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Clause 1 provides the short title and commencement of the legislation. Clauses 2 to 4 amend sections 31, 33 and 35 of the Mutual Funds Act (2021 Revision), respectively, by changing references to Part XVIIA of the Companies Act (2021 Revision), Part 12 of the Limited Liability Companies Act (2021 Revision) or Part 8 of the Limited Liability Partnership Act (2021 Revision) to references to the Beneficial Ownership Transparency Act, 2023. Mutual Funds (Amendment) Bill, 2023 Arrangement of Clauses Introduced MUTUAL FUNDS (AMENDMENT) BILL, 2023 Arrangement of Clauses Clause 1.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of section 31 of the Mutual Funds Act (2021 Revision) - powers of Authority\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Amendment of section 33 - powers of Authority, etc., to search in accordance with search\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Mutual Funds (Amendment) Bill, 2023 Clause 1 Introduced MUTUAL FUNDS (AMENDMENT) BILL, 2023 A BILL FOR AN ACT TO AMEND THE MUTUAL FUNDS ACT (2021 REVISION) TO INCLUDE REFERENCES TO THE BENEFICIAL OWNERSHIP 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 and commencement 1. (1) This Act may be cited as the Mutual Funds (Amendment) Act, 2023. (2) This Act comes into force by Order made by the Cabinet. 2. Amendment of section 31 of the Mutual Funds Act (2021 Revision) - powers of Authority in respect of licensed mutual fund administrators 2. The Mutual Funds Act (2021 Revision), in this Act referred to as the \u201cprincipal Act\u201d, is amended in section 31(1) by repealing subparagraph (ab) and substituting the following subparagraph \u2014 \u201c(ab) a licensed mutual fund administrator who is a \u201ccorporate services provider\u201d, as defined in the Beneficial Ownership Transparency Act, 2023, has contravened that Act;\u201d. 3. Amendment of section 33 - powers of Authority, etc., to search in accordance with search warrant 3. The principal Act is amended in section 33(1) as follows \u2014 Clause 4 Mutual Funds (Amendment) Bill, 2023 Introduced (a) in the chapeau, by deleting the words \u201cthis Act, Part XVIIA of the Companies Act (2021 Revision), Part 12 of the Limited Liability Companies Act (2021 Revision) or Part 8 of the Limited Liability Partnership Act (2021 Revision)\u201d and substituting the words \u201cthis Act or the Beneficial Ownership Transparency Act, 2023\u201d; and (b) by repealing subparagraphs (iv) and (v) substituting the following subparagraphs \u2014 \u201c(iv) to take possession of, and secure against interference any record that appears to indicate that any offence under this Act or the Beneficial Ownership Transparency Act, 2023 has been, is being or is about to be committed; and (v) to inspect and take copies of any record on the premises that appears to indicate that an offence under this Act or the Beneficial Ownership Transparency Act, 2023 has been, is being or is about to be committed, or, if this is not practical, to take away or deliver any such records to the Authority.\u201d. 4. Amendment of section 35 - obligation of auditors 4. The principal Act is amended in section 35(2)(e) by repealing subparagraph (ia) and substituting the following subparagraph \u2014 \u201c(ia) in respect of a licensed mutual funds administrator, the Beneficial Ownership Transparency Act, 2023, if the licensee is a \u201ccorporate services provider\u201d as defined in that Act;\u201d. Passed by the Parliament the        day of                          , 2023. 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AND FOR\nINCIDENTAL AND CONNECTED PURPOSES\n\n\u2000\n\nPage 2\nIntroduced\nc\n\nPUBLISHING DETAILS\nSponsoring Ministry\/Portfolio: Ministry of Financial Services and Commerce (FSC)\n\nMutual Funds (Amendment) Bill, 2023\nObjects and Reasons\n\nc\nIntroduced\nPage 3\n\nMemorandum of\nOBJECTS AND REASONS\nThis Bill amends the Mutual Funds Act (2021 Revision) to include references to the\nbeneficial ownership regime.\nClause 1 provides the short title and commencement of the legislation.\nClauses 2 to 4 amend sections 31, 33 and 35 of the Mutual Funds Act (2021 Revision),\nrespectively, by changing references to Part XVIIA of the Companies Act (2021\nRevision), Part 12 of the Limited Liability Companies Act (2021 Revision) or Part 8 of\nthe Limited Liability Partnership Act (2021 Revision) to references to the Beneficial\nOwnership Transparency Act, 2023.\n\nMutual Funds (Amendment) Bill, 2023\nArrangement of Clauses\n\nc\nIntroduced\nPage 5\n\nCAYMAN ISLANDS\n\nMUTUAL FUNDS (AMENDMENT) BILL, 2023\nArrangement of Clauses\nClause\nPage\n1.\nShort title and commencement ..................................................................................................7\n2.\nAmendment of section 31 of the Mutual Funds Act (2021 Revision) - powers of Authority\nin respect of licensed mutual fund administrators .......................................................................7\n3.\nAmendment of section 33 - powers of Authority, etc., to search in accordance with search\nwarrant ......................................................................................................................................7\n4.\nAmendment of section 35 - obligation of auditors .......................................................................8\n\nMutual Funds (Amendment) Bill, 2023\nClause 1\n\nc\nIntroduced\nPage 7\n\nCAYMAN ISLANDS\n\nMUTUAL FUNDS (AMENDMENT) BILL, 2023\nA BILL FOR AN ACT TO AMEND THE MUTUAL FUNDS ACT (2021 REVISION) TO\nINCLUDE REFERENCES TO THE BENEFICIAL OWNERSHIP REGIME; AND FOR\nINCIDENTAL AND CONNECTED PURPOSES\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title and commencement\n1.\n(1) This Act may be cited as the Mutual Funds (Amendment) Act, 2023.\n(2) This Act comes into force by Order made by the Cabinet.\n2.\nAmendment of section 31 of the Mutual Funds Act (2021 Revision) - powers\nof Authority in respect of licensed mutual fund administrators\n2.\nThe Mutual Funds Act (2021 Revision), in this Act referred to as the \u201cprincipal\nAct\u201d, is amended in section 31(1) by repealing subparagraph (ab) and substituting\nthe following subparagraph \u2014\n\u201c(ab) a licensed mutual fund administrator who is a \u201ccorporate\nservices provider\u201d, as defined in the Beneficial\nOwnership Transparency Act, 2023, has contravened that\nAct;\u201d.\n3.\nAmendment of section 33 - powers of Authority, etc., to search in\naccordance with search warrant\n3.\nThe principal Act is amended in section 33(1) as follows \u2014\n\nClause 4\nMutual Funds (Amendment) Bill, 2023\n\nPage 8\nIntroduced\nc\n\n(a)\nin the chapeau, by deleting the words \u201cthis Act, Part XVIIA of the\nCompanies Act (2021 Revision), Part 12 of the Limited Liability\nCompanies Act (2021 Revision) or Part 8 of the Limited Liability\nPartnership Act (2021 Revision)\u201d and substituting the words \u201cthis Act or\nthe Beneficial Ownership Transparency Act, 2023\u201d; and\n(b) by repealing subparagraphs (iv) and (v) substituting the following\nsubparagraphs \u2014\n\u201c(iv) to take possession of, and secure against interference any\nrecord that appears to indicate that any offence under this\nAct or the Beneficial Ownership Transparency Act, 2023\nhas been, is being or is about to be committed; and\n(v) to inspect and take copies of any record on the premises\nthat appears to indicate that an offence under this Act or\nthe Beneficial Ownership Transparency Act, 2023 has\nbeen, is being or is about to be committed, or, if this is\nnot practical, to take away or deliver any such records to\nthe Authority.\u201d.\n4.\nAmendment of section 35 - obligation of auditors\n4.\nThe principal Act is amended in section 35(2)(e) by repealing subparagraph (ia) and\nsubstituting the following subparagraph \u2014\n\u201c(ia) in respect of a licensed mutual funds administrator, the\nBeneficial Ownership Transparency Act, 2023, if the\nlicensee is a \u201ccorporate services provider\u201d as defined in\nthat Act;\u201d.\n\nPassed by the Parliament the        day of                          , 2023.\n\nSpeaker\n\nClerk of the Parliament","akn_extracted_at":"2026-06-22 15:42:15.281404+00","cms_id":"2023-0022","law_type":"bill","year":"2023","number":"22","title":"Virtual Asset (Service Providers) (Amendment) (No. 2) Act, 2023 (Act 22 of 2023)","status":"bill"},"provenance":{"files":[{"file_id":"7114","expr_id":"2315","kind":"akn_xml","filename":"2023-0022.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2023\/2023-0022\/2023-0022.akn.xml","content_md5":"67c03d1b3c57301b9d50dcc6b8d423d8","byte_size":"7022","http_last_modified":null,"fetched_at":"2026-06-22 15:42:15.324595+00"},{"file_id":"4629","expr_id":"2315","kind":"pristine_pdf","filename":"2023-0022.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2023\/2023-0022\/2023-0022.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/BILLS\/2023\/2023-0022\/2023-0022.pdf","content_md5":"3de7402f78171c55db81e5b4b1066de6","byte_size":"662280","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.358713+00"},{"file_id":"4630","expr_id":"2315","kind":"working_pdf","filename":"2023-0022.pdf","source_url":"\/cms\/images\/LEGISLATION\/BILLS\/2023\/2023-0022\/2023-0022.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/BILLS\/2023\/2023-0022\/2023-0022.pdf","content_md5":"3de7402f78171c55db81e5b4b1066de6","byte_size":"662280","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.358713+00"}],"paragraph_count":13,"latest_history":null},"quality":{"expr_id":"2315","doc_id":"2315","quality_state":"known_issue","quality_score":"55","needs_human_review":"t","deterministic_categories":"{commencement_metadata_problem,duplicate_text,page_header_footer_noise,title_mismatch}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture,verify_commencement_metadata,verify_title_metadata}","finding_severity_counts":"{\"low\": 2, \"high\": 1, \"medium\": 1}","finding_summary":"stored title is not visible in the opening extracted text; 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