{"kind":"expression","expression":{"expr_id":"2220","doc_id":"2220","label":"Limited Liability Companies (Amendment) (No. 2) Law, 2020 (Law 20 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\/bill\/2020\/20\/eng@2020-01-01","akn_envelope":"{\"_canary\": {\"iri\": {\"work\": \"\/akn\/ky\/bill\/2020\/20\", \"expression\": \"\/akn\/ky\/bill\/2020\/20\/eng@2020-01-01\", \"manifestation\": \"\/akn\/ky\/bill\/2020\/20\/eng@2020-01-01.pdf\"}, \"pdf\": {\"md5\": \"7367858ed596b0a9935a16b25610cefd\", \"path\": \"\/Users\/q\/kyleg-data\/working\/BILLS\/2020\/2020-0020\/2020-0020.pdf\", \"pages\": 13, \"filename\": \"2020-0020.pdf\"}, \"errors\": [], \"extraction\": {\"model\": null, \"stats\": {\"word_count\": 2118, \"paragraph_count\": 18, \"text_char_count\": 13977}, \"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\": \"LIMITED LIABILITY COMPANIES (AMENDMENT) (NO.2) BILL, 2020 A BILL FOR A LAW TO AMEND THE LIMITED LIABILITY COMPANIES LAW (2020 REVISION) TO PROVIDE FOR AN ADMINISTRATIVE PENALTY REGIME; AND FOR INCIDENTAL AND CONNECTED PURPOSES Introduced PUBLISHING DETAILS Sponsoring Ministry\/Portfolio: Ministry of Financial Services and Home Affairs (FSHA) Limited Liability Companies (Amendment) (No.2) Bill, 2020 Objects and Reasons Introduced Memorandum of OBJECTS AND REASONS This Bill seeks to amend the Limited Liability Companies Law (2020 Revision) (the \u201cprincipal Law\u201d) to provide for an administrative penalty regime. Clause 1 provides for the short title. Clause 2 provides for the insertion of Part 10A in the Limited Liability Companies Law (2020 Revision). The new Part 10A sets out the administrative fine framework. The proposed new section 56A. empowers the Registrar to impose administrative fines on persons who breach any provision specified in the Schedule. The proposed new section 56B further provides that the fine for an initial breach is five thousand dollars. The new section also provides that the Registrar may, in addition to the fine for the initial breach, impose a further fine of one thousand dollars for every month during which the breach continues until either the breach stops, payment is made for the initial fine and the fines for the continuing breaches or the total of the fines amount to twenty thousand dollars. The proposed new section 56F provides that the Registrar may issue guidance on the enforcement of administrative fines. The proposed new section 56H empowers the Cabinet to, among other things, provide for the forms and procedures, for imposing fines and for appeals against decisions under Part 10A by way of regulations. Clause 3 provides for an amendment to section 71 of the principal Law by deleting the words \u201cexcluded person\u201d and substituting the words \u201cregistered person\u201d wherever they appear. The amendment is consequent upon amendments to the Securities Investment Business Law (2020 Revision) that removed the category of excluded persons\u201d. Clauses 4 to 7 provide for amendments to sections 91, 96, 97, 99 and 106 of the principal Law to adjust the specified references to \u201climited liability company\u201d to references to \u201ccorporate services provider\u201d. The amendment, in each case, relates to shifting the responsibility for issuing a restrictions notice from the limited liability company to the corporate services provider. Clause 8 of the Bill provides for the insertion of the Schedule into the principal Law. The new schedule is being inserted pursuant to the amendments to section 56A to provide for administrative fines. Clause 9 provides for a transition period regarding clauses 2 and 8 of the Bill. The specified provisions shall not apply to any person until thirty days after the commencement of this amending Law. Limited Liability Companies (Amendment) (No.2) Bill, 2020 Arrangement of Clauses Introduced LIMITED LIABILITY COMPANIES (AMENDMENT) (NO.2) BILL, 2020 Arrangement of Clauses Clause 1.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Insertion of Part 10A in the Limited Liability Companies Law (2020 Revision) \u2013 3. 4.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Amendment of sections 96, 97 and 106 - relaxation of restrictions; orders for sale; and 6. 7. 8.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_9\", \"num\": \"9.\", \"text\": \"Limited Liability Companies (Amendment) (No.2) Bill, 2020 Clause 1 Introduced LIMITED LIABILITY COMPANIES (AMENDMENT) (NO.2) BILL, 2020 A BILL FOR A LAW TO AMEND THE LIMITED LIABILITY COMPANIES LAW (2020 REVISION) TO PROVIDE FOR AN ADMINISTRATIVE PENALTY REGIME; 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 Limited Liability Companies (Amendment) (No.2) Law, 2020. 2. Insertion of Part 10A in the Limited Liability Companies Law (2020 Revision) \u2013 administrative fines 2. The Limited Liability Companies Law (2020 Revision), in this Law referred to as the \u201cprincipal Law\u201d, is amended by inserting after Part 10 the following Part \u2014 Clause 2 Limited Liability Companies (Amendment) (No.2) Bill, 2020 Introduced \u201cPart 10A \u2013 Administrative fines Registrar\u2019s power to fine 56A.(1) The Registrar has the power to impose an administrative fine on a person who breaches a provision of this Law that is specified in the Schedule. (2) Cabinet may by order amend the Schedule. Fine amounts 56B. The fine shall be five thousand dollars for a breach and the Registrar may, in addition to the fine for the initial breach, impose a further fine of one thousand dollars for every month that the breach continues until one of the following occurs \u2014 (a) the breach stops or is remedied; (b) payment of the initial fine and all fines imposed for the continuing breach; or (c) the total of the initial fine and all fines for the continuing breach amounts to twenty thousand dollars. The power to fine 56C.For the avoidance of doubt \u2014 (a) a fine may be imposed for a breach that is not an offence; (b) where a breach set out in the Schedule is also an offence, a fine for the breach is not limited by the penalty under the provision or by sections 6(2) and 8 of the Criminal Procedure Code (2019 Revision). Limitation period 56D. (1) The Registrar shall not impose a fine after the expiration of six months after the date on which the Registrar became aware of the commission of  the breach. (2) For subsection (1), the Registrar shall be deemed to have become aware of the breach when information was first received from which the breach can reasonably be inferred. Relationship with penalties 56E. If a breach set out in the Schedule is an offence, a fine for the breach shall not preclude a prosecution for the breach or liability for any relevant fees. Limited Liability Companies (Amendment) (No.2) Bill, 2020 Clause 3 Introduced Registrar may issue guidance 56F. The Registrar may issue guidance on the enforcement of administrative fines under this Law. Registrar\u2019s rule-making power for Part 56G. The Registrar may, by rules published in the Gazette, provide for \u2014 (a) aggravating and mitigating factors for fines; and (b) the publication of fines imposed in accordance with this Part. Regulation-making powers for this Part 56H. Regulations made by Cabinet may provide for \u2014 (a) forms and procedures for imposing fines; (b) appeals against decisions under this Part; (c) how fines shall be paid and may be enforced; (d) interest on outstanding fines; (e) evidentiary provisions for proceedings relating to this Part; and (f) other matters required or permitted to be prescribed under this Part or that are necessary or convenient to give effect to the purposes or provisions of this Part.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Amendment of section 71 - application 3. The principal Law is amended in sections 71(1)(b) and 71(2)(a) by deleting the words \u201c an excluded person\u201d wherever they appear and substituting the words \u201ca registered person\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Amendment of section 91 - right to issue restrictions notice 4. The principal Law is amended in section 91 as follows \u2014 (a) in subsection (1), by deleting the words \u201cA limited liability company\u201d and substituting the words \u201c A corporate services provider for a limited liability company\u201d; and (b) in subsection (2), by deleting the words \u201cthe limited liability company\u201d and substituting the words \u201cthe corporate services provider\u201d. 5. Amendment of sections 96, 97 and 106 - relaxation of restrictions; orders for sale; and regulations 5. The principal Law is amended in sections 96(1), 97(1) and 97(2) by deleting the words \u201climited liability company\u201d wherever they appear and substituting the words \u201ccorporate services provider\u201d. Clause 6 Limited Liability Companies (Amendment) (No.2) Bill, 2020 Introduced\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Amendment of section 99 - limited liability company may withdraw restrictions notice 6. The principal Law is amended in section 99 as follows \u2014 (a) in the section heading, by deleting the words \u201climited liability company\u201d and substituting the words \u201ccorporate services provider\u201d; and (b) by deleting the words \u201climited liability company\u201d wherever they appear and substituting the words \u201ccorporate services provider\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_7\", \"num\": \"7.\", \"text\": \"Amendment of section 106 - regulations 7. The principal Law is amended in section 106(1)(g) by deleting the words \u201climited liability companies\u201d and substituting the words \u201ccorporate services providers\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_8\", \"num\": \"8.\", \"text\": \"Amendment of the principal Law- insertion of the Schedule 8. The principal Law is amended by inserting after section 107 the following Schedule \u2014 \u201cSCHEDULE (section 56A) Administrative fines No. Description of breach 1. 73(1) Failure of a limited liability company to take reasonable steps to identify any beneficial owner of the limited liability company. 2. 74(1) Failure of a limited liability company to take reasonable steps to identify any relevant legal entities. 3. 75(1) Failure of a limited liability company to give notice in writing to beneficial owners and relevant legal entities identified under sections 73 and 74. 4. 76(2) Failure of a beneficial owner or relevant legal entity to supply information under section 76(2) within the timeframe specified at 76(3). Limited Liability Companies (Amendment) (No.2) Bill, 2020 Clause 8 Introduced No. Description of breach 5. Failure of a limited liability company to keep its beneficial ownership register at the registered office. 6. 79(1) Failure of a limited liability company to provide in writing to a corporate services provider or to the Registrar the required particulars of registrable persons once the required particulars have been confirmed. 7. 79(1A)(a)(i) Incorrect reporting by a person that the person is a legal entity or a subsidiary to whom Part 12 does not apply by virtue of section 71(1). 8. 79(1A) Failure of a limited liability company which is exempt under Part 12 to provide \u2014 (a) written confirmation of the exemption to the corporate services provider; or (b) instructions to file the written confirmation with the competent authority under section 79(1A). 9. 81(1) Failure of a limited liability company to give notice requesting confirmation of the change under section 81(1) to a registrable person as soon as reasonably practicable after the limited liability company becomes aware of a relevant change with respect to a registrable person.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_10\", \"num\": \"10.\", \"text\": \"81(2) Failure of a limited liability company which receives confirmation of a relevant change to instruct the corporate services provider or the Registrar to enter the change in the limited liability company\u2019s beneficial ownership register in accordance with section 81(2).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_11\", \"num\": \"11.\", \"text\": \"82(1) Failure of the corporate services provider to give notice of its opinion to Clause 8 Limited Liability Companies (Amendment) (No.2) Bill, 2020 Introduced No. Description of breach the limited liability company if it is of the opinion that the limited liability company has failed to comply with section 79 or 81 without reasonable excuse, or has made a statement that is false, deceptive or misleading in accordance with section 82(1).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_12\", \"num\": \"12.\", \"text\": \"82(2) Failure of the limited liability company to provide the corporate services provider or the Registrar with a response to a notice under section 82(2).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_13\", \"num\": \"13.\", \"text\": \"82(3) Failure of a limited liability company to \u2014 (a) issue a restrictions notice; and (b) send a copy of the notice to the competent authority within two weeks, where the registrable person does not comply with the obligations under section 82(3).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_14\", \"num\": \"14.\", \"text\": \"83(2) Failure of a person to whom the section applies\u2014 (a) to notify the limited liability company of the relevant changes; (b) to state the date the change occurred; and (c) to give the limited liability company the information needed to update the beneficial ownership register under section 83(2) within the timeframe specified at section 83(3).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_15\", \"num\": \"15.\", \"text\": \"87(2) Failure of the corporate services provider to regularly deposit beneficial ownership information in such place, Limited Liability Companies (Amendment) (No.2) Bill, 2020 Clause 9 Introduced No. Description of breach such manner and at such intervals as may be prescribed in accordance with section 87(2)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_16\", \"num\": \"16.\", \"text\": \"90A(2) Failure of a limited liability company or a corporate services provider to comply with a request for additional information under section 90A.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_17\", \"num\": \"17.\", \"text\": \"92(1) Failure to act in a manner consistent with the terms of a restrictions notice under section 92(1). .\u201d. 9. Transition period 9. Sections 2 and 8 shall not apply to any person until thirty days after the commencement of this Law Passed by the Legislative Assembly the day of , 2020. 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The new Part 10A sets out the administrative fine framework.\nThe proposed new section 56A. empowers the Registrar to impose administrative fines on\npersons who breach any provision specified in the Schedule. The proposed new section\n56B further provides that the fine for an initial breach is five thousand dollars. The new\nsection also provides that the Registrar may, in addition to the fine for the initial breach,\nimpose a further fine of one thousand dollars for every month during which the breach\ncontinues until either the breach stops, payment is made for the initial fine and the fines for\nthe continuing breaches or the total of the fines amount to twenty thousand dollars.\nThe proposed new section 56F provides that the Registrar may issue guidance on the\nenforcement of administrative fines. The proposed new section 56H empowers the Cabinet\nto, among other things, provide for the forms and procedures, for imposing fines and for\nappeals against decisions under Part 10A by way of regulations.\nClause 3 provides for an amendment to section 71 of the principal Law by deleting the\nwords \u201cexcluded person\u201d and substituting the words \u201cregistered person\u201d wherever they\nappear. The amendment is consequent upon amendments to the Securities Investment\nBusiness Law (2020 Revision) that removed the category of excluded persons\u201d.\nClauses 4 to 7 provide for amendments to sections 91, 96, 97, 99 and 106 of the principal\nLaw to adjust the specified references to \u201climited liability company\u201d to references to\n\u201ccorporate services provider\u201d. The amendment, in each case, relates to shifting the\nresponsibility for issuing a restrictions notice from the limited liability company to the\ncorporate services provider.\nClause 8 of the Bill provides for the insertion of the Schedule into the principal Law. The\nnew schedule is being inserted pursuant to the amendments to section 56A to provide for\nadministrative fines.\nClause 9 provides for a transition period regarding clauses 2 and 8 of the Bill. The specified\nprovisions shall not apply to any person until thirty days after the commencement of this\namending Law.\n\nLimited Liability Companies (Amendment) (No.2) Bill, 2020\nArrangement of Clauses\n\nc\n Introduced\nPage 5\n\nCAYMAN ISLANDS\n\nLIMITED LIABILITY COMPANIES\n(AMENDMENT) (NO.2) BILL, 2020\n\nArrangement of Clauses\nClause\nPage\n1.\nShort title ...................................................................................................................................7\n2.\nInsertion of Part 10A in the Limited Liability Companies Law (2020 Revision) \u2013\nadministrative fines ....................................................................................................................7\n3.\nAmendment of section 71 - application ......................................................................................9\n4.\nAmendment of section 91 - right to issue restrictions notice .......................................................9\n5.\nAmendment of sections 96, 97 and 106 - relaxation of restrictions; orders for sale; and\nregulations .................................................................................................................................9\n6.\nAmendment of section 99 - limited liability company may withdraw restrictions notice.............. 10\n7.\nAmendment of section 106 - regulations .................................................................................. 10\n8.\nAmendment of the principal Law- insertion of the Schedule ..................................................... 10\n9.\nTransition period ...................................................................................................................... 13\n\nLimited Liability Companies (Amendment) (No.2) Bill, 2020\nClause 1\n\nc\n Introduced\nPage 7\n\nCAYMAN ISLANDS\n\nLIMITED LIABILITY COMPANIES\n(AMENDMENT) (NO.2) BILL, 2020\n\nA BILL FOR A LAW TO AMEND THE LIMITED LIABILITY COMPANIES LAW (2020\nREVISION) TO PROVIDE FOR AN ADMINISTRATIVE PENALTY REGIME; AND FOR\nINCIDENTAL AND CONNECTED PURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Law may be cited as the Limited Liability Companies (Amendment) (No.2)\nLaw, 2020.\n2.\nInsertion of Part 10A in the Limited Liability Companies Law (2020 Revision)\n\u2013 administrative fines\n2.\nThe Limited Liability Companies Law (2020 Revision), in this Law referred to as the\n\u201cprincipal Law\u201d, is amended by inserting after Part 10 the following Part \u2014\n\nClause 2\nLimited Liability Companies (Amendment) (No.2) Bill, 2020\n\nPage 8\n Introduced\nc\n\n\u201cPart 10A \u2013 Administrative fines\n\nRegistrar\u2019s power to fine\n56A.(1)\nThe Registrar has the power to impose an administrative fine on a\nperson who breaches a provision of this Law that is specified in the\nSchedule.\n(2) Cabinet may by order amend the Schedule.\n\nFine amounts\n56B. The fine shall be five thousand dollars for a breach and the Registrar may,\nin addition to the fine for the initial breach, impose a further fine of one\nthousand dollars for every month that the breach continues until one of the\nfollowing occurs \u2014\n(a)\nthe breach stops or is remedied;\n(b) payment of the initial fine and all fines imposed for the\ncontinuing breach; or\n(c)\nthe total of the initial fine and all fines for the continuing breach\namounts to twenty thousand dollars.\n\nThe power to fine\n56C.For the avoidance of doubt \u2014\n(a)\na fine may be imposed for a breach that is not an offence;\n(b) where a breach set out in the Schedule is also an offence, a fine\nfor the breach is not limited by the penalty under the provision\nor by sections 6(2) and 8 of the Criminal Procedure Code (2019\nRevision).\n\nLimitation period\n56D. (1) The Registrar shall not impose a fine after the expiration of six\nmonths after the date on which the Registrar became aware of the\ncommission of  the breach.\n(2) For subsection (1), the Registrar shall be deemed to have become\naware of the breach when information was first received from which\nthe breach can reasonably be inferred.\n\nRelationship with penalties\n56E. If a breach set out in the Schedule is an offence, a fine for the breach shall\nnot preclude a prosecution for the breach or liability for any relevant fees.\n\nLimited Liability Companies (Amendment) (No.2) Bill, 2020\nClause 3\n\nc\n Introduced\nPage 9\n\nRegistrar may issue guidance\n56F. The Registrar may issue guidance on the enforcement of administrative\nfines under this Law.\n\nRegistrar\u2019s rule-making power for Part\n56G. The Registrar may, by rules published in the Gazette, provide for \u2014\n(a)\naggravating and mitigating factors for fines; and\n(b) the publication of fines imposed in accordance with this Part.\n\nRegulation-making powers for this Part\n56H. Regulations made by Cabinet may provide for \u2014\n(a)\nforms and procedures for imposing fines;\n(b) appeals against decisions under this Part;\n(c)\nhow fines shall be paid and may be enforced;\n(d) interest on outstanding fines;\n(e)\nevidentiary provisions for proceedings relating to this Part; and\n(f)\nother matters required or permitted to be prescribed under this\nPart or that are necessary or convenient to give effect to the\npurposes or provisions of this Part.\u201d.\n3.\nAmendment of section 71 - application\n3.\nThe principal Law is amended in sections 71(1)(b) and 71(2)(a) by deleting the words\n\u201c an excluded person\u201d wherever they appear and substituting the words \u201ca registered\nperson\u201d.\n4.\nAmendment of section 91 - right to issue restrictions notice\n4.\nThe principal Law is amended in section 91 as follows \u2014\n(a)\nin subsection (1), by deleting the words \u201cA limited liability company\u201d and\nsubstituting the words \u201c A corporate services provider for a limited liability\ncompany\u201d; and\n(b) in subsection (2), by deleting the words \u201cthe limited liability company\u201d\nand substituting the words \u201cthe corporate services provider\u201d.\n5.\nAmendment of sections 96, 97 and 106 - relaxation of restrictions; orders for\nsale; and regulations\n5.\nThe principal Law is amended in sections 96(1), 97(1) and 97(2) by deleting the\nwords \u201climited liability company\u201d wherever they appear and substituting the words\n\u201ccorporate services provider\u201d.\n\nClause 6\nLimited Liability Companies (Amendment) (No.2) Bill, 2020\n\nPage 10\n Introduced\nc\n\n6.\nAmendment of section 99 - limited liability company may withdraw\nrestrictions notice\n6.\nThe principal Law is amended in section 99 as follows \u2014\n(a)\nin the section heading, by deleting the words \u201climited liability company\u201d\nand substituting the words \u201ccorporate services provider\u201d; and\n(b) by deleting the words \u201climited liability company\u201d wherever they appear\nand substituting the words \u201ccorporate services provider\u201d.\n7.\nAmendment of section 106 - regulations\n7.\nThe principal Law is amended in section 106(1)(g) by deleting the words \u201climited\nliability companies\u201d and substituting the words \u201ccorporate services providers\u201d.\n8.\nAmendment of the principal Law- insertion of the Schedule\n8.\nThe principal Law is amended by inserting after section 107 the following\nSchedule \u2014\n\n\u201cSCHEDULE\n(section 56A)\nAdministrative fines\n\nNo.\nSection\nDescription of breach\n1.\n73(1)\nFailure of a limited liability company to\ntake reasonable steps to identify any\nbeneficial owner of the limited liability\ncompany.\n2.\n74(1)\nFailure of a limited liability company to\ntake reasonable steps to identify any\nrelevant legal entities.\n3.\n75(1)\nFailure of a limited liability company to\ngive notice in writing to beneficial\nowners and relevant legal entities\nidentified under sections 73 and 74.\n4.\n76(2)\nFailure of a beneficial owner or relevant\nlegal entity to supply information under\nsection 76(2) within the timeframe\nspecified at 76(3).\n\nLimited Liability Companies (Amendment) (No.2) Bill, 2020\nClause 8\n\nc\n Introduced\nPage 11\n\nNo.\nSection\nDescription of breach\n5.\n78\nFailure of a limited liability company to\nkeep its beneficial ownership register at\nthe registered office.\n6.\n79(1)\nFailure of a limited liability company to\nprovide in writing to a corporate\nservices provider or to the Registrar the\nrequired particulars of registrable\npersons once the required particulars\nhave been confirmed.\n7.\n79(1A)(a)(i)\nIncorrect reporting by a person that the\nperson is a legal entity or a subsidiary\nto whom Part 12 does not apply by\nvirtue of section 71(1).\n8.\n79(1A)\nFailure of a limited liability company\nwhich is exempt under Part 12 to\nprovide \u2014\n(a) written confirmation of the\nexemption to the corporate services\nprovider; or\n(b) instructions to file the written\nconfirmation with the competent\nauthority under section 79(1A).\n9.\n81(1)\nFailure of a limited liability company to\ngive notice requesting confirmation of\nthe change under section 81(1) to a\nregistrable person as soon as reasonably\npracticable after the limited liability\ncompany becomes aware of a relevant\nchange with respect to a registrable\nperson.\n10.\n81(2)\nFailure of a limited liability company\nwhich receives confirmation of a\nrelevant change to instruct the corporate\nservices provider or the Registrar to\nenter the change in the limited liability\ncompany\u2019s beneficial ownership\nregister in accordance with section\n81(2).\n11.\n82(1)\nFailure of the corporate services\nprovider to give notice of its opinion to\n\nClause 8\nLimited Liability Companies (Amendment) (No.2) Bill, 2020\n\nPage 12\n Introduced\nc\n\nNo.\nSection\nDescription of breach\nthe limited liability company if it is of\nthe opinion that the limited liability\ncompany has failed to comply with\nsection 79 or 81 without reasonable\nexcuse, or has made a statement that is\nfalse, deceptive or misleading in\naccordance with section 82(1).\n12.\n82(2)\nFailure of the limited liability company\nto provide the corporate services\nprovider or the Registrar with a\nresponse to a notice under section\n82(2).\n13.\n82(3)\nFailure of a limited liability company\nto \u2014\n(a) issue a restrictions notice; and\n(b) send a copy of the notice to the\ncompetent authority within\ntwo weeks,\nwhere the registrable person does not\ncomply with the obligations under\nsection 82(3).\n14.\n83(2)\nFailure of a person to whom the section\napplies\u2014\n(a) to notify the limited liability\ncompany\nof\nthe\nrelevant\nchanges;\n(b) to state the date the change\noccurred; and\n(c) to give the limited liability\ncompany\nthe\ninformation\nneeded to update the beneficial\nownership\nregister\nunder\nsection 83(2)\nwithin the timeframe specified at section\n83(3).\n15.\n87(2)\nFailure of the corporate services\nprovider to regularly deposit beneficial\nownership information in such place,\n\nLimited Liability Companies (Amendment) (No.2) Bill, 2020\nClause 9\n\nc\n Introduced\nPage 13\n\nNo.\nSection\nDescription of breach\nsuch manner and at such intervals as\nmay be prescribed in accordance with\nsection 87(2)\n16.\n90A(2)\nFailure of a limited liability company or\na corporate services provider to comply\nwith a request for additional\ninformation under section 90A.\n17.\n92(1)\nFailure to act in a manner consistent\nwith the terms of a restrictions notice\nunder section 92(1).\n.\u201d.\n9.\nTransition period\n9.\nSections 2 and 8 shall not apply to any person until thirty days after the\ncommencement of this Law\nPassed by the Legislative Assembly the\nday of\n, 2020.\nSpeaker\nClerk of the Legislative Assembly","akn_extracted_at":"2026-06-22 15:41:46.594911+00","cms_id":"2020-0020","law_type":"bill","year":"2020","number":"20","title":"Limited Liability Companies (Amendment) (No. 2) Law, 2020 (Law 20 of 2020)","status":"bill"},"provenance":{"files":[{"file_id":"7019","expr_id":"2220","kind":"akn_xml","filename":"2020-0020.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2020\/2020-0020\/2020-0020.akn.xml","content_md5":"a51746970ee2c73c6ef93eeba9dd4fda","byte_size":"17247","http_last_modified":null,"fetched_at":"2026-06-22 15:41:46.717156+00"},{"file_id":"4439","expr_id":"2220","kind":"pristine_pdf","filename":"2020-0020.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2020\/2020-0020\/2020-0020.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/BILLS\/2020\/2020-0020\/2020-0020.pdf","content_md5":"7367858ed596b0a9935a16b25610cefd","byte_size":"802130","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.298325+00"},{"file_id":"4440","expr_id":"2220","kind":"working_pdf","filename":"2020-0020.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2020\/2020-0020\/2020-0020.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2020\/2020-0020\/2020-0020.pdf","content_md5":"7367858ed596b0a9935a16b25610cefd","byte_size":"802130","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.298325+00"}],"paragraph_count":29,"latest_history":null},"quality":{"expr_id":"2220","doc_id":"2220","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; 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