(1) In this Law- Definitions and interpretation “Authority” means the Cayman Islands Monetary Authority established under section 3(1) of the Monetary Authority Law (2004 Revision), and includes a person acting under the Authority’s authorisation; 2004 Revision “bearer share” means a share in the capital of any company incorporated in the Islands which- (a) is represented by a certificate that does not record the owner’s name; and (b) is transferable by delivery of the certificate; “Court” means the Grand Court of the Cayman Islands; “company” except where the context excludes exempted companies, means a company formed and registered under this Law or an existing company; “currency” includes the ECU and any unit of account used at any time by the European Monetary Fund; “custodian” means- (a) “an authorised custodian” who is a person licensed under the Companies Management Law (2003 Revision) to act as a custodian of bearer shares or a bank or trust company licensed under the Banks and Trust Companies Law (2007 Revision); or 2003 Revision 2007 Revision (b) “a recognised custodian” which is an investment exchange or clearing organisation operating a securities clearance or settlement system and carrying on business in a country specified in the Third

s.55List of directors to be sent to Registrar

MODIFIED

Every company shall keep at its registered office a register containing the names and addresses of its directors and officers, and shall send to the Registrar a List of directors to be sent to Registrar 42 Companies Law (2007 Revision) copy of such register, and shall within thirty days notify the Registrar of any change that takes place in such directors or officers.

s.78Unlimited liability of directors and managers

MODIFIED

The liability of the directors, managers or the managing director of a company may, if so provided by the memorandum of association, be unlimited. Unlimited liability of directors and managers 47 Companies Law (2007 Revision)