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(1) These Regulations may be cited as the Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2024. (2) These Regulations come into force immediately after the Banks and Trust Companies (Amendment) Act, 2024 comes into force. 2. Amendment of regulation 5 of the Banks and Trust Companies (Licence Applications and Fees) Regulations (2021 Revision) - fees payable for first grant of licence 2. The Banks and Trust Companies (Licence Applications and Fees) Regulations (2021 Revision), in these Regulations referred to as the \u201cprincipal Regulations\u201d, are amended in regulation 5 as follows \u2014 (a) in paragraph (a), by deleting the words \u201c$600,000\u201d and substituting the words \u201c$750,000\u201d; Regulation 3 Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2024 SL 66 of 2024 (b) in paragraph (d), by deleting the words \u201c$600,000\u201d and substituting the words \u201c$750,000\u201d; (c) in paragraph (i), by deleting the words \u201c$70,000\u201d and substituting the words \u201c$90,000\u201d; (d) in paragraph (l), by deleting the words \u201c$7,000\u201d and substituting the words \u201c$8,000\u201d; and (e) in paragraph (m), by deleting the words \u201c$7,000\u201d and substituting the words \u201c$8,000\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Amendment of regulation 6 - fees payable for renewal of licence 3. The principal Regulations are amended in regulation 6 as follows \u2014 (a) in paragraph (m), by deleting the words \u201c$90,000\u201d and substituting the words \u201c$95,500\u201d; (b) in paragraph (n), by deleting the words \u201c$90,000\u201d and substituting the words \u201c$95,500\u201d; (c) in paragraph (o), by deleting the words \u201c$90,000\u201d and substituting the words \u201c$95,500\u201d; (d) in paragraph (v), by deleting the words \u201c$7,000\u201d and substituting the words \u201c$8,000\u201d; and (e) in paragraph (w), by deleting the words \u201c$6,000\u201d and substituting the words \u201c$7,000\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Amendment of regulation 7 - fees payable for registration of controlled subsidiary 4. The principal Regulations are amended in regulation 7 by deleting the words \u201c$7,000\u201d, wherever they appear, and substituting the words \u201c$8,000\u201d. 5. Amendment of regulation 7A - annual fees in relation to provision of registered office services 5. The principal Regulations are amended in regulation 7A by deleting the words \u201cunder section 15A is $75\u201d and substituting the words \u201cunder section 15A is one hundred dollars\u201d. Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2024 Regulation 6 SL 66 of 2024 6. Amendment of the Schedule - application for a licence 6. The principal Regulations are amended in the Schedule as follows \u2014 (a) by deleting the Schedule heading and substituting the following \u2014 \u201cSCHEDULE (regulation 4) Requirements for an application for a licence\u201d; and (b) by deleting item 16 and substituting the following item \u2014 \u201c16. The  relevant application fee set out below \u2014 (a) ten thousand dollars for an \u201cA\u201d licence alone; (b) four thousand dollars for a \u201cB\u201d licence alone; (c) three thousand, five hundred dollars for a trust licence alone; or (d) three thousand, five hundred dollars for any other single licence under the Act.\u201d. Made in Cabinet the 17th day of December, 2024. Kim Bullings Clerk of the Cabinet\", \"element\": \"section\", \"heading\": null}], \"meta\": {\"notes\": null, \"workflow\": null, \"lifecycle\": {\"source\": \"#cilegis\", \"eventRef\": [{\"eId\": \"e_commence_2024_01_01\", \"date\": \"2024-01-01\", \"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_2024_01_01\", \"timeInterval\": [{\"end\": null, \"start\": \"#e_commence_2024_01_01\", \"duration\": null, \"refersTo\": \"#inForce\"}]}]}, \"classification\": null, \"identification\": {\"source\": \"#cilegis\", \"FRBRWork\": {\"FRBRuri\": \"\/akn\/ky\/act\/amending\/2024\/66\", \"FRBRdate\": [{\"date\": \"2024-01-01\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/amending\/2024\/66\/!main\", \"FRBRalias\": [{\"name\": \"cmsId\", \"value\": \"2024-0066\"}], \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRnumber\": \"66 of 2024\", \"FRBRcountry\": \"ky\", \"FRBRsubtype\": \"amending\"}, \"FRBRExpression\": {\"FRBRuri\": \"\/akn\/ky\/act\/amending\/2024\/66\/eng@2024-01-01\", \"FRBRdate\": [{\"date\": \"2024-01-01\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/amending\/2024\/66\/eng@2024-01-01\/!main\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRlanguage\": \"eng\"}, \"FRBRManifestation\": {\"FRBRuri\": \"\/akn\/ky\/act\/amending\/2024\/66\/eng@2024-01-01.xml\", \"FRBRdate\": [{\"date\": \"2026-06-22\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/amending\/2024\/66\/eng@2024-01-01.xml\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRformat\": \"application\/xml\"}}}, \"name\": \"act\", \"header\": {\"title\": \"Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2024 (SL 66 of 2024)\", \"actNumber\": \"66 of 2024\", \"longTitle\": null}}, \"doc\": null, \"bill\": null, \"judgment\": null}}","akn_full_text":"CAYMAN ISLANDS\n\nBanks and Trust Companies Act\n(2021 Revision)\nBANKS AND TRUST COMPANIES\n(LICENCE APPLICATIONS AND FEES)\n(AMENDMENT) REGULATIONS, 2024\n\n(SL 66 of 2024)\nSupplement No. 32 published with Legislation Gazette No. 47 dated 19th December, 2024.\n\u2000\n\nPage 2\nSL 66 of 2024\nc\n\nPUBLISHING DETAILS\n\nBanks and Trust Companies (Licence Applications and Fees)\n(Amendment) Regulations, 2024\nArrangement of Regulations\n\nc\nSL 66 of 2024\nPage 3\n\nCAYMAN ISLANDS\n\nBanks and Trust Companies Act\n(2021 Revision)\nBANKS AND TRUST COMPANIES (LICENCE\nAPPLICATIONS AND FEES) (AMENDMENT)\nREGULATIONS, 2024\n(SL 66 of 2024)\nArrangement of Regulations\nRegulations\nPage\n1.\nCitation and commencement .....................................................................................................5\n2.\nAmendment of regulation 5 of the Banks and Trust Companies (Licence Applications and\nFees) Regulations (2021 Revision) - fees payable for first grant of licence ................................5\n3.\nAmendment of regulation 6 - fees payable for renewal of licence ...............................................6\n4.\nAmendment of regulation 7 - fees payable for registration of controlled subsidiary .....................6\n5.\nAmendment of regulation 7A - annual fees in relation to provision of registered office\nservices .....................................................................................................................................6\n6.\nAmendment of the Schedule - application for a licence ..............................................................7\n\nBanks and Trust Companies (Licence Applications and Fees)\n(Amendment) Regulations, 2024\nRegulation 1\n\nc\nSL 66 of 2024\nPage 5\n\nCAYMAN ISLANDS\n\nBanks and Trust Companies Act\n(2021 Revision)\nBANKS AND TRUST COMPANIES (LICENCE\nAPPLICATIONS AND FEES) (AMENDMENT)\nREGULATIONS, 2024\n(SL 66 of 2024)\nIn exercise of the powers conferred by section 27 of the Banks and Trust Companies Act\n(2021 Revision), the Cabinet makes the following Regulations \u2014\n1.\nCitation and commencement\n1.\n(1) These Regulations may be cited as the Banks and Trust Companies (Licence\nApplications and Fees) (Amendment) Regulations, 2024.\n(2) These Regulations come into force immediately after the Banks and Trust\nCompanies (Amendment) Act, 2024 comes into force.\n2.\nAmendment of regulation 5 of the Banks and Trust Companies (Licence\nApplications and Fees) Regulations (2021 Revision) - fees payable for first\ngrant of licence\n2.\nThe Banks and Trust Companies (Licence Applications and Fees) Regulations (2021\nRevision), in these Regulations referred to as the \u201cprincipal Regulations\u201d, are\namended in regulation 5 as follows \u2014\n(a)\nin paragraph (a), by deleting the words \u201c$600,000\u201d and substituting the\nwords \u201c$750,000\u201d;\n\nRegulation 3\nBanks and Trust Companies (Licence Applications and Fees)\n(Amendment) Regulations, 2024\n\nPage 6\nSL 66 of 2024\nc\n\n(b) in paragraph (d), by deleting the words \u201c$600,000\u201d and substituting the\nwords \u201c$750,000\u201d;\n(c)\nin paragraph (i), by deleting the words \u201c$70,000\u201d and substituting the\nwords \u201c$90,000\u201d;\n(d) in paragraph (l), by deleting the words \u201c$7,000\u201d and substituting the words\n\u201c$8,000\u201d; and\n(e)\nin paragraph (m), by deleting the words \u201c$7,000\u201d and substituting the\nwords \u201c$8,000\u201d.\n3.\nAmendment of regulation 6 - fees payable for renewal of licence\n3.\nThe principal Regulations are amended in regulation 6 as follows \u2014\n(a)\nin paragraph (m), by deleting the words \u201c$90,000\u201d and substituting the\nwords \u201c$95,500\u201d;\n(b) in paragraph (n), by deleting the words \u201c$90,000\u201d and substituting the\nwords \u201c$95,500\u201d;\n(c)\nin paragraph (o), by deleting the words \u201c$90,000\u201d and substituting the\nwords \u201c$95,500\u201d;\n(d) in paragraph (v), by deleting the words \u201c$7,000\u201d and substituting the\nwords \u201c$8,000\u201d; and\n(e)\nin paragraph (w), by deleting the words \u201c$6,000\u201d and substituting the\nwords \u201c$7,000\u201d.\n4.\nAmendment of regulation 7 - fees payable for registration of controlled\nsubsidiary\n4.\nThe principal Regulations are amended in regulation 7 by deleting the words\n\u201c$7,000\u201d, wherever they appear, and substituting the words \u201c$8,000\u201d.\n5.\nAmendment of regulation 7A - annual fees in relation to provision of\nregistered office services\n5.\nThe principal Regulations are amended in regulation 7A by deleting the words \u201cunder\nsection 15A is $75\u201d and substituting the words \u201cunder section 15A is one hundred\ndollars\u201d.\n\nBanks and Trust Companies (Licence Applications and Fees)\n(Amendment) Regulations, 2024\nRegulation 6\n\nc\nSL 66 of 2024\nPage 7\n\n6.\nAmendment of the Schedule - application for a licence\n6.\nThe principal Regulations are amended in the Schedule as follows \u2014\n(a)\nby deleting the Schedule heading and substituting the following \u2014\n\u201cSCHEDULE\n(regulation 4)\nRequirements for an application for a licence\u201d; and\n\n(b) by deleting item 16 and substituting the following item \u2014\n\u201c16. The  relevant application fee set out below \u2014\n(a)\nten thousand dollars for an \u201cA\u201d licence alone;\n(b) four thousand dollars for a \u201cB\u201d licence alone;\n(c)\nthree thousand, five hundred dollars for a trust licence alone; or\n(d) three thousand, five hundred dollars for any other single licence\nunder the Act.\u201d.\nMade in Cabinet the 17th day of December, 2024.\nKim Bullings\nClerk of the Cabinet","akn_extracted_at":"2026-06-22 15:41:17.688492+00","cms_id":"2024-0066","law_type":"amending","year":"2024","number":"66","title":"Banks and Trust Companies (Licence Applications and Fees) (Amendment) Regulations, 2024 (SL 66 of 2024)","status":"spent"},"provenance":{"files":[{"file_id":"6832","expr_id":"2052","kind":"akn_xml","filename":"2024-0066.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2024\/2024-0066\/2024-0066.akn.xml","content_md5":"7bcab0eb2e1971069c8d8a6764e6f382","byte_size":"7805","http_last_modified":null,"fetched_at":"2026-06-22 15:41:17.751114+00"},{"file_id":"4103","expr_id":"2052","kind":"pristine_pdf","filename":"2024-0066.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2024\/2024-0066\/2024-0066.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2024\/2024-0066\/2024-0066.pdf","content_md5":"d89e188f13ccfaaf0d96fa9aeadcf15f","byte_size":"270664","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.185814+00"},{"file_id":"4104","expr_id":"2052","kind":"working_pdf","filename":"2024-0066.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2024\/2024-0066\/2024-0066.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2024\/2024-0066\/2024-0066.pdf","content_md5":"d89e188f13ccfaaf0d96fa9aeadcf15f","byte_size":"270664","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.185814+00"}],"paragraph_count":11,"latest_history":null},"quality":{"expr_id":"2052","doc_id":"2052","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; banks and trust companies act x3; 2021 revision x3; duplicate-line ratio is 23.48%","assessed_at":"2026-06-22 15:29:46.253351+00","updated_at":"2026-06-22 15:29:46.253351+00"}}