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Clause 1 provides the short title of the legislation. Clause 2 amends section 2 of the principal Act to change the section heading. Clause 3 amends section 37 of the principal Act by repealing and substituting the section heading. The clause also inserts proposed new subsections (3) and (4) to provide for the liability of \u2014 (a) a partner concerned in the management or control of a partnership or a limited liability partnership, or a partner who takes part in the conduct of the business of an exempted limited partnership where an offence under the principal Act is committed by the partnership, the limited liability partnership or the exempted limited partnership; and (b) a person concerned in the management or control of an unincorporated association other than a partnership, a limited liability partnership or an exempted limited partnership where an offence under the principal Act is committed by the unincorporated association. Securities Investment Business (Amendment) Bill, 2023 Clause 1 Introduced SECURITIES INVESTMENT BUSINESS (AMENDMENT) BILL, 2023 A BILL FOR AN ACT TO AMEND THE SECURITIES INVESTMENT BUSINESS ACT (2020 REVISION) TO PROVIDE FOR THE LIABILITY OF PARTNERSHIPS, EXEMPTED LIMITED PARTNERSHIPS, LIMITED LIABILITY PARTNERSHIPS, PARTNERS, UNINCORPORATED ASSOCIATIONS AND PERSONS CONCERNED IN THE MANAGEMENT OR CONTROL OF UNINCORPORATED ASSOCIATIONS FOR OFFENCES; 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 Act may be cited as the Securities Investment Business (Amendment) Act, 2023.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of section 2 of the Securities Investment Business Act (2020 Revision) - definitions 2. The Securities Investment Business Act (2020 Revision) is amended in section 2 by repealing the section heading and substituting the following section heading \u2014 Clause 3 Securities Investment Business (Amendment) Bill, 2023 Introduced \u201cInterpretation\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Amendment of section 37 of the Securities Investment Business Act (2020 Revision) - offences by corporations 3. The Securities Investment Business Act (2020 Revision) is amended in section 37 as follows \u2014 (a) by repealing the section heading and substituting the following section heading \u2014 \u201cOffences by corporations, partnerships, limited liability partnerships etc.\u201d; and Securities Investment Business (Amendment) Bill, 2023 Clause 3 Introduced (b) by inserting after subsection (2) the following subsections \u2014 \u201c(3) Where an offence under this Act is committed by a partnership, a limited liability partnership or an exempted limited partnership and it is proved that the offence \u2014 (a) was committed with the consent or connivance of; or (b) is attributable to any neglect on the part of, a partner concerned in the management or control of a partnership or a limited liability partnership, or a partner who takes part in the conduct of the business of an exempted limited partnership, that partner as well as the partnership, the limited liability partnership or the exempted limited partnership, as applicable, commits the offence and is liable to be proceeded against and punished accordingly. (4) Where an offence under this Act is committed by an unincorporated association other than a partnership, a limited liability partnership or an exempted limited partnership and it is proved that the offence \u2014 (a) was committed with the consent or connivance of; or (b) is attributable to neglect on the part of, a person concerned in the management or control of the unincorporated association, that person, as well as the unincorporated association, commits the offence and is liable to be proceeded against and punished accordingly.\u201d. Passed by the Parliament the day of , 2023. 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The clause also inserts proposed new subsections (3) and (4) to provide for the\nliability of \u2014\n(a) a partner concerned in the management or control of a partnership or a limited liability\npartnership, or a partner who takes part in the conduct of the business of an exempted\nlimited partnership where an offence under the principal Act is committed by the\npartnership, the limited liability partnership or the exempted limited partnership; and\n(b) a person concerned in the management or control of an unincorporated association\nother than a partnership, a limited liability partnership or an exempted limited\npartnership where an offence under the principal Act is committed by the\nunincorporated association.\n\nSecurities Investment Business (Amendment) Bill, 2023\nClause 1\n\nc\n Introduced\nPage 5\n\nCAYMAN ISLANDS\n\nSECURITIES INVESTMENT BUSINESS\n(AMENDMENT) BILL, 2023\n\nA BILL FOR AN ACT TO AMEND THE SECURITIES INVESTMENT BUSINESS ACT\n(2020 REVISION) TO PROVIDE FOR THE LIABILITY OF PARTNERSHIPS, EXEMPTED\nLIMITED PARTNERSHIPS, LIMITED LIABILITY PARTNERSHIPS, PARTNERS,\nUNINCORPORATED ASSOCIATIONS AND PERSONS CONCERNED IN THE\nMANAGEMENT OR CONTROL OF UNINCORPORATED ASSOCIATIONS FOR\nOFFENCES; AND FOR INCIDENTAL AND CONNECTED PURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Act may be cited as the Securities Investment Business (Amendment) Act, 2023.\n2.\nAmendment of section 2 of the Securities Investment Business Act (2020\nRevision) - definitions\n2.\nThe Securities Investment Business Act (2020 Revision) is amended in section 2 by\nrepealing the section heading and substituting the following section heading \u2014\n\nClause 3\nSecurities Investment Business (Amendment) Bill, 2023\n\nPage 6\n Introduced\nc\n\n\u201cInterpretation\u201d.\n3.\nAmendment of section 37 of the Securities Investment Business Act (2020\nRevision) - offences by corporations\n3.\nThe Securities Investment Business Act (2020 Revision) is amended in section 37 as\nfollows \u2014\n(a)\nby repealing the section heading and substituting the following section\nheading \u2014\n\u201cOffences by corporations, partnerships, limited liability\npartnerships etc.\u201d; and\n\nSecurities Investment Business (Amendment) Bill, 2023\nClause 3\n\nc\n Introduced\nPage 7\n\n(b) by inserting after subsection (2) the following subsections \u2014\n\u201c(3) Where an offence under this Act is committed by a partnership, a\nlimited liability partnership or an exempted limited partnership and\nit is proved that the offence \u2014\n(a)\nwas committed with the consent or connivance of; or\n(b) is attributable to any neglect on the part of,\na partner concerned in the management or control of a partnership or\na limited liability partnership, or a partner who takes part in the\nconduct of the business of an exempted limited partnership, that\npartner as well as the partnership, the limited liability partnership or\nthe exempted limited partnership, as applicable, commits the offence\nand is liable to be proceeded against and punished accordingly.\n(4) Where an offence under this Act is committed by an unincorporated\nassociation other than a partnership, a limited liability partnership or\nan exempted limited partnership and it is proved that the offence \u2014\n(a)\nwas committed with the consent or connivance of; or\n(b) is attributable to neglect on the part of,\na person concerned in the management or control of the\nunincorporated association, that person, as well as the unincorporated\nassociation, commits the offence and is liable to be proceeded against\nand punished accordingly.\u201d.\nPassed by the Parliament the\nday of\n, 2023.\nSpeaker\nClerk of the Parliament","akn_extracted_at":"2026-06-22 15:42:15.382825+00","cms_id":"2023-0007","law_type":"bill","year":"2023","number":"7","title":"Virtual Asset (Service Providers) (Amendment) Act, 2023 (Act 7 of 2023)","status":"bill"},"provenance":{"files":[{"file_id":"7100","expr_id":"2301","kind":"akn_xml","filename":"2023-0007.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2023\/2023-0007\/2023-0007.akn.xml","content_md5":"f7ecfcec9b35a855bf46f0abb0e5ffa9","byte_size":"7768","http_last_modified":null,"fetched_at":"2026-06-22 15:42:15.422257+00"},{"file_id":"4601","expr_id":"2301","kind":"pristine_pdf","filename":"2023-0007.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2023\/2023-0007\/2023-0007.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/BILLS\/2023\/2023-0007\/2023-0007.pdf","content_md5":"112d9e8636025acb3f517b2e5e431f15","byte_size":"337493","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.349887+00"},{"file_id":"4602","expr_id":"2301","kind":"working_pdf","filename":"2023-0007.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2023\/2023-0007\/2023-0007.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2023\/2023-0007\/2023-0007.pdf","content_md5":"112d9e8636025acb3f517b2e5e431f15","byte_size":"337493","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.349887+00"}],"paragraph_count":12,"latest_history":null},"quality":{"expr_id":"2301","doc_id":"2301","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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