \"2020-0150.pdf\"}, \"errors\": [], \"extraction\": {\"model\": null, \"stats\": {\"word_count\": 2603, \"paragraph_count\": 18, \"text_char_count\": 18577}, \"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\": \"Limited Liability Partnership Law, 2017 (Law 13 of 2017) BENEFICIAL OWNERSHIP (LIMITED LIABILITY PARTNERSHIP) (AMENDMENT) REGULATIONS, 2020 (SL 150 of 2020) SL 150 of 2020 PUBLISHING DETAILS Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 Arrangement of Regulations SL 150 of 2020 Limited Liability Partnership Law, 2017 (Law 13 of 2017) BENEFICIAL OWNERSHIP (LIMITED LIABILITY PARTNERSHIP) (AMENDMENT) REGULATIONS, 2020 (SL 150 of 2020) Arrangement of Regulations Regulation 1.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of regulation 2 of the Beneficial Ownership (Limited Liability Partnership)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Repeal and substitution of regulation 4 - additional matters where there is no registrable\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Amendment of regulation 6 - additional matters where a limited liability partnership\u2019s\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Amendment of regulation 7 - additional matters where there is a failure to comply with a\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Amendment of regulation 8 - additional matters where a limited liability partnership has 7. 8.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_9\", \"num\": \"9.\", \"text\": \"Amendment of regulation 16 - holding an interest in a limited liability partnership indirectly\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_10\", \"num\": \"10.\", \"text\": \"Insertion of Part 7 and Schedule - administrative fines and application for an appeal to Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 Regulation 1 SL 150 of 2020 Limited Liability Partnership Law, 2017 (Law 13 of 2017) BENEFICIAL OWNERSHIP (LIMITED LIABILITY PARTNERSHIP) (AMENDMENT) REGULATIONS, 2020 (SL 150 of 2020) In exercise of the powers conferred by sections 87 and 95 of the Limited Liability Partnership Law, 2017, the Cabinet makes the following Regulations \u2014\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_1\", \"num\": \"1.\", \"text\": \"Citation and commencement 1. (1) These Regulations may be cited as the Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020. (2) These Regulations shall come into force immediately after the Beneficial Ownership (Limited Liability Partnership) Regulations, 2019 come into force. 2. Amendment of regulation 2 of the Beneficial Ownership (Limited Liability Partnership) Regulations, 2019 - definitions 2. The Beneficial Ownership (Limited Liability Partnership) Regulations, 2019, in these Regulations referred to as the \u201cprincipal Regulations\u201d, are amended in regulation 2 in the definition of \u201cwithdrawal notice\u201d by deleting the words \u201climited liability partnership\u201d and substituting the words \u201ccorporate services provider\u201d. Regulation 3 Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 SL 150 of 2020 3. Repeal and substitution of regulation 4 - additional matters where there is no registrable beneficial owner or relevant legal entity 3. The principal Regulations are amended by repealing regulation 4 and substituting the following regulation \u2014 \u201cAdditional matters where there is no registrable person identified 4. (1) This regulation applies where a limited liability partnership knows or has reasonable cause to believe that there is no registrable person that can be identified in relation to the limited liability partnership. (2) The limited liability partnership shall note in its beneficial ownership register the words \u201cno registrable person identified\u201d to show that \u2014 (a) the limited liability partnership knows or has reasonable cause to believe that there is no registrable person identified in relation to it; or (b) the limited liability partnership has taken reasonable steps to identify all beneficial owners and relevant legal entities and has not, in the course of taking such steps, been able to identify any registrable person.\u201d. 4. Amendment of regulation 6 - additional matters where a limited liability partnership\u2019s investigations are ongoing 4. The principal Regulations are amended in regulation 6 as follows \u2014 (a) in paragraph (1) as follows \u2014 (i) in paragraph (b), by deleting the word \u201cand\u201d appearing at the end of that paragraph; (ii) in paragraph (c), by deleting the words \u201cliability partnership.\u201d and substituting the words \u201cliability partnership; and\u201d; and (iii) by inserting after paragraph (c), the following paragraph \u2014 \u201c(d) is not exempt under section 52(1) of the Law.\u201d; and (b) by inserting after paragraph (2), the following paragraph \u2014 \u201c(3) If, at any time between \u2014 (a) the date of a limited liability partnership\u2019s incorporation or registration by way of continuation under the Law, as applicable; and (b) the date of a limited liability partnership\u2019s dissolution and removal from the register under the Law, the limited liability partnership\u2019s beneficial ownership register contains the note \u201cenquiries pending\u201d for an uninterrupted period of not less than three calendar months, the fact that the note remains in Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 Regulation 5 SL 150 of 2020 the register for that period shall be prima facie evidence that a breach of section 60(1) of the Law has occurred.\u201d. 5. Amendment of regulation 7 - additional matters where there is a failure to comply with a notice given under section 56 or 62 of the Law 5. The principal Regulations are amended in regulation 7 as follows \u2014 (a) in paragraph (1), by deleting the words \u201climited liability partnership\u201d and substituting the words \u201ccorporate service provider\u201d; and (b) in paragraph (2), by deleting the words \u201climited liability partnership shall note in its\u201d and substituting the words \u201ccorporate service provider shall note in the limited liability partnership\u2019s\u201d. 6. Amendment of regulation 8 - additional matters where a limited liability partnership has issued a restrictions notice 6. The principal Regulations are amended in regulation 8 as follows \u2014 (a) in the regulation heading, by deleting the words \u201climited liability partnership\u201d and substituting the words \u201ccorporate services provider\u201d; (b) in paragraph (1), by deleting the words \u201climited liability partnership\u201d and substituting the words \u201ccorporate services provider\u201d; (c) in paragraph (2), by deleting the words \u201climited liability partnership shall note in its\u201d and substituting the words \u201ccorporate services provider shall note in the limited liability partnership\u2019s\u201d; (d) in paragraph (3) as follows \u2014 (i) by deleting the words \u201cWhere the limited liability partnership\u201d and substituting the words \u201cWhere the corporate services provider\u201d; and (ii) by deleting the words \u201climited liability partnership shall note in its\u201d and substituting the words \u201ccorporate service provider shall note in the limited liability partnership\u2019s\u201d; and (e) in paragraph (4), by deleting the words \u201climited liability partnership shall note in its\u201d and substituting the words \u201ccorporate service provider shall note in the limited liability partnership\u2019s\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_7\", \"num\": \"7.\", \"text\": \"Amendment of regulation 12 - content of a restrictions notice 7. The principal Regulations are amended in regulation 12 by repealing paragraph (b) and substituting the following paragraph \u2014 \u201c(b) identify the interest in the limited liability partnership that is relevant to the restrictions notice by reference to the partnership interest or right in question;\u201d. Regulation 8 Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 SL 150 of 2020\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_8\", \"num\": \"8.\", \"text\": \"Amendment of regulation 13 - withdrawal of a restrictions notice 8. The principal Regulations are amended in regulation 13 as follows \u2014 (a) by deleting the words \u201cWhere a limited liability partnership\u201d and substituting the words \u201cWhere a corporate services provider\u201d; (b) in paragraph (a), by deleting the words \u201climited liability partnership\u201d and substituting the words \u201ccorporate services provider\u201d; and (c) by repealing paragraph (c) and substituting the following paragraph \u2014 \u201c(c) identify the interest in the limited liability partnership that is relevant to the restrictions notice by reference to the partnership interest or right in question; and\u201d. 9. Amendment of regulation 16 - holding an interest in a limited liability partnership indirectly through a legal entity 9. The principal Regulations are amended in regulation 16(1)(b) as follows \u2014 (a) by deleting the words \u201cregulation 19(3)\u201d and substituting the words \u201cregulation 17(2)\u201d; and (b) in subparagraph (ii), by deleting the words \u201cregulation 19(1)(b) or (2)(b)\u201d and substituting the words \u201cregulation 17(1)(b)\u201d. 10. Insertion of Part 7 and Schedule - administrative fines and application for an appeal to the competent authority 10. The principal Regulations are amended by inserting after Part 6, the following Part and Schedule \u2014 \u201cPart 7 - Administrative Fines Definitions in this Part\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_29\", \"num\": \"29.\", \"text\": \"In this Part \u2014 \u201cadministrative fine notice\u201d means an administrative fine notice issued by the Registrar under regulation 30 for the imposition of an administrative fine, in accordance with section 88 of the Law, to a person who breaches a provision of Part 8 of the Law that is specified in the Schedule of the Law; \u201capplicant\u201d means a person who appeals against the decision of the Registrar to impose an administrative fine in accordance with section 88 of the Law; \u201coriginal decision\u201d means the decision of the Registrar to impose the administrative fine specified in an administrative fine notice, in accordance with section 88 of the Law; and Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 Regulation 10 SL 150 of 2020 \u201creview committee\u201d means a committee appointed by the competent authority under regulation 31(3). Administrative fine notice\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_30\", \"num\": \"30.\", \"text\": \"(1) The Registrar may impose an administrative fine, which is set out in the Schedule of the Law, in accordance with Part 9 of the Law for a breach of a provision under Part 8 of the Law, by issuing to a person, an administrative fine notice in accordance with paragraphs (2) and (3). (2) An administrative fine notice referred to in paragraph (1) shall specify \u2014 (a) the date on which the notice was issued; (b) the breach for which the fine is imposed and the provision under the Law; (c) details of the breach; (d) the amount of the fine; (e) how payment should be made; (f) the date by which the administrative fine should be paid; (g) the effects of non-payment; and (h) the process for appealing against the decision of the Registrar to impose the administrative fine. (3) The Registrar may issue an administrative fine notice under paragraph (2) \u2014 (a) to an individual, by sending the notice to the most recent email address provided by the individual to the Registrar; or (b) to a body corporate, by sending the notice to the most recent email address provided to the Registrar of \u2014 (i) a director or officer of the body corporate; or (ii) its corporate services provider. Appeal to the competent authority\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_31\", \"num\": \"31.\", \"text\": \"(1) A person who receives an administrative fine notice may, by application, appeal against the decision of the Registrar to impose the administrative fine to the competent authority. (2) An application under paragraph (1) shall be made in the form set out in the Schedule, within thirty days from the date of receipt of the administrative fine notice. Regulation 10 Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 SL 150 of 2020 (3) The competent authority shall, on receipt of an application under paragraph (1), appoint a review committee to conduct an inquiry concerning the matters raised in the application under paragraph (1). Review committee\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_32\", \"num\": \"32.\", \"text\": \"(1) The review committee shall comprise the following officers of the ministry with responsibility for financial services \u2014 (a) two persons with knowledge and experience in accounting, financial services, banking or compliance; and (b) an attorney-at-law. (2) The competent authority shall not appoint to the review committee, any officer who assisted the Registrar in decision-making regarding the fine. (3) Subject to any directions that may be given by the competent authority, the review committee may regulate its own procedure. (4) The review committee shall notify the Registrar of an application submitted under regulation 31(1) and the grounds on which the applicant relies and the Registrar may make written representations to the review committee concerning the application, but shall not otherwise participate in any discussion, decision, debate or vote of the review committee concerning the application. (5) The competent authority may by notice in writing, require an applicant to provide such documents, statements or any other information as it may reasonably require in the exercise of its functions. (6) An applicant who receives a notice under paragraph (5), shall comply with the notice within the period and in the manner specified in the notice. (7) The review committee shall upon completing the inquiry, report its findings and recommendations to the competent authority. Decision by the competent authority\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_33\", \"num\": \"33.\", \"text\": \"(1) The competent authority shall, upon receipt of the report of the review committee, consider and determine the application under regulation 31(1) and may affirm or set aside the original decision. (2) The competent authority shall have regard to, but is not bound by, the findings and recommendations of the review committee. (3) The competent authority shall, within fifteen working days of receipt of an application under regulation 31(1), give the applicant notice of its decision. Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 Regulation 10 SL 150 of 2020 (4) Where the competent authority affirms the original decision, the notice of the decision on the application shall also state \u2014 (a) the reasons for the decision; and (b) that the applicant may apply to the Grand Court for judicial review of the decision. (5) Where the competent authority sets aside the original decision, the original decision is deemed never to have been made. No stay of original decision\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_34\", \"num\": \"34.\", \"text\": \"An appeal under regulation 31 does not stay the operation of the original decision by the Registrar to impose an administrative fine as specified in the administrative fine notice. Evidentiary provisions\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_35\", \"num\": \"35.\", \"text\": \"(1) The date stated on an administrative fine notice is the date on which the administrative fine is considered imposed for the purpose of section 31(1)(b) of the Law. (2) For the purpose of regulation 31(2), where the administrative fine notice is sent to a person by email, the date the email is sent is considered the date of receipt. SCHEDULE (regulation 31(2)) APPLICATION FOR AN APPEAL TO THE COMPETENT AUTHORITY To: The competent authority At:____________________________________________________________ (The physical address of the competent authority) OR If the competent authority accepts the sending of an application under regulation 31 at a particular email address: _______________________________________________________________ (The email address of the competent authority) Regulation 10 Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 SL 150 of 2020 TAKE NOTICE that, under regulation 31, the following person applies to the competent authority to appeal against the decision of the Registrar to impose the administrative fine by administrative fine notice received by the person on: _______________________________________________________________ (Here insert date the notice was received and, if two or more administrative fine notices were given on that day. Identify the fine(s) in the administrative fine notice(s) which are the subject of the appeal.) Applicant\u2019s full name:_____________________________________________ The applicant\u2019s physical address is: __________________________________ _______________________________________________________________ The applicant\u2019s email address for notices from the competent authority to the person is: _______________________________________________________________ Particulars about the application are as follows: The relevant prescribed provision set out in the administrative fine notice is: _______________________________________________________________ The grounds of appeal on which the person relies are: _______________________________________________________________ _____________________________________________________ The facts and circumstances that the person relies on for the grounds are: ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 Regulation 10 SL 150 of 2020 (Here insert the facts and circumstances relied on, including those contended to be different from those set out in the relevant administrative fine notice and any relevant surrounding circumstances.) Dated ______________________, 20_____. ______________________________________________________ Signed on behalf of the applicant ______________________________________________________ Position with the applicant (If the applicant is not an individual)\u201d. Made in Cabinet the 24th day of November, 2020. Kim Bullings Clerk of the Cabinet\", \"element\": \"section\", \"heading\": null}], \"meta\": {\"notes\": null, \"workflow\": null, \"lifecycle\": {\"source\": \"#cilegis\", \"eventRef\": [{\"eId\": \"e_commence_2020_01_01\", \"date\": \"2020-01-01\", \"type\": \"generation\", \"source\": \"#cilegis\"}]}, \"references\": {\"source\": \"#canary\", \"TLCRole\": [], \"TLCEvent\": [{\"eId\": \"ev_commencement\", \"href\": \"\/akn\/ontology\/canary\/event\/commencement\", \"showAs\": \"commencement\"}], \"TLCPerson\": [], \"TLCConcept\": [{\"eId\": \"inForce\", \"href\": \"\/akn\/ontology\/canary\/concept\/temporal\/in-force\", \"showAs\": \"in force\"}], \"TLCProcess\": [], \"TLCLocation\": [], \"TLCOrganization\": [{\"eId\": \"cilegis\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\", \"showAs\": \"Cayman Islands legislation mirror (kyleg)\"}]}, \"temporalData\": {\"source\": \"#cilegis\", \"temporalGroup\": [{\"eId\": \"tg_inforce_2020_01_01\", \"timeInterval\": [{\"end\": null, \"start\": \"#e_commence_2020_01_01\", \"duration\": null, \"refersTo\": \"#inForce\"}]}]}, \"classification\": null, \"identification\": {\"source\": \"#cilegis\", \"FRBRWork\": {\"FRBRuri\": \"\/akn\/ky\/act\/amending\/2020\/150\", \"FRBRdate\": [{\"date\": \"2020-01-01\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/amending\/2020\/150\/!main\", \"FRBRalias\": [{\"name\": \"cmsId\", \"value\": \"2020-0150\"}], \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRnumber\": \"150 of 2020\", \"FRBRcountry\": \"ky\", \"FRBRsubtype\": \"amending\"}, \"FRBRExpression\": {\"FRBRuri\": \"\/akn\/ky\/act\/amending\/2020\/150\/eng@2020-01-01\", \"FRBRdate\": [{\"date\": \"2020-01-01\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/amending\/2020\/150\/eng@2020-01-01\/!main\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRlanguage\": \"eng\"}, \"FRBRManifestation\": {\"FRBRuri\": \"\/akn\/ky\/act\/amending\/2020\/150\/eng@2020-01-01.xml\", \"FRBRdate\": [{\"date\": \"2026-06-22\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/amending\/2020\/150\/eng@2020-01-01.xml\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRformat\": \"application\/xml\"}}}, \"name\": \"act\", \"header\": {\"title\": \"Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 (SL 150 of 2020)\", \"actNumber\": \"150 of 2020\", \"longTitle\": null}}, \"doc\": null, \"bill\": null, \"judgment\": null}}","akn_full_text":"CAYMAN ISLANDS\n\nLimited Liability Partnership Law, 2017\n(Law 13 of 2017)\nBENEFICIAL OWNERSHIP (LIMITED\nLIABILITY PARTNERSHIP) (AMENDMENT)\nREGULATIONS, 2020\n(SL 150 of 2020)\nSupplement No. 4 published with Legislation Gazette No. 87 dated 1st December, 2020.\n\u2000\n\nPage 2\nSL 150 of 2020\nc\n\nPUBLISHING DETAILS\n\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\nArrangement of Regulations\n\nc\nSL 150 of 2020\nPage 3\n\nCAYMAN ISLANDS\n\nLimited Liability Partnership Law, 2017\n(Law 13 of 2017)\nBENEFICIAL OWNERSHIP (LIMITED LIABILITY\nPARTNERSHIP) (AMENDMENT)\nREGULATIONS, 2020\n(SL 150 of 2020)\n\nArrangement of Regulations\nRegulation\nPage\n1.\nCitation and commencement .....................................................................................................5\n2.\nAmendment of regulation 2 of the Beneficial Ownership (Limited Liability Partnership)\nRegulations, 2019 - definitions ...................................................................................................5\n3.\nRepeal and substitution of regulation 4 - additional matters where there is no registrable\nbeneficial owner or relevant legal entity .....................................................................................6\n4.\nAmendment of regulation 6 - additional matters where a limited liability partnership\u2019s\ninvestigations are ongoing .........................................................................................................6\n5.\nAmendment of regulation 7 - additional matters where there is a failure to comply with a\nnotice given under section 56 or 62 of the Law ..........................................................................7\n6.\nAmendment of regulation 8 - additional matters where a limited liability partnership has\nissued a restrictions notice .........................................................................................................7\n7.\nAmendment of regulation 12 - content of a restrictions notice ....................................................7\n8.\nAmendment of regulation 13 - withdrawal of a restrictions notice ...............................................8\n9.\nAmendment of regulation 16 - holding an interest in a limited liability partnership indirectly\nthrough a legal entity .................................................................................................................8\n10.\nInsertion of Part 7 and Schedule - administrative fines and application for an appeal to\nthe competent authority .............................................................................................................8\n\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\nRegulation 1\n\nc\nSL 150 of 2020\nPage 5\n\nCAYMAN ISLANDS\n\nLimited Liability Partnership Law, 2017\n(Law 13 of 2017)\nBENEFICIAL OWNERSHIP (LIMITED LIABILITY\nPARTNERSHIP) (AMENDMENT)\nREGULATIONS, 2020\n(SL 150 of 2020)\nIn exercise of the powers conferred by sections 87 and 95 of the Limited Liability\nPartnership Law, 2017, the Cabinet makes the following Regulations \u2014\n1.\nCitation and commencement\n1.\n(1) These Regulations may be cited as the Beneficial Ownership (Limited Liability\nPartnership) (Amendment) Regulations, 2020.\n(2) These Regulations shall come into force immediately after the Beneficial\nOwnership (Limited Liability Partnership) Regulations, 2019 come into force.\n2.\nAmendment of regulation 2 of the Beneficial Ownership (Limited Liability\nPartnership) Regulations, 2019 - definitions\n2.\nThe Beneficial Ownership (Limited Liability Partnership) Regulations, 2019, in these\nRegulations referred to as the \u201cprincipal Regulations\u201d, are amended in regulation 2 in\nthe definition of \u201cwithdrawal notice\u201d by deleting the words \u201climited liability\npartnership\u201d and substituting the words \u201ccorporate services provider\u201d.\n\nRegulation 3\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\n\nPage 6\nSL 150 of 2020\nc\n\n3.\nRepeal and substitution of regulation 4 - additional matters where there is no\nregistrable beneficial owner or relevant legal entity\n3.\nThe principal Regulations are amended by repealing regulation 4 and substituting the\nfollowing regulation \u2014\n\n\u201cAdditional matters where there is no registrable person identified\n4.\n(1) This regulation applies where a limited liability partnership knows or\nhas reasonable cause to believe that there is no registrable person that\ncan be identified in relation to the limited liability partnership.\n(2) The limited liability partnership shall note in its beneficial ownership\nregister the words \u201cno registrable person identified\u201d to show that \u2014\n(a)\nthe limited liability partnership knows or has reasonable cause\nto believe that there is no registrable person identified in\nrelation to it; or\n(b) the limited liability partnership has taken reasonable steps to\nidentify all beneficial owners and relevant legal entities and has\nnot, in the course of taking such steps, been able to identify any\nregistrable person.\u201d.\n4.\nAmendment of regulation 6 - additional matters where a limited liability\npartnership\u2019s investigations are ongoing\n4.\nThe principal Regulations are amended in regulation 6 as follows \u2014\n(a)\nin paragraph (1) as follows \u2014\n(i)\nin paragraph (b), by deleting the word \u201cand\u201d appearing at the end of\nthat paragraph;\n(ii) in paragraph (c), by deleting the words \u201cliability partnership.\u201d and\nsubstituting the words \u201cliability partnership; and\u201d; and\n(iii) by inserting after paragraph (c), the following paragraph \u2014\n\u201c(d) is not exempt under section 52(1) of the Law.\u201d; and\n(b) by inserting after paragraph (2), the following paragraph \u2014\n\u201c(3) If, at any time between \u2014\n(a) the date of a limited liability partnership\u2019s incorporation or\nregistration by way of continuation under the Law, as applicable;\nand\n(b) the date of a limited liability partnership\u2019s dissolution and\nremoval from the register under the Law,\nthe limited liability partnership\u2019s beneficial ownership register\ncontains the note \u201cenquiries pending\u201d for an uninterrupted period of\nnot less than three calendar months, the fact that the note remains in\n\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\nRegulation 5\n\nc\nSL 150 of 2020\nPage 7\n\nthe register for that period shall be prima facie evidence that a breach\nof section 60(1) of the Law has occurred.\u201d.\n5.\nAmendment of regulation 7 - additional matters where there is a failure to\ncomply with a notice given under section 56 or 62 of the Law\n5.\nThe principal Regulations are amended in regulation 7 as follows \u2014\n(a)\nin paragraph (1), by deleting the words \u201climited liability partnership\u201d and\nsubstituting the words \u201ccorporate service provider\u201d; and\n(b) in paragraph (2), by deleting the words \u201climited liability partnership shall\nnote in its\u201d and substituting the words \u201ccorporate service provider shall\nnote in the limited liability partnership\u2019s\u201d.\n6.\nAmendment of regulation 8 - additional matters where a limited liability\npartnership has issued a restrictions notice\n6.\nThe principal Regulations are amended in regulation 8 as follows \u2014\n(a)\nin the regulation heading, by deleting the words \u201climited liability\npartnership\u201d and substituting the words \u201ccorporate services provider\u201d;\n(b) in paragraph (1), by deleting the words \u201climited liability partnership\u201d and\nsubstituting the words \u201ccorporate services provider\u201d;\n(c)\nin paragraph (2), by deleting the words \u201climited liability partnership shall\nnote in its\u201d and substituting the words \u201ccorporate services provider shall\nnote in the limited liability partnership\u2019s\u201d;\n(d) in paragraph (3) as follows \u2014\n(i)\nby deleting the words \u201cWhere the limited liability partnership\u201d and\nsubstituting the words \u201cWhere the corporate services provider\u201d; and\n(ii) by deleting the words \u201climited liability partnership shall note in its\u201d\nand substituting the words \u201ccorporate service provider shall note in\nthe limited liability partnership\u2019s\u201d; and\n(e)\nin paragraph (4), by deleting the words \u201climited liability partnership shall\nnote in its\u201d and substituting the words \u201ccorporate service provider shall\nnote in the limited liability partnership\u2019s\u201d.\n7.\nAmendment of regulation 12 - content of a restrictions notice\n7.\nThe principal Regulations are amended in regulation 12 by repealing paragraph (b)\nand substituting the following paragraph \u2014\n\u201c(b) identify the interest in the limited liability partnership that is\nrelevant to the restrictions notice by reference to the partnership\ninterest or right in question;\u201d.\n\nRegulation 8\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\n\nPage 8\nSL 150 of 2020\nc\n\n8.\nAmendment of regulation 13 - withdrawal of a restrictions notice\n8.\nThe principal Regulations are amended in regulation 13 as follows \u2014\n(a)\nby deleting the words \u201cWhere a limited liability partnership\u201d and\nsubstituting the words \u201cWhere a corporate services provider\u201d;\n(b) in paragraph (a), by deleting the words \u201climited liability partnership\u201d and\nsubstituting the words \u201ccorporate services provider\u201d; and\n(c)\nby repealing paragraph (c) and substituting the following paragraph \u2014\n\u201c(c) identify the interest in the limited liability partnership that is\nrelevant to the restrictions notice by reference to the partnership\ninterest or right in question; and\u201d.\n9.\nAmendment of regulation 16 - holding an interest in a limited liability\npartnership indirectly through a legal entity\n9.\nThe principal Regulations are amended in regulation 16(1)(b) as follows \u2014\n(a) by deleting the words \u201cregulation 19(3)\u201d and substituting the words\n\u201cregulation 17(2)\u201d; and\n(b) in subparagraph (ii), by deleting the words \u201cregulation 19(1)(b) or (2)(b)\u201d\nand substituting the words \u201cregulation 17(1)(b)\u201d.\n10.\nInsertion of Part 7 and Schedule - administrative fines and application for an\nappeal to the competent authority\n10. The principal Regulations are amended by inserting after Part 6, the following Part\nand Schedule \u2014\n\u201cPart 7 - Administrative Fines\n\nDefinitions in this Part\n29. In this Part \u2014\n\u201cadministrative fine notice\u201d means an administrative fine notice\nissued by the Registrar under regulation 30 for the imposition of an\nadministrative fine, in accordance with section 88 of the Law, to a\nperson who breaches a provision of Part 8 of the Law that is specified\nin the Schedule of the Law;\n\u201capplicant\u201d means a person who appeals against the decision of the\nRegistrar to impose an administrative fine in accordance with section\n88 of the Law;\n\u201coriginal decision\u201d means the decision of the Registrar to impose the\nadministrative fine specified in an administrative fine notice, in\naccordance with section 88 of the Law; and\n\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\nRegulation 10\n\nc\nSL 150 of 2020\nPage 9\n\n\u201creview committee\u201d means a committee appointed by the competent\nauthority under regulation 31(3).\n\nAdministrative fine notice\n30. (1) The Registrar may impose an administrative fine, which is set out in\nthe Schedule of the Law, in accordance with Part 9 of the Law for a\nbreach of a provision under Part 8 of the Law, by issuing to a person,\nan administrative fine notice in accordance with paragraphs (2) and\n(3).\n(2) An administrative fine notice referred to in paragraph (1) shall\nspecify \u2014\n(a)\nthe date on which the notice was issued;\n(b) the breach for which the fine is imposed and the provision under\nthe Law;\n(c)\ndetails of the breach;\n(d) the amount of the fine;\n(e)\nhow payment should be made;\n(f)\nthe date by which the administrative fine should be paid;\n(g) the effects of non-payment; and\n(h) the process for appealing against the decision of the Registrar\nto impose the administrative fine.\n(3) The Registrar may issue an administrative fine notice under\nparagraph (2) \u2014\n(a)\nto an individual, by sending the notice to the most recent email\naddress provided by the individual to the Registrar; or\n(b) to a body corporate, by sending the notice to the most recent\nemail address provided to the Registrar of \u2014\n(i)\na director or officer of the body corporate; or\n(ii) its corporate services provider.\n\nAppeal to the competent authority\n31. (1) A person who receives an administrative fine notice may, by\napplication, appeal against the decision of the Registrar to impose the\nadministrative fine to the competent authority.\n(2) An application under paragraph (1) shall be made in the form set out\nin the Schedule, within thirty days from the date of receipt of the\nadministrative fine notice.\n\nRegulation 10\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\n\nPage 10\nSL 150 of 2020\nc\n\n(3) The competent authority shall, on receipt of an application under\nparagraph (1), appoint a review committee to conduct an inquiry\nconcerning the matters raised in the application under paragraph (1).\n\nReview committee\n32. (1) The review committee shall comprise the following officers of the\nministry with responsibility for financial services \u2014\n(a)\ntwo persons with knowledge and experience in accounting,\nfinancial services, banking or compliance; and\n(b) an attorney-at-law.\n(2) The competent authority shall not appoint to the review committee,\nany officer who assisted the Registrar in decision-making regarding\nthe fine.\n(3) Subject to any directions that may be given by the competent\nauthority, the review committee may regulate its own procedure.\n(4) The review committee shall notify the Registrar of an application\nsubmitted under regulation 31(1) and the grounds on which the\napplicant relies and the Registrar may make written representations\nto the review committee concerning the application, but shall not\notherwise participate in any discussion, decision, debate or vote of\nthe review committee concerning the application.\n(5) The competent authority may by notice in writing, require an\napplicant to provide such documents, statements or any other\ninformation as it may reasonably require in the exercise of its\nfunctions.\n(6) An applicant who receives a notice under paragraph (5), shall comply\nwith the notice within the period and in the manner specified in the\nnotice.\n(7) The review committee shall upon completing the inquiry, report its\nfindings and recommendations to the competent authority.\n\nDecision by the competent authority\n33. (1) The competent authority shall, upon receipt of the report of the\nreview committee, consider and determine the application under\nregulation 31(1) and may affirm or set aside the original decision.\n(2) The competent authority shall have regard to, but is not bound by,\nthe findings and recommendations of the review committee.\n(3) The competent authority shall, within fifteen working days of receipt\nof an application under regulation 31(1), give the applicant notice of\nits decision.\n\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\nRegulation 10\n\nc\nSL 150 of 2020\nPage 11\n\n(4) Where the competent authority affirms the original decision, the\nnotice of the decision on the application shall also state \u2014\n(a)\nthe reasons for the decision; and\n(b) that the applicant may apply to the Grand Court for judicial\nreview of the decision.\n(5) Where the competent authority sets aside the original decision, the\noriginal decision is deemed never to have been made.\n\nNo stay of original decision\n34. An appeal under regulation 31 does not stay the operation of the original\ndecision by the Registrar to impose an administrative fine as specified in\nthe administrative fine notice.\n\nEvidentiary provisions\n35. (1) The date stated on an administrative fine notice is the date on which\nthe administrative fine is considered imposed for the purpose of\nsection 31(1)(b) of the Law.\n(2) For the purpose of regulation 31(2), where the administrative fine\nnotice is sent to a person by email, the date the email is sent is\nconsidered the date of receipt.\nSCHEDULE\n(regulation 31(2))\nAPPLICATION FOR AN APPEAL TO THE COMPETENT\nAUTHORITY\n\nTo: The competent authority\nAt:____________________________________________________________\n(The physical address of the competent authority)\nOR\nIf the competent authority accepts the sending of an application under\nregulation 31 at a particular email address:\n_______________________________________________________________\n(The email address of the competent authority)\n\nRegulation 10\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\n\nPage 12\nSL 150 of 2020\nc\n\nTAKE NOTICE that, under regulation 31, the following person applies to the\ncompetent authority to appeal against the decision of the Registrar to impose\nthe administrative fine by administrative fine notice received by the person on:\n_______________________________________________________________\n(Here insert date the notice was received and, if two or more administrative fine notices\nwere given on that day. Identify the fine(s) in the administrative fine notice(s) which are\nthe subject of the appeal.)\n\nApplicant\u2019s full name:_____________________________________________\n\nThe applicant\u2019s physical address is: __________________________________\n_______________________________________________________________\n\nThe applicant\u2019s email address for notices from the competent authority to the\nperson is:\n_______________________________________________________________\n\nParticulars about the application are as follows:\n\nThe relevant prescribed provision set out in the administrative fine notice is:\n_______________________________________________________________\n\nThe grounds of appeal on which the person relies are:\n_______________________________________________________________\n_____________________________________________________\n\nThe facts and circumstances that the person relies on for the grounds are:\n______________________________________________________________________\n______________________________________________________________________\n______________________________________________________________________\n\nBeneficial Ownership (Limited Liability Partnership) (Amendment)\nRegulations, 2020\nRegulation 10\n\nc\nSL 150 of 2020\nPage 13\n\n(Here insert the facts and circumstances relied on, including those contended to be\ndifferent from those set out in the relevant administrative fine notice and any relevant\nsurrounding circumstances.)\n\nDated ______________________, 20_____.\n\n______________________________________________________\nSigned on behalf of the applicant\n\n______________________________________________________\nPosition with the applicant (If the applicant is not an individual)\u201d.\n\nMade in Cabinet the 24th day of November, 2020.\nKim Bullings\nClerk of the Cabinet","akn_extracted_at":"2026-06-22 15:41:18.394811+00","cms_id":"2020-0150","law_type":"amending","year":"2020","number":"150","title":"Beneficial Ownership (Limited Liability Partnership) (Amendment) Regulations, 2020 (SL 150 of 2020)","status":"spent"},"provenance":{"files":[{"file_id":"6768","expr_id":"1982","kind":"akn_xml","filename":"2020-0150.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2020\/2020-0150\/2020-0150.akn.xml","content_md5":"47a5e6f7384595ae60df6155274eb996","byte_size":"21930","http_last_modified":null,"fetched_at":"2026-06-22 15:41:18.506353+00"},{"file_id":"3963","expr_id":"1982","kind":"pristine_pdf","filename":"2020-0150.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2020\/2020-0150\/2020-0150.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2020\/2020-0150\/2020-0150.pdf","content_md5":"06017be1c42444a6ea3043b812c6c966","byte_size":"800271","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.139875+00"},{"file_id":"3964","expr_id":"1982","kind":"working_pdf","filename":"2020-0150.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2020\/2020-0150\/2020-0150.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2020\/2020-0150\/2020-0150.pdf","content_md5":"06017be1c42444a6ea3043b812c6c966","byte_size":"800271","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.139875+00"}],"paragraph_count":9,"latest_history":null},"quality":{"expr_id":"1982","doc_id":"1982","quality_state":"needs_review","quality_score":"72","needs_human_review":"t","deterministic_categories":"{commencement_metadata_problem,duplicate_text,page_header_footer_noise}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture,verify_commencement_metadata}","finding_severity_counts":"{\"low\": 1, \"medium\": 2}","finding_summary":"repeated line furniture detected: cayman islands x3; limited liability partnership law 2017 x3; law 13 of 2017 x3; duplicate-line ratio is 16.12%","assessed_at":"2026-06-22 15:29:46.256764+00","updated_at":"2026-06-22 15:29:46.256764+00"}}