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These Regulations may be cited as the Beneficial Ownership Transparency (Amendment) Regulations, 2026. 2. Amendment of regulation 2 of the Beneficial Ownership Transparency Regulations, 2024 - definitions 2. The Beneficial Ownership Transparency Regulations, 2024, in these Regulations referred to as the \u201cprincipal Regulations\u201d, are amended in regulation 2 as follows \u2014 (a) by renumbering regulation 2 as regulation 2(1); (b) in regulation 2(1) as renumbered as follows \u2014 (i) by deleting the definition of the words \u201cvoting rights\u201d; and (ii) by inserting after the definition of the words \u201cjoint arrangement\u201d, the following definition \u2014 \u201c \u201clegal entity\u201d means \u2014 (a) a legal person; or Regulation 3 Beneficial Ownership Transparency (Amendment) Regulations, 2026 SL 1 of 2026 (b) an entity established overseas that is similar to a legal person, and includes any other entity established in the Islands or overseas that has separate legal personality under the law by which it is governed;\u201d; and (c) by inserting after regulation 2(1) as renumbered the following paragraph \u2014 \u201c(2) In these Regulations \u2014 (a) a reference to the voting rights in a legal person is to be construed as the rights conferred on shareholders in respect of their shares (or, in the case of a legal person not having a share capital, on members) to vote at general meetings of the legal person on all or substantially all matters; and (b) in relation to a legal person that does not have general meetings at which matters are decided by the exercise of voting rights, a reference to exercising voting rights in the legal person shall be read as a reference to exercising rights in relation to the legal person that are equivalent to those of a person entitled to exercise voting rights in a legal person.\u201d. 3. Amendment of regulation 4 - additional matters where an identified registrable beneficial owner\u2019s particulars are not confirmed 3. The principal Regulations are amended in regulation 4(3) by deleting the words \u201cor section 11\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Amendment of regulation 12 - administrative fine notice 4. The principal Regulations are amended in regulation 12 by repealing paragraph (2).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Amendment of regulation 17 - duty to notify competent authority of discrepancies 5. The principal Regulations are amended in regulation 17 by repealing paragraph (1) and substituting the following paragraph \u2014 \u201c(1) Every person referred to in section 22(2) of the Act, who, by virtue of section 22 of the Act has access to beneficial ownership information, shall notify the competent authority of any discrepancy in the information as soon as reasonably practicable, that being no later than five days after the discrepancy was discovered.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Amendment of regulation 18 - application of Part 6 6. The principal Regulations are amended in regulation 18(b) by deleting the words \u201canother legal person\u201d and substituting the words \u201ca legal entity other than B\u201d. Beneficial Ownership Transparency (Amendment) Regulations, 2026 Regulation 7 SL 1 of 2026 7. Amendment of regulation 20 - holding an interest in a legal person indirectly through a legal entity 7. The principal Regulations are amended in regulation 20 as follows \u2014 (a) by repealing paragraph (1) and substituting the following paragraph \u2014 \u201c(1) This regulation applies where A \u2014 (a) holds an interest in B by virtue of indirectly holding shares or voting rights; and (b) holds an interest in B by virtue of having a majority stake as described in regulation 21 in \u2014 (i) a legal entity (\u201cL\u201d) which holds the shares or voting rights directly in B; or (ii) a legal entity that is part of a chain of legal entities such as is described in regulation 21(1)(b) or (2)(b) that includes L.\u201d; and (b) in paragraph (2)(b), by deleting the words \u201clegal person\u201d and substituting the words \u201clegal entity\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_8\", \"num\": \"8.\", \"text\": \"Amendment of regulation 21 - shares or rights held indirectly 8. The principal Regulations are amended in regulation 21 as follows \u2014 (a) in the regulation heading, by inserting after the word \u201cor\u201d the word \u201cvoting\u201d; and (b) by repealing paragraphs (1) and (2) and substituting the following paragraphs \u2014 \u201c(1) A holds a share indirectly in B if A has a majority stake in a legal entity and that legal entity \u2014 (a) holds the share in B; or (b) is part of a chain of legal entities \u2014 (i) each of which, other than the last, has a majority stake in the legal entity immediately below it in the chain; and (ii) the last of which holds the share in B. (2) A holds voting rights indirectly in B if A has a majority stake in a legal entity and that legal entity \u2014 (a) holds those voting rights; or (b) is part of a chain of legal entities \u2014 (i) each of which, other than the last, has a majority stake in the legal entity immediately below it in the chain; and (ii) the last of which holds those voting rights in B.\u201d. Regulation 9 Beneficial Ownership Transparency (Amendment) Regulations, 2026 SL 1 of 2026\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_9\", \"num\": \"9.\", \"text\": \"Repeal of regulation 27 - voting rights 9. The principal Regulations are amended by repealing regulation 27. 10. Amendment of Schedule 1 - administrative fines 10. The principal Regulations are amended in Schedule 1 by repealing the Schedule heading and substituting the following heading \u2014 \u201cBREACHES FOR WHICH AN ADMINISTRATIVE FINE MAY BE IMPOSED\u201d. Made in Cabinet the 21st day of January, 2026. 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additional matters where an identified registrable beneficial\nowner\u2019s particulars are not confirmed ........................................................................................6\n4.\nAmendment of regulation 12 - administrative fine notice ............................................................6\n5.\nAmendment of regulation 17 - duty to notify competent authority of discrepancies .....................6\n6.\nAmendment of regulation 18 - application of Part 6 ....................................................................6\n7.\nAmendment of regulation 20 - holding an interest in a legal person indirectly through a\nlegal entity .................................................................................................................................7\n8.\nAmendment of regulation 21 - shares or rights held indirectly ....................................................7\n9.\nRepeal of regulation 27 - voting rights ........................................................................................8\n10.\nAmendment of Schedule 1 - administrative fines........................................................................8\n\nBeneficial Ownership Transparency (Amendment) Regulations, 2026\nRegulation 1\n\nc\nSL 1 of 2026\nPage 5\n\nCAYMAN ISLANDS\n\nBeneficial Ownership Transparency Act, 2023\n(Act 13 of 2023)\nBENEFICIAL OWNERSHIP TRANSPARENCY\n(AMENDMENT) REGULATIONS, 2026\n(SL 1 of 2026)\nIn exercise of the powers conferred by sections 26 and 30 of the Beneficial Ownership\nTransparency Act, 2023, the Cabinet makes the following Regulations \u2014\n1.\nCitation\n1.\nThese Regulations may be cited as the Beneficial Ownership Transparency\n(Amendment) Regulations, 2026.\n2.\nAmendment of regulation 2 of the Beneficial Ownership Transparency\nRegulations, 2024 - definitions\n2.\nThe Beneficial Ownership Transparency Regulations, 2024, in these Regulations\nreferred to as the \u201cprincipal Regulations\u201d, are amended in regulation 2 as follows \u2014\n(a)\nby renumbering regulation 2 as regulation 2(1);\n(b) in regulation 2(1) as renumbered as follows \u2014\n(i)\nby deleting the definition of the words \u201cvoting rights\u201d; and\n(ii) by inserting after the definition of the words \u201cjoint arrangement\u201d,\nthe following definition \u2014\n\u201c \u201clegal entity\u201d means \u2014\n(a) a legal person; or\n\nRegulation 3\nBeneficial Ownership Transparency (Amendment) Regulations, 2026\n\nPage 6\nSL 1 of 2026\nc\n\n(b) an entity established overseas that is similar to a legal person,\nand includes any other entity established in the Islands or overseas\nthat has separate legal personality under the law by which it is\ngoverned;\u201d; and\n(c)\nby inserting after regulation 2(1) as renumbered the following\nparagraph \u2014\n\u201c(2) In these Regulations \u2014\n(a)\na reference to the voting rights in a legal person is to be\nconstrued as the rights conferred on shareholders in respect of\ntheir shares (or, in the case of a legal person not having a share\ncapital, on members) to vote at general meetings of the legal\nperson on all or substantially all matters; and\n(b) in relation to a legal person that does not have general meetings\nat which matters are decided by the exercise of voting rights, a\nreference to exercising voting rights in the legal person shall be\nread as a reference to exercising rights in relation to the legal\nperson that are equivalent to those of a person entitled to\nexercise voting rights in a legal person.\u201d.\n3.\nAmendment of regulation 4 - additional matters where an identified\nregistrable beneficial owner\u2019s particulars are not confirmed\n3.\nThe principal Regulations are amended in regulation 4(3) by deleting the words \u201cor\nsection 11\u201d.\n4.\nAmendment of regulation 12 - administrative fine notice\n4.\nThe principal Regulations are amended in regulation 12 by repealing paragraph (2).\n5.\nAmendment of regulation 17 - duty to notify competent authority of\ndiscrepancies\n5.\nThe principal Regulations are amended in regulation 17 by repealing paragraph (1)\nand substituting the following paragraph \u2014\n\u201c(1) Every person referred to in section 22(2) of the Act, who, by virtue\nof section 22 of the Act has access to beneficial ownership\ninformation, shall notify the competent authority of any discrepancy\nin the information as soon as reasonably practicable, that being no\nlater than five days after the discrepancy was discovered.\u201d.\n6.\nAmendment of regulation 18 - application of Part 6\n6.\nThe principal Regulations are amended in regulation 18(b) by deleting the words\n\u201canother legal person\u201d and substituting the words \u201ca legal entity other than B\u201d.\n\nBeneficial Ownership Transparency (Amendment) Regulations, 2026\nRegulation 7\n\nc\nSL 1 of 2026\nPage 7\n\n7.\nAmendment of regulation 20 - holding an interest in a legal person indirectly\nthrough a legal entity\n7.\nThe principal Regulations are amended in regulation 20 as follows \u2014\n(a)\nby repealing paragraph (1) and substituting the following paragraph \u2014\n\u201c(1) This regulation applies where A \u2014\n(a) holds an interest in B by virtue of indirectly holding shares or\nvoting rights; and\n(b) holds an interest in B by virtue of having a majority stake as\ndescribed in regulation 21 in \u2014\n(i)\na legal entity (\u201cL\u201d) which holds the shares or voting rights\ndirectly in B; or\n(ii) a legal entity that is part of a chain of legal entities such as\nis described in regulation 21(1)(b) or (2)(b) that includes\nL.\u201d; and\n(b) in paragraph (2)(b), by deleting the words \u201clegal person\u201d and substituting\nthe words \u201clegal entity\u201d.\n8.\nAmendment of regulation 21 - shares or rights held indirectly\n8.\nThe principal Regulations are amended in regulation 21 as follows \u2014\n(a)\nin the regulation heading, by inserting after the word \u201cor\u201d the word\n\u201cvoting\u201d; and\n(b) by repealing paragraphs (1) and (2) and substituting the following\nparagraphs \u2014\n\u201c(1) A holds a share indirectly in B if A has a majority stake in a legal\nentity and that legal entity \u2014\n(a) holds the share in B; or\n(b) is part of a chain of legal entities \u2014\n(i)\neach of which, other than the last, has a majority stake in\nthe legal entity immediately below it in the chain; and\n(ii) the last of which holds the share in B.\n(2) A holds voting rights indirectly in B if A has a majority stake in a\nlegal entity and that legal entity \u2014\n(a)\nholds those voting rights; or\n(b) is part of a chain of legal entities \u2014\n(i)\neach of which, other than the last, has a majority stake in\nthe legal entity immediately below it in the chain; and\n(ii) the last of which holds those voting rights in B.\u201d.\n\nRegulation 9\nBeneficial Ownership Transparency (Amendment) Regulations, 2026\n\nPage 8\nSL 1 of 2026\nc\n\n9.\nRepeal of regulation 27 - voting rights\n9.\nThe principal Regulations are amended by repealing regulation 27.\n10.\nAmendment of Schedule 1 - administrative fines\n10. The principal Regulations are amended in Schedule 1 by repealing the Schedule\nheading and substituting the following heading \u2014\n\u201cBREACHES FOR WHICH AN ADMINISTRATIVE FINE\nMAY BE IMPOSED\u201d.\nMade in Cabinet the 21st day of January, 2026.\nKim Bullings\nClerk of the Cabinet","akn_extracted_at":"2026-06-22 15:41:18.735596+00","cms_id":"2026-0001S","law_type":"amending","year":"2026","number":"0001S","title":"Beneficial Ownership Transparency (Amendment) Regulations, 2026 (SL 1 of 2026)","status":"spent"},"provenance":{"files":[{"file_id":"6875","expr_id":"2097","kind":"akn_xml","filename":"2026-0001S.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2026\/2026-0001S\/2026-0001S.akn.xml","content_md5":"bca74c6d8a6592860fe887375ffaa85a","byte_size":"10415","http_last_modified":null,"fetched_at":"2026-06-22 15:41:18.806188+00"},{"file_id":"4193","expr_id":"2097","kind":"pristine_pdf","filename":"2026-0001S.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2026\/2026-0001S\/2026-0001S.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2026\/2026-0001S\/2026-0001S.pdf","content_md5":"51b5803939ef22bd978f64c0cf7ccefc","byte_size":"285159","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.219824+00"},{"file_id":"4194","expr_id":"2097","kind":"working_pdf","filename":"2026-0001S.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2026\/2026-0001S\/2026-0001S.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2026\/2026-0001S\/2026-0001S.pdf","content_md5":"51b5803939ef22bd978f64c0cf7ccefc","byte_size":"285159","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.219824+00"}],"paragraph_count":2,"latest_history":null},"quality":{"expr_id":"2097","doc_id":"2097","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; beneficial ownership transparency act 2023 x3; act 13 of 2023 x3; duplicate-line ratio is 16.13%","assessed_at":"2026-06-22 15:29:46.258752+00","updated_at":"2026-06-22 15:29:46.258752+00"}}