{"kind":"expression","expression":{"expr_id":"2222","doc_id":"2222","label":"Trusts (Amendment) Bill, 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\/22\/eng@2020-01-01","akn_envelope":"{\"_canary\": {\"iri\": {\"work\": \"\/akn\/ky\/bill\/2020\/22\", \"expression\": \"\/akn\/ky\/bill\/2020\/22\/eng@2020-01-01\", \"manifestation\": \"\/akn\/ky\/bill\/2020\/22\/eng@2020-01-01.pdf\"}, \"pdf\": {\"md5\": \"b9d95d3d122599fd1967ab02ce2d7886\", \"path\": \"\/Users\/q\/kyleg-data\/working\/BILLS\/2020\/2020-0022\/2020-0022.pdf\", \"pages\": 9, \"filename\": \"2020-0022.pdf\"}, \"errors\": [], \"extraction\": {\"model\": null, \"stats\": {\"word_count\": 1189, \"paragraph_count\": 6, \"text_char_count\": 7461}, \"usage\": null, \"method\": \"pymupdf-text\", \"version\": \"kyleg-akn-1.0\", \"extracted_at\": \"2026-07-18\"}, \"classification\": \"text_layer\", \"validation_flags\": [], \"docai_processor_id\": null}, \"akomaNtoso\": {\"act\": null, \"doc\": null, \"bill\": {\"body\": [{\"eId\": \"sec_n1\", \"num\": null, \"text\": \"A BILL FOR A LAW TO AMEND THE TRUSTS LAW (2020 REVISION) TO REQUIRE A PERSON TO HAVE A LICENCE TO CARRY ON TRUST BUSINESS; TO CLARIFY THE TYPES OF ENTITIES THAT MAY REQUEST INFORMATION FROM THE REGISTRAR OF TRUSTS AND TRUSTEES FOR ANTI-MONEY LAUNDERING AND COUNTER FINANCING OF TERRORISM PURPOSES; TO CLARIFY THE DEFINITION OF RELEVANT FINANCIAL BUSINESS; AND FOR INCIDENTAL AND CONNECTED PURPOSES Introduced PUBLISHING DETAILS Sponsoring Ministry\/Portfolio: Ministry of Financial Services and Home Affairs (FSHA) Objects and Reasons Introduced Memorandum of OBJECTS AND REASONS This Bill seeks to amend the Trusts Law (2020 Revision) (\u201cthe principal Law\u201d) to require a person to have a licence to carry on trust business; to clarify the types of entities that may request information from the Registrar of Trusts and trustees; and to clarify the definition of \u201crelevant financial business\u201d. The Bill would also provide for incidental and connected purposes. Clause 1 provides the short title of the legislation. Clause 2 seeks to amend section 6A of the principal Law to clarify that relevant financial business is defined under section 2(1) of the Proceeds of Crime Law (2020 Revision). Clause 3 inserts a new section 6B in the principal Law which seeks to prohibit a person from carrying on, or arranging for another person to carry on, trust business without having a valid licence granted by the Authority under the Banks and Trust Companies Law (2020 Revision) authorising the person to carry on such business or is exempt under regulations made under section 5(2B) of that Law from holding such licence. The provision also clarifies that an individual shall not carry on, purport to carry on, or arrange for another person to carry on, trust business in or from within the Islands. Clause 4 seeks to amend section 74A of the principal Law to insert a new paragraph under subsection (2) which would empower the Customs and Border Control Service to request information on trusts from the Registrar of Trusts. Clause 4 also seeks to amend section 74A of the principal Law to repeal and substitute paragraph (f) of subsection (2) to clarify that information on trusts may only be requested from the Registrar of Trusts by a competent authority as defined under section 2(1) of the Proceeds of Crime Law (2020 Revision). Clause 5 seeks to repeal and substitute section 74B of the principal Law to expand the category of entities authorised to request information from trustees or persons having ultimate effective control over a trust who are required to provide information on the trust or its activities to such authorised entities. Arrangement of Clauses Introduced Arrangement of Clauses Clause 1. 2. 3. 4.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Repeal and substitution of section 74B - power of competent authorities to request Clause 1 Introduced A BILL FOR A LAW TO AMEND THE TRUSTS LAW (2020 REVISION) TO REQUIRE A PERSON TO HAVE A LICENCE TO CARRY ON TRUST BUSINESS; TO CLARIFY THE TYPES OF ENTITIES THAT MAY REQUEST INFORMATION FROM THE REGISTRAR OF TRUSTS AND TRUSTEES FOR ANTI-MONEY LAUNDERING AND COUNTER FINANCING OF TERRORISM PURPOSES; TO CLARIFY THE DEFINITION OF RELEVANT FINANCIAL BUSINESS; 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 Trusts (Amendment) Law, 2020.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of section 6A of the Trusts Law (2020 Revision) - obligations of trustees 2. The Trusts Law (2020 Revision), in this Law referred to as the \u201cprincipal Law\u201d, is amended in section 6A(3) by deleting the words \u201cunder Schedule 6\u201d wherever they appear and substituting the words \u201cas defined by section 2(1)\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Insertion of section 6B - licence required to carry on trust business 3. The principal Law is amended by inserting after section 6A the following section \u2014 Clause 4 Introduced \u201cLicence required to carry on trust business 6B. (1) A person shall not \u2014 (a) carry on, or purport to carry on; or (b) arrange for another person to carry on; trust business, as defined by section 2 of the Banks and Trust Companies Law (2020 Revision), from within the Islands, whether or not such business is carried on in the Islands, unless that person holds a valid licence granted by the Authority under the Banks and Trust Companies Law (2020 Revision) authorising the person to carry on trust business or is exempt under regulations made under section 5(2B) of that Law from holding such licence. (2) Notwithstanding any provision of this Law or any other Law, an individual shall not \u2014 (a)  carry on trust business; or (b) arrange for another person to carry on trust business, in or from within the Islands, under this Law.\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Amendment of section 74A - Registrar of Trusts to share information 4. The principal Law is amended in section 74A(2) as follows \u2014 (a) by inserting after paragraph (b) the following paragraph \u2014 \u201c(ba) the Customs and Border Control Service as established under section 3 of the Customs and Border Control Law, 2018;\u201d; and (b) by repealing paragraph (f) and substituting the following paragraph \u2014 \u201c(f) a competent authority as defined under section 2(1) of the Proceeds of Crime Law (2020 Revision).\u201d. 5. Repeal and substitution of section 74B - power of competent authorities to request information 5. The principal Law is amended by repealing section 74B and substituting the following section \u2014 \u201cPower of authorised entity to request information 74B (1) Where an entity authorised to request information under section 74A has reasonable grounds to believe that a person who is \u2014 (a) a trustee; or (b) any other person exercising ultimate effective control of a trust established under this Law, is acting, or carrying on a business, in contravention of any of the Laws referred to in section 74A(1), the entity may direct Clause 5 Introduced that person to provide such information in relation to the trust or its activities as may be required by the entity. (2) A person who knowingly fails to comply with subsection (1) commits an offence and is liable on summary conviction to a fine of fifty thousand dollars and if the offence is a continuing one, to a fine of ten thousand dollars for each day or part of a day during which the offence continues, up to a maximum of fifty thousand dollars.\u201d. Passed by the Legislative Assembly the day of 2020. 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The Bill would also provide for incidental and connected\npurposes.\nClause 1 provides the short title of the legislation.\nClause 2 seeks to amend section 6A of the principal Law to clarify that relevant financial\nbusiness is defined under section 2(1) of the Proceeds of Crime Law (2020 Revision).\nClause 3 inserts a new section 6B in the principal Law which seeks to prohibit a person\nfrom carrying on, or arranging for another person to carry on, trust business without having\na valid licence granted by the Authority under the Banks and Trust Companies Law (2020\nRevision) authorising the person to carry on such business or is exempt under regulations\nmade under section 5(2B) of that Law from holding such licence. The provision also\nclarifies that an individual shall not carry on, purport to carry on, or arrange for another\nperson to carry on, trust business in or from within the Islands.\nClause 4 seeks to amend section 74A of the principal Law to insert a new paragraph under\nsubsection (2) which would empower the Customs and Border Control Service to request\ninformation on trusts from the Registrar of Trusts.\nClause 4 also seeks to amend section 74A of the principal Law to repeal and substitute\nparagraph (f) of subsection (2) to clarify that information on trusts may only be requested\nfrom the Registrar of Trusts by a competent authority as defined under section 2(1) of the\nProceeds of Crime Law (2020 Revision).\nClause 5 seeks to repeal and substitute section 74B of the principal Law to expand the\ncategory of entities authorised to request information from trustees or persons having\nultimate effective control over a trust who are required to provide information on the trust\nor its activities to such authorised entities.\n\nTrusts (Amendment) Bill, 2020\nArrangement of Clauses\n\nc\n Introduced\nPage 5\n\nCAYMAN ISLANDS\n\nTRUSTS (AMENDMENT) BILL, 2020\n\nArrangement of Clauses\nClause\nPage\n1.\nShort title ...................................................................................................................................... 7\n2.\nAmendment of section 6A of the Trusts Law (2020 Revision) - obligations of trustees ............... 7\n3.\nInsertion of section 6B - licence required to carry on trust business ............................................ 7\n4.\nAmendment of section 74A - Registrar of Trusts to share information ......................................... 8\n5.\nRepeal and substitution of section 74B - power of competent authorities to request\ninformation .................................................................................................................................... 8\n\nTrusts (Amendment) Bill, 2020\nClause 1\n\nc\n Introduced\nPage 7\n\nCAYMAN ISLANDS\n\nTRUSTS (AMENDMENT) BILL, 2020\n\nA BILL FOR A LAW TO AMEND THE TRUSTS LAW (2020 REVISION) TO REQUIRE A\nPERSON TO HAVE A LICENCE TO CARRY ON TRUST BUSINESS; TO CLARIFY THE\nTYPES OF ENTITIES THAT MAY REQUEST INFORMATION FROM THE REGISTRAR\nOF TRUSTS AND TRUSTEES FOR ANTI-MONEY LAUNDERING AND COUNTER\nFINANCING OF TERRORISM PURPOSES; TO CLARIFY THE DEFINITION OF\nRELEVANT FINANCIAL BUSINESS; AND FOR INCIDENTAL AND CONNECTED\nPURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Law may be cited as the Trusts (Amendment) Law, 2020.\n2.\nAmendment of section 6A of the Trusts Law (2020 Revision) - obligations of\ntrustees\n2.\nThe Trusts Law (2020 Revision), in this Law referred to as the \u201cprincipal Law\u201d, is\namended in section 6A(3) by deleting the words \u201cunder Schedule 6\u201d wherever they\nappear and substituting the words \u201cas defined by section 2(1)\u201d.\n3.\nInsertion of section 6B - licence required to carry on trust business\n3.\nThe principal Law is amended by inserting after section 6A the following section \u2014\n\nClause 4\nTrusts (Amendment) Bill, 2020\n\nPage 8\n Introduced\nc\n\n\u201cLicence required to carry on trust business\n 6B. (1) A person shall not \u2014\n(a) carry on, or purport to carry on; or\n(b) arrange for another person to carry on;\ntrust business, as defined by section 2 of the Banks and Trust\nCompanies Law (2020 Revision), from within the Islands, whether or\nnot such business is carried on in the Islands, unless that person holds\na valid licence granted by the Authority under the Banks and Trust\nCompanies Law (2020 Revision) authorising the person to carry on\ntrust business or is exempt under regulations made under section\n5(2B) of that Law from holding such licence.\n(2) Notwithstanding any provision of this Law or any other Law, an\nindividual shall not \u2014\n(a)  carry on trust business; or\n(b) arrange for another person to carry on trust business,\nin or from within the Islands, under this Law.\u201d.\n4.\nAmendment of section 74A - Registrar of Trusts to share information\n4.\nThe principal Law is amended in section 74A(2) as follows \u2014\n(a) by inserting after paragraph (b) the following paragraph \u2014\n\u201c(ba) the Customs and Border Control Service as established under\nsection 3 of the Customs and Border Control Law, 2018;\u201d; and\n(b) by repealing paragraph (f) and substituting the following paragraph \u2014\n\u201c(f) a competent authority as defined under section 2(1) of the\nProceeds of Crime Law (2020 Revision).\u201d.\n5.\nRepeal and substitution of section 74B - power of competent authorities to\nrequest information\n5.\nThe principal Law is amended by repealing section 74B and substituting the\nfollowing section \u2014\n\u201cPower of authorised entity to request information\n74B (1)\nWhere an entity authorised to request information under section\n74A has reasonable grounds to believe that a person who is \u2014\n(a) a trustee; or\n(b) any other person exercising ultimate effective control of a\ntrust established under this Law,\nis acting, or carrying on a business, in contravention of any of\nthe Laws referred to in section 74A(1), the entity may direct\n\nTrusts (Amendment) Bill, 2020\nClause 5\n\nc\n Introduced\nPage 9\n\nthat person to provide such information in relation to the trust\nor its activities as may be required by the entity.\n(2) A person who knowingly fails to comply with subsection (1)\ncommits an offence and is liable on summary conviction to a\nfine of fifty thousand dollars and if the offence is a continuing\none, to a fine of ten thousand dollars for each day or part of a\nday during which the offence continues, up to a maximum of\nfifty thousand dollars.\u201d.\n\nPassed by the Legislative Assembly the\nday of\n\n2020.\n\nSpeaker\n\nClerk of the Legislative Assembly","akn_extracted_at":"2026-07-18 12:35:37.122989+00","is_tombstone":"f","tombstone_provenance":"{}","future_commencement_provenance":"{}","cms_id":"2020-0022","law_type":"bill","year":"2020","number":"22","title":"Trusts (Amendment) Bill, 2020","status":"bill"},"provenance":{"files":[{"file_id":"7021","expr_id":"2222","kind":"akn_xml","filename":"2020-0022.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2020\/2020-0022\/2020-0022.akn.xml","content_md5":"14f621a19c016732466383200fc829cf","byte_size":"9568","http_last_modified":null,"fetched_at":"2026-07-18 12:35:37.170219+00"},{"file_id":"27943","expr_id":"2222","kind":"pristine_pdf","filename":"2020-0022.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2020\/2020-0022\/2020-0022.pdf","storage_path":"\/home\/q\/Dropbox\/coding\/kyleg-data\/pristine\/BILLS\/2020\/2020-0022\/2020-0022.pdf","content_md5":"b9d95d3d122599fd1967ab02ce2d7886","byte_size":"668110","http_last_modified":null,"fetched_at":"2026-09-13 08:06:52.763408+00"},{"file_id":"4443","expr_id":"2222","kind":"pristine_pdf","filename":"2020-0022.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2020\/2020-0022\/2020-0022.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/BILLS\/2020\/2020-0022\/2020-0022.pdf","content_md5":"b9d95d3d122599fd1967ab02ce2d7886","byte_size":"668110","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.299363+00"},{"file_id":"27944","expr_id":"2222","kind":"working_pdf","filename":"2020-0022.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2020\/2020-0022\/2020-0022.pdf","storage_path":"\/home\/q\/Dropbox\/coding\/kyleg-data\/working\/BILLS\/2020\/2020-0022\/2020-0022.pdf","content_md5":"b9d95d3d122599fd1967ab02ce2d7886","byte_size":"668110","http_last_modified":null,"fetched_at":"2026-09-13 08:06:52.763408+00"},{"file_id":"4444","expr_id":"2222","kind":"working_pdf","filename":"2020-0022.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2020\/2020-0022\/2020-0022.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2020\/2020-0022\/2020-0022.pdf","content_md5":"b9d95d3d122599fd1967ab02ce2d7886","byte_size":"668110","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.299363+00"}],"paragraph_count":15,"latest_history":{"history_id":"270199","change_type":"UPDATE","changed_at":"2026-07-18 00:00:00+00","change_source":"MIGRATION_027","change_reason":"CMS-id-collision audit 2026-07-18: title corrected from the document's own PDF and\/or the (law_type, cms_id)-keyed official legislation.gov.ky listing."}},"quality":{"expr_id":"2222","doc_id":"2222","quality_state":"known_issue","quality_score":"51","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":"{\"high\": 1, \"medium\": 2}","finding_summary":"stored title is not visible in the opening extracted text; 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