{"kind":"expression","expression":{"expr_id":"2185","doc_id":"2185","label":"Insurance (Amendment) Law, 2019","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\/bill\/2019\/14\/eng@2019-01-01","akn_envelope":"{\"_canary\": {\"iri\": {\"work\": \"\/akn\/ky\/bill\/2019\/14\", \"expression\": \"\/akn\/ky\/bill\/2019\/14\/eng@2019-01-01\", \"manifestation\": \"\/akn\/ky\/bill\/2019\/14\/eng@2019-01-01.pdf\"}, \"pdf\": {\"md5\": \"c151dfc3240c65d7ea6a306a8e33628c\", \"path\": \"\/Users\/q\/kyleg-data\/working\/BILLS\/2019\/2019-0014\/2019-0014.pdf\", \"pages\": 8, \"filename\": \"2019-0014.pdf\"}, \"errors\": [], \"extraction\": {\"model\": null, \"stats\": {\"word_count\": 1014, \"paragraph_count\": 6, \"text_char_count\": 6783}, \"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\": null, \"doc\": null, \"bill\": {\"body\": [{\"eId\": \"sec_n1\", \"num\": null, \"text\": \"MUTUAL FUNDS (AMENDMENT) BILL, A BILL FOR A LAW TO AMEND THE MUTUAL FUNDS LAW (2019 REVISION) TO REQUIRE LICENSEES PROVIDING COMPANY MANAGEMENT SERVICES TO COMPLY WITH PART XVIIA OF THE COMPANIES LAW (2018 REVISION), PART 12 OF THE LIMITED LIABILITY COMPANIES LAW (2018 REVISION) AND PART 8 OF THE LIMITED LIABILITY PARTNERSHIP LAW, 2017; AND FOR INCIDENTAL AND CONNECTED PURPOSES Introduced PUBLISHING DETAILS Sponsoring Ministry\/Portfolio: Ministry of Financial Services and Home Affairs (FSHA) Mutual Funds (Amendment) Bill, 2019 Objects and Reasons Introduced Memorandum of OBJECTS AND REASONS This Bill seeks to amend the Mutual Funds Law (2019 Revision) (\u201cthe principal Law\u201d) to require licensed mutual fund administrators who are providing company management services to comply with the requirements of Part XVIIA of the Companies Law (2018 Revision), Part 12 of the Limited Liability Companies Law (2018 Revision) and Part 8 of the Limited Liability Partnership Law, 2017. The legislation also empowers the Authority to take action where the Law or the Anti-Money Laundering Regulations (2018 Revision) are contravened and provides for incidental and connected purposes. Clause 1 sets out the short title of the legislation. Clause 2 seeks to amend section 30 of the principal Law to enable the Authority to sanction a regulated mutual fund or an EU Connected Fund that contravenes any provision of the principal Law or the Anti-Money Laundering Regulations (2018 Revision). Clause 3 seeks to amend section 31 of the principal Law to enable the Authority to sanction a licensee that contravenes any provision of the principal Law, the Anti-Money Laundering Regulations (2018 Revision), Part XVIIA of the Companies Law (2018 Revision), Part 12 of the Limited Liability Companies Law (2018 Revision) or Part 8 of the Limited Liability Partnership Law, 2017. Clause 4 seeks to amend section 33 of the principal Law to empower the Authority to apply for a search warrant if the Authority has reasonable grounds for suspecting that Part XVIIA of the Companies Law (2018 Revision), Part 12 of the Limited Liability Companies Law (2018 Revision), or Part 8 of the Limited Liability Partnership Law, 2017 is being contravened by a licensee who is a \u201ccorporate services provider\u201d as defined in that Part. Clause 5 seeks to amend section 35 of the principal Law to require an auditor to give notice to the Authority where the auditor suspects that, in respect of licensed mutual funds administrators, Part XVIIA of the Companies Law (2018 Revision), Part 12 of the Limited Liability Companies Law (2018 Revision) or Part 8 of the Limited Liability Partnership Law, 2017 is being contravened by a licensee who is a \u201ccorporate services provider\u201d as defined in that Part. Mutual Funds (Amendment) Bill, 2019 Arrangement of Clauses Introduced MUTUAL FUNDS (AMENDMENT) BILL, 2019 Arrangement of Clauses Clause 1.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of section 30 of the Mutual Funds Law (2019 Revision) \u2013 powers of Authority\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Amendment of section 31\u2013 powers of Authority in respect of licensed mutual fund\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Amendment of section 33 \u2013 powers of Authority, etc., to search in accordance with\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Mutual Funds (Amendment) Bill, 2019 Clause 1 Introduced MUTUAL FUNDS (AMENDMENT) BILL, 2019 A BILL FOR A LAW TO AMEND THE MUTUAL FUNDS LAW (2019 REVISION) TO REQUIRE LICENSEES PROVIDING COMPANY MANAGEMENT SERVICES TO COMPLY WITH PART XVIIA OF THE COMPANIES LAW (2018 REVISION), PART 12 OF THE LIMITED LIABILITY COMPANIES LAW (2018 REVISION) AND PART 8 OF THE LIMITED LIABILITY PARTNERSHIP LAW, 2017; AND FOR INCIDENTAL AND CONNECTED PURPOSES ENACTED by the Legislature of the Cayman Islands.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_1\", \"num\": \"1.\", \"text\": \"Short title 1. This Law may be cited as the Mutual Funds (Amendment) Law, 2019. 2. Amendment of section 30 of the Mutual Funds Law (2019 Revision) \u2013 powers of Authority in respect of regulated mutual funds or regulated EU Connected Funds 2. Section 30(1) of the Mutual Funds Law (2019 Revision), in this Law referred to as \u201cthe principal Law\u201d, is amended by inserting after paragraph (b), the following paragraph \u2014 \u201c(ba) a regulated mutual fund or EU Connected Fund has contravened any provision of this Law or of the Anti-Money Laundering Regulations (2018 Revision);\u201d. Clause 3 Mutual Funds (Amendment) Bill, 2019 Introduced 3. Amendment of section 31\u2013 powers of Authority in respect of licensed mutual fund administrators 3. The principal Law is amended in section 31(1) by inserting after paragraph (a), the following paragraphs \u2014 \u201c(aa) a licensed mutual fund administrator has contravened any provision of this Law or of the Anti-Money Laundering Regulations (2018 Revision); (ab) a licensed mutual fund administrator who is a \u201ccorporate services provider\u201d as defined in Part XVIIA of the Companies Law (2018 Revision), Part 12 of the Limited Liability Companies Law (2018 Revision) or Part 8 of the Limited Liability Partnership Law, 2017, has contravened that Part;\u201d. 4. Amendment of section 33 \u2013 powers of Authority, etc., to search in accordance with search warrant 4. The principal Law is amended in section 33(1) by inserting after the word \u201cLaw\u201d wherever it appears, the words \u201c, Part XVIIA of the Companies Law (2018 Revision), Part 12 of the Limited Liability Companies Law (2018 Revision) or Part 8 of the Limited Liability Partnership Law, 2017\u201d. 5. Amendment of section 35 \u2013 obligation of auditors 5. The principal Law is amended in section 35(2)(e), by inserting after subparagraph (i), the following subparagraph \u2014 \u201c(ia) in respect of a licensed mutual funds administrator, Part XVIIA of the Companies Law (2018 Revision), Part 12 of the Limited Liability Companies Law (2018 Revision) and Part 8 of the Limited Liability Partnership Law, 2017, if the licensee is a \u201ccorporate services provider\u201d as defined in that Part;\u201d. Passed by the Legislative Assembly the       day of                    , 2019. 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The legislation also empowers the Authority\nto take action where the Law or the Anti-Money Laundering Regulations (2018 Revision)\nare contravened and provides for incidental and connected purposes.\nClause 1 sets out the short title of the legislation.\nClause 2 seeks to amend section 30 of the principal Law to enable the Authority to sanction\na regulated mutual fund or an EU Connected Fund that contravenes any provision of the\nprincipal Law or the Anti-Money Laundering Regulations (2018 Revision).\nClause 3 seeks to amend section 31 of the principal Law to enable the Authority to sanction\na licensee that contravenes any provision of the principal Law, the Anti-Money Laundering\nRegulations (2018 Revision), Part XVIIA of the Companies Law (2018 Revision), Part 12\nof the Limited Liability Companies Law (2018 Revision) or Part 8 of the Limited Liability\nPartnership Law, 2017.\nClause 4 seeks to amend section 33 of the principal Law to empower the Authority to apply\nfor a search warrant if the Authority has reasonable grounds for suspecting that Part XVIIA\nof the Companies Law (2018 Revision), Part 12 of the Limited Liability Companies Law\n(2018 Revision), or Part 8 of the Limited Liability Partnership Law, 2017 is being\ncontravened by a licensee who is a \u201ccorporate services provider\u201d as defined in that Part.\nClause 5 seeks to amend section 35 of the principal Law to require an auditor to give notice\nto the Authority where the auditor suspects that, in respect of licensed mutual funds\nadministrators, Part XVIIA of the Companies Law (2018 Revision), Part 12 of the Limited\nLiability Companies Law (2018 Revision) or Part 8 of the Limited Liability Partnership\nLaw, 2017 is being contravened by a licensee who is a \u201ccorporate services provider\u201d as\ndefined in that Part.\n\nMutual Funds (Amendment) Bill, 2019\nArrangement of Clauses\n\nc\nIntroduced\nPage 5\n\nCAYMAN ISLANDS\n\nMUTUAL FUNDS (AMENDMENT) BILL, 2019\n\nArrangement of Clauses\nClause\nPage\n1.\nShort title ...................................................................................................................................7\n2.\nAmendment of section 30 of the Mutual Funds Law (2019 Revision) \u2013 powers of Authority\nin respect of regulated mutual funds or regulated EU Connected Funds ....................................7\n3.\nAmendment of section 31\u2013 powers of Authority in respect of licensed mutual fund\nadministrators ............................................................................................................................8\n4.\nAmendment of section 33 \u2013 powers of Authority, etc., to search in accordance with\nsearch warrant ...........................................................................................................................8\n5.\nAmendment of section 35 \u2013 obligation of auditors ......................................................................8\n\nMutual Funds (Amendment) Bill, 2019\nClause 1\n\nc\nIntroduced\nPage 7\n\nCAYMAN ISLANDS\n\nMUTUAL FUNDS (AMENDMENT) BILL, 2019\n\nA BILL FOR A LAW TO AMEND THE MUTUAL FUNDS LAW (2019 REVISION) TO\nREQUIRE LICENSEES PROVIDING COMPANY MANAGEMENT SERVICES TO\nCOMPLY WITH PART XVIIA OF THE COMPANIES LAW (2018 REVISION), PART 12 OF\nTHE LIMITED LIABILITY COMPANIES LAW (2018 REVISION) AND PART 8 OF THE\nLIMITED LIABILITY PARTNERSHIP LAW, 2017; AND FOR INCIDENTAL AND\nCONNECTED PURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Law may be cited as the Mutual Funds (Amendment) Law, 2019.\n2.\nAmendment of section 30 of the Mutual Funds Law (2019 Revision) \u2013 powers\nof Authority in respect of regulated mutual funds or regulated EU Connected\nFunds\n2.\nSection 30(1) of the Mutual Funds Law (2019 Revision), in this Law referred to as\n\u201cthe principal Law\u201d, is amended by inserting after paragraph (b), the following\nparagraph \u2014\n\u201c(ba) a regulated mutual fund or EU Connected Fund has contravened\nany provision of this Law or of the Anti-Money Laundering\nRegulations (2018 Revision);\u201d.\n\nClause 3\nMutual Funds (Amendment) Bill, 2019\n\nPage 8\nIntroduced\nc\n\n3.\nAmendment of section 31\u2013 powers of Authority in respect of licensed mutual\nfund administrators\n3.\nThe principal Law is amended in section 31(1) by inserting after paragraph (a), the\nfollowing paragraphs \u2014\n\u201c(aa)\na licensed mutual fund administrator has contravened any\nprovision of this Law or of the Anti-Money Laundering\nRegulations (2018 Revision);\n(ab) a licensed mutual fund administrator who is a \u201ccorporate\nservices provider\u201d as defined in Part XVIIA of the Companies\nLaw (2018 Revision), Part 12 of the Limited Liability\nCompanies Law (2018 Revision) or Part 8 of the Limited\nLiability Partnership Law, 2017, has contravened that Part;\u201d.\n4.\nAmendment of section 33 \u2013 powers of Authority, etc., to search in\naccordance with search warrant\n4.\nThe principal Law is amended in section 33(1) by inserting after the word \u201cLaw\u201d\nwherever it appears, the words \u201c, Part XVIIA of the Companies Law (2018 Revision),\nPart 12 of the Limited Liability Companies Law (2018 Revision) or Part 8 of the\nLimited Liability Partnership Law, 2017\u201d.\n5.\nAmendment of section 35 \u2013 obligation of auditors\n5.\nThe principal Law is amended in section 35(2)(e), by inserting after subparagraph (i),\nthe following subparagraph \u2014\n\u201c(ia) in respect of a licensed mutual funds administrator, Part\nXVIIA of the Companies Law (2018 Revision), Part 12 of\nthe Limited Liability Companies Law (2018 Revision) and\nPart 8 of the Limited Liability Partnership Law, 2017, if\nthe licensee is a \u201ccorporate services provider\u201d as defined\nin that Part;\u201d.\n\nPassed by the Legislative Assembly the       day of                    , 2019.\n\nSpeaker\n\nClerk of the Legislative Assembly","akn_extracted_at":"2026-06-22 15:41:43.662895+00","cms_id":"2019-0014","law_type":"bill","year":"2019","number":"14","title":"Insurance (Amendment) Law, 2019","status":"bill"},"provenance":{"files":[{"file_id":"6984","expr_id":"2185","kind":"akn_xml","filename":"2019-0014.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2019\/2019-0014\/2019-0014.akn.xml","content_md5":"4b239d8cdbb35d5da183d6d82e0b4e82","byte_size":"9134","http_last_modified":null,"fetched_at":"2026-06-22 15:41:43.774001+00"},{"file_id":"4369","expr_id":"2185","kind":"pristine_pdf","filename":"2019-0014.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2019\/2019-0014\/2019-0014.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/BILLS\/2019\/2019-0014\/2019-0014.pdf","content_md5":"c151dfc3240c65d7ea6a306a8e33628c","byte_size":"759435","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.275753+00"},{"file_id":"4370","expr_id":"2185","kind":"working_pdf","filename":"2019-0014.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2019\/2019-0014\/2019-0014.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2019\/2019-0014\/2019-0014.pdf","content_md5":"c151dfc3240c65d7ea6a306a8e33628c","byte_size":"759435","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.275753+00"}],"paragraph_count":14,"latest_history":null},"quality":{"expr_id":"2185","doc_id":"2185","quality_state":"known_issue","quality_score":"59","needs_human_review":"t","deterministic_categories":"{duplicate_text,page_header_footer_noise,title_mismatch}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture,verify_title_metadata}","finding_severity_counts":"{\"low\": 1, \"high\": 1, \"medium\": 1}","finding_summary":"stored title is not visible in the opening extracted text; 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