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These Regulations may be cited as the Financial (Amendment) Regulations, 2021. 2. General amendments to the Financial Regulations (2021 Revision) - References to Part headings 2. The Financial Regulations (2021 Revision), in these Regulations referred to as the \u201cprincipal Regulations\u201d, are amended as follows \u2014 (a) by repealing the Part heading \u201cPART I \u2013 INTRODUCTORY\u201d and substituting the following Part Heading \u2014 \u201cPART 1 \u2013 PRELIMINARY\u201d; (b) by deleting the words \u201cPART II\u201d and substituting the words \u201cPART 2\u201d; (c) by deleting the words \u201cPART III\u201d and substituting the words \u201cPART 3\u201d; Regulation 3 Financial (Amendment) Regulations, 2021 SL 65 of 2021 (d) by deleting the words \u201cPART IV\u201d and substituting the words \u201cPART 4\u201d; (e) by deleting the words \u201cPART V\u201d and substituting the words \u201cPART 5\u201d; (f) by deleting the words \u201cPART VI\u201d and substituting the words \u201cPART 6\u201d; (g) by deleting the words \u201cPART VII\u201d and substituting the words \u201cPART 7\u201d; (h) by deleting the words \u201cPART VIII\u201d and substituting the words \u201cPART 8\u201d; (i) by deleting the words \u201cPART IX\u201d and substituting the words \u201cPART 9\u201d; (j) by deleting the words \u201cPART X\u201d and substituting the words \u201cPART 10\u201d; (k) by deleting the words \u201cPART XI\u201d and substituting the words \u201cPART 11\u201d; and (l) by deleting the words \u201cPART XIII\u201d and substituting the words \u201cPART 13\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Insertion of Part 9A - sale of assets 3. The principal Regulations are amended by inserting after regulation 41 the following Part \u2014 \u201cPART 9A \u2013 SALE OF ASSETS Requirement to tender for the sale of assets 41A. A prescribed entity, statutory authority or government company shall offer for public tender the sale of any asset with a book value of fifty thousand dollars or more.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Repeal and substitution of Part XII \u2013 capital project appraisal 4. The principal Regulations are amended by repealing Part XII and substituting the following Part \u2014 \u201cPART 12 \u2013 Procurement Project and Capital Project Appraisal Role of the PSIC 45. (1) The PSIC shall be responsible for \u2014 (a) receiving, from Chief Officers or Chief Executive Officers, the business case and appendices for procurement projects and capital projects, in accordance with prescribed thresholds; (b) assessing the viability of procurement projects and capital projects; Financial (Amendment) Regulations, 2021 Regulation 5 SL 65 of 2021 (c) reporting on the overall viability of procurement projects and capital projects and making recommendations to the Cabinet as to whether or not such projects should proceed; and (d) providing the Financial Secretary with an annual report on its activities for the financial year. (2) For the purposes of paragraph (1), \u201ccapital project\u201d and \u201cprocurement project\u201d have the meaning assigned by section 2 of the Procurement Act, 2016.\u201d. 5. Repeal of Schedule \u2013 project appraisal documents 5. The principal Regulations are amended by repealing the Schedule. 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References to Part\nheadings ....................................................................................................................................5\n3.\nInsertion of Part 9A - sale of assets ...........................................................................................6\n4.\nRepeal and substitution of Part XII \u2013 capital project appraisal ....................................................6\n5.\nRepeal of Schedule \u2013 project appraisal documents ....................................................................7\n\nFinancial (Amendment) Regulations, 2021\nRegulation 1\n\nc\nSL 65 of 2021\nPage 5\n\nCAYMAN ISLANDS\n\nPublic Management and Finance Act\n(2020 Revision)\nFINANCIAL (AMENDMENT) REGULATIONS,\n2021\n(SL 65 of 2021)\nIn exercise of the powers conferred by section 35 of the Public Management and Finance\nAct (2020 Revision), the Cabinet, on the advice of the Minister of Finance, makes the\nfollowing Regulations \u2014\n1.\nCitation\n1.\nThese Regulations may be cited as the Financial (Amendment) Regulations, 2021.\n2.\nGeneral amendments to the Financial Regulations (2021 Revision) -\nReferences to Part headings\n2.\nThe Financial Regulations (2021 Revision), in these Regulations referred to as the\n\u201cprincipal Regulations\u201d, are amended as follows \u2014\n(a)\nby repealing the Part heading \u201cPART I \u2013 INTRODUCTORY\u201d and\nsubstituting the following Part Heading \u2014\n\u201cPART 1 \u2013 PRELIMINARY\u201d;\n(b) by deleting the words \u201cPART II\u201d and substituting the words \u201cPART 2\u201d;\n(c)\nby deleting the words \u201cPART III\u201d and substituting the words \u201cPART 3\u201d;\n\nRegulation 3\nFinancial (Amendment) Regulations, 2021\n\nPage 6\nSL 65 of 2021\nc\n\n(d) by deleting the words \u201cPART IV\u201d and substituting the words \u201cPART 4\u201d;\n(e)\nby deleting the words \u201cPART V\u201d and substituting the words \u201cPART 5\u201d;\n(f)\nby deleting the words \u201cPART VI\u201d and substituting the words \u201cPART 6\u201d;\n(g) by deleting the words \u201cPART VII\u201d and substituting the words \u201cPART 7\u201d;\n(h) by deleting the words \u201cPART VIII\u201d and substituting the words \u201cPART\n8\u201d;\n(i)\nby deleting the words \u201cPART IX\u201d and substituting the words \u201cPART 9\u201d;\n(j)\nby deleting the words \u201cPART X\u201d and substituting the words \u201cPART 10\u201d;\n(k) by deleting the words \u201cPART XI\u201d and substituting the words \u201cPART 11\u201d;\nand\n(l)\nby deleting the words \u201cPART XIII\u201d and substituting the words \u201cPART\n13\u201d.\n3.\nInsertion of Part 9A - sale of assets\n3.\nThe principal Regulations are amended by inserting after regulation 41 the following\nPart \u2014\n\u201cPART 9A \u2013 SALE OF ASSETS\nRequirement to tender for the sale of assets\n41A. A prescribed entity, statutory authority or government company shall offer\nfor public tender the sale of any asset with a book value of fifty thousand\ndollars or more.\u201d.\n4.\nRepeal and substitution of Part XII \u2013 capital project appraisal\n4.\nThe principal Regulations are amended by repealing Part XII and substituting the\nfollowing Part \u2014\n\u201cPART 12 \u2013 Procurement Project and Capital Project\nAppraisal\nRole of the PSIC\n45. (1) The PSIC shall be responsible for \u2014\n(a)\nreceiving, from Chief Officers or Chief Executive Officers, the\nbusiness case and appendices for procurement projects and\ncapital projects, in accordance with prescribed thresholds;\n(b) assessing the viability of procurement projects and capital\nprojects;\n\nFinancial (Amendment) Regulations, 2021\nRegulation 5\n\nc\nSL 65 of 2021\nPage 7\n\n(c)\nreporting on the overall viability of procurement projects and\ncapital projects and making recommendations to the Cabinet as\nto whether or not such projects should proceed; and\n(d) providing the Financial Secretary with an annual report on its\nactivities for the financial year.\n(2) For the purposes of paragraph (1), \u201ccapital project\u201d and\n\u201cprocurement project\u201d have the meaning assigned by section 2 of\nthe Procurement Act, 2016.\u201d.\n5.\nRepeal of Schedule \u2013 project appraisal documents\n5.\nThe principal Regulations are amended by repealing the Schedule.\nMade in Cabinet the 21st day of September, 2021.\nKim Bullings\nClerk of the Cabinet","akn_extracted_at":"2026-06-22 15:41:32.418128+00","cms_id":"2021-0065","law_type":"amending","year":"2021","number":"65","title":"Financial (Amendment) Regulations, 2021 (SL 65 of 2021)","status":"spent"},"provenance":{"files":[{"file_id":"6791","expr_id":"2010","kind":"akn_xml","filename":"2021-0065.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2021\/2021-0065\/2021-0065.akn.xml","content_md5":"2c4da45170e9c479cf973a98ba836320","byte_size":"7158","http_last_modified":null,"fetched_at":"2026-06-22 15:41:32.507656+00"},{"file_id":"4019","expr_id":"2010","kind":"pristine_pdf","filename":"2021-0065.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2021\/2021-0065\/2021-0065.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2021\/2021-0065\/2021-0065.pdf","content_md5":"cbfb7bb14c7a9fc34fa99e050609206e","byte_size":"739203","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.158357+00"},{"file_id":"4020","expr_id":"2010","kind":"working_pdf","filename":"2021-0065.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2021\/2021-0065\/2021-0065.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2021\/2021-0065\/2021-0065.pdf","content_md5":"cbfb7bb14c7a9fc34fa99e050609206e","byte_size":"739203","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.158357+00"}],"paragraph_count":2,"latest_history":null},"quality":{"expr_id":"2010","doc_id":"2010","quality_state":"needs_review","quality_score":"76","needs_human_review":"t","deterministic_categories":"{duplicate_text,page_header_footer_noise}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture}","finding_severity_counts":"{\"medium\": 2}","finding_summary":"repeated line furniture detected: cayman islands x3; public management and finance act x3; 2020 revision x3; duplicate-line ratio is 18.18%","assessed_at":"2026-06-22 15:29:46.391482+00","updated_at":"2026-06-22 15:29:46.391482+00"}}