s2Inserts definitions of “Cayman Islands Stock Exchange” and “Cayman Islands exempted limited partnership”.
Section 40
LG10/S1 —
s40Amends section 40(3)(a) by inserting after the words “rights conferred on shareholders” the words “, including the right to appoint or remove directors,”.
Section 244
LG10/S1 —
s244Amends section 244(1) by inserting after the word “current” the words “beneficial ownership”.
Section 245
LG10/S1 —
s245Amends section 245(3)(a) by deleting the words “in excess of 75%” and substituting the words “seventy-five per cent or more”.
Section 247
LG10/S1 —
s247Amends section 247(3) by deleting the words “more than 25%” wherever they appear and substituting the words “twenty-five per cent or more”.
Section 252
LG10/S1 —
s252Amends section 252 by repealing subsections (2) and (3) and substituting new subsections regarding corporate services providers and beneficial ownership registers.
Section 252
LG10/S1 —
s252Amends section 252 by inserting a new subsection (5) defining "ordinary non-resident company" and "ordinary resident company".
Section 262
LG10/S1 —
s262Amends section 262(1) by deleting the words “Subject to subsection (2), the” and substituting the word “The”.
Section 262
LG10/S1 —
s262Amends section 262 by repealing subsection (2).
Section 262
LG10/S1 —
s262Amends section 262 by inserting a new subsection (3A) regarding the competent authority's search of the beneficial ownership register.
Section 277
LG10/S1 —
s277Amends section 277 by deleting the words “section 262(2)” and substituting the words “section 262(3A)”.
Section 279
LG10/S1 —
s279Amends the principal Law by inserting a new section 279A regarding requests for additional information from companies or corporate services providers.