s.2Definitions
2
Section 2Part 1 — Preliminary

Definitions

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means a power given by an Appropriation Act to the Cabinet to incur executive expenses, make an equity investment, acquire or create executive assets, or lend or borrow money for a particular purpose;
and "Appropriation Bill" respectively mean an Act or Bill which provides or would provide for appropriation in respect of the plan and estimates for a financial year and a budget period;
means the department, including all of its staff and physical resources, of which the chief officer is the Auditor General;
except in section 14(3)(c), means any borrowing of money or other receipt of credit, whether secured or unsecured, and includes any hire purchase agreement or finance lease, but does not include the purchase of goods or services on credit for a period of ninety days or less;
means a period of appropriation covering two financial years, commencing on 1st January, 2018;
means the withdrawal of equity investment from an entity;
means the accounting information system established, operated and managed by the chief officer of finance;
means the system of bank accounts consisting of the executive bank account and the bank accounts of ministries and portfolios, the Office of the Ombudsman and the Audit Office established, operated and managed by the chief officer of finance;
means —
in the case of the ministry (whatever called) responsible for finance, the chief officer of finance;
in the case of another ministry or a portfolio, the public officer in that ministry or portfolio designated by the Governor;
in the case of a statutory authority or government company, the person appointed as the chief officer (whatever called) by its board;
in the case of the Audit Office, the Auditor General;
in the case of the judicial administration, the court administrator or such other suitable person as may be designated by the Chief Justice;
in the case of the Office of the Ombudsman, the Ombudsman.
means the officer mentioned in section 53B(2) of this Act;
means revenue earned by the core government using the coercive power of the state and for which no direct exchange of service occurs;
means the Constitution set out in Schedule 2 to the Cayman Islands Constitution Order 2009 [UKSI 2009 No. 1379];
means the Cayman Islands Parliament, the Cabinet, ministries, portfolios, the Office of the Ombudsman and the Audit Office and includes the equity investment in statutory authorities and government companies;
means —
the core government (other than the equity investment in statutory authorities and government companies); and
all statutory authorities and government companies;
means any body and includes a ministry, portfolio, statutory authority, government company, the Office of the Ombudsman and the Audit Office;
in relation to a ministry, portfolio, statutory authority, government company, the Office of the Ombudsman or the Audit Office, means all assets controlled by that entity for the purpose of producing its outputs, but does not include any assets of the core government declared by the Financial Secretary not to be assets of that entity or allocated or transferred by that Financial Secretary to another entity by regulations made under section 35 of this Act;
in relation to a ministry, portfolio, statutory authority, government company, the Office of the Ombudsman or the Audit Office, means expenses incurred by the entity in producing its outputs or in carrying out any other of its activities, but does not include any expenses of the core government declared by the Financial Secretary not to be expenses of that entity or allocated or transferred by that Financial Secretary to another entity by regulations made under section 35;
in relation to a ministry, portfolio, statutory authority, government company, the Office of the Ombudsman or the Audit Office, means all liabilities incurred by the entity in respect of its own activities, but does not include any liabilities of the core government declared by the Financial Secretary not to be liabilities of that entity or allocated or transferred by that Financial Secretary to another entity by regulations made under section 35;
means any financial transaction relating to entity revenue, entity expenses, entity assets or entity liabilities;
in relation to a ministry, portfolio, statutory authority, government company, the Office of the Ombudsman or the Audit Office, means revenue earned by the entity from the production of outputs (including those purchased by the Cabinet) or any other of its own activities, but does not include any revenue of the core government declared by the Financial Secretary not to be revenue of that entity or allocated or transferred by that Financial Secretary to another entity by regulations made under section 35;
means an amount invested in a ministry, portfolio, statutory authority, government company, the Office of the Ombudsman or the Audit Office by the Cabinet;
means an event which occurs during a financial year and which —
is beyond the control of the Cabinet;
could not have been reasonably anticipated at the time of enactment of the Appropriation Act for that financial year;
has an economic or social impact that is significant enough to necessitate executive financial transactions different from those planned for that financial year; and
requires the executive financial transactions to be entered into in a timescale that makes compliance with the procedure established by section 12 impractical;
means all assets of the core government other than entity assets, and includes the equity investments of the Government in ministries, portfolios, statutory authorities, government companies, the Office of the Ombudsman and the Audit Office, but does not include assets held by the Government as trustee for another person;
means all expenses incurred by the core government other than entity expenses, and includes expenses incurred by the Cabinet in purchasing outputs from ministries, portfolios, the Office of the Ombudsman, the Audit Office and other suppliers, but does not include expenses incurred by the Government as trustee for another person;
means any financial transaction relating to executive revenue, executive expenses, executive assets or executive liabilities;
means all liabilities of the core government other than entity liabilities but does not include liabilities of the Government as trustee for another person;
means all revenue earned by the core government other than entity revenue, but does not include revenue earned by the Government as trustee for another person;
means the Financial Secretary required under section 115 of the Constitution set out in Schedule 2 to the Cayman Islands Constitution Order, 2009 [UKSI 2009/1379];
—
in relation to an entity required to report under this Act, means a year ending on 31st December; and
in relation to any statutory authority or government company, means such date as the Cabinet may determine;
means the Framework for Fiscal Responsibility providing the directives and guidelines for prudent fiscal management, contained in an agreement between the Governments of the Cayman Islands and the United Kingdom dated 23rd November, 2011, the terms of which are set out in Schedule 6;
includes duty, power and role;
means —
International Public Sector Accounting Standards issued by the International Federation of Accountants;
where no guidance is provided by those standards, International Accounting Standards issued by the International Accounting Standards Committee; or
where no guidance is provided by the standards referred to in paragraphs (a) and (b), accounting practice that is generally accepted within the accounting profession in the United Kingdom as appropriate for reporting by the national governments, regional governments, local governments and related governmental entities such as agencies, boards, commissions and enterprises;
means —
a company in which the core government has a controlling interest; and
in respect of each such company, includes all subsidiary entities of the company;
means any labour, capital or other resource used to produce outputs;
means a job description made under the Public Service Management Act (2018 Revision), Regulations under that Act or another instrument made under that Act or those Regulations;
means the Government department, including all of its staff and physical resources, which provides administrative support for the Judiciary;
means the phase of the budget process under section 21;
means any loan of money or other provision of credit, whether secured or unsecured, but does not include the sale of goods or services on credit for a period of ninety days or less;
means a member of the Cayman Islands Parliament who has been appointed to the Cabinet in accordance with section 44 of the Constitution;
means the Minister charged with responsibility for finance under section 54 of the Constitution;
means the whole of the division of government administration for the actions of which a Minister is accountable to the Cayman Islands Parliament and includes a departmental section or unit which forms part thereof, but does not include a statutory authority, government company, the Office of the Ombudsman or the Audit Office;
means the broad categories of the outputs produced and of the markets to which they are provided;
means total assets less total liabilities;
means a person or entity that is supplying outputs to the Cabinet and that is not a ministry, portfolio, statutory authority, government company, the Office of the Ombudsman or the Audit Office;
means a member of the Cabinet who is not a Minister;
means the Ombudsman, initially called the Compliants Commissioner, appointed under section 120(2) of the Cayman Islands Constitution Order, 2009 [UKSI 2009/1379] and section 3 of the Ombudsman Act (2021 Revision);
means the impacts on, or the consequences for, the community of the outputs or activities of the entire public sector, the core government, an entity or other person;
means the goods or services that are produced by an entity or other person;
means a grouping of outputs having a similar nature;
means, in relation to an entity, the performance that an ordinary person who was the owner of that entity would expect of that entity;
means a fund continued or established under a pensions Law or by an Order under a pensions Law;
means the Judges and Magistrates Emoluments and Allowances Act (2021 Revision), Parliamentary Pensions Act (2016 Revision) or the Public Service Pensions Act (2023 Revision);
means an entity or individual;
means the whole of a division of government administration for the actions of which an official member is accountable to the Cayman Islands Parliament, and includes —
a departmental section or unit which forms part thereof;
the Governor's office; and
the judicial administration;
means any person employed in the civil service but does not include any member of the Cabinet or Cayman Islands Parliament;
means the Public Service Pensions Board established under section 5(1) of the Public Service Pensions Act (2023 Revision);
for a document under this Act, means to publish a notice in the Gazette stating that the document has been made and how it may be accessed under section 83 of this Act;
means an entity (including the Public Service Pensions Board) established by a law to carry out functions which are capable under that Act, of being funded, partly or entirely, by money provided by the Cabinet, and for which the Governor or the Cabinet has the power to appoint or dismiss the majority of the Board or other governing body;
in relation to an entity, means an entity in which the first mentioned entity has a controlling interest;
means a benefit or similar payment for which no output or consideration is provided; and
means assets (including money, but not money belonging to the core government) transferred or paid to the Government, a ministry, portfolio, the Office of the Ombudsman or the Audit Office in trust for any purpose or to hold for or on behalf of any person, and includes any such assets —
to be held pending the completion of a transaction or dispute; or
that belong or are due to any person and are collected under any agreement with that person.

Defined Terms

appropriationAppropriation ActAppropriation BillAudit Officeborrowingbudget periodcapital withdrawalcentralised accounting information systemcentralised banking systemChief OfficerChief Officer of financecoercive revenueConstitutioncore governmententire public sectorentityentity assetsentity expensesentity liabilitiesentity financial transactionentity revenueequity investmentexceptional circumstanceexecutive assetsexecutive expensesexecutive financial transactionexecutive liabilitiesexecutive revenueFinancial Secretaryfinancial yearFrameworkfunctiongenerally accepted accounting practicegovernment companyinputjob descriptionjudicial administrationlegislative review phaseloanMinisterMinister of Financeministrynature and scope of the activitiesnet worthnon-governmental output supplierofficial memberOmbudsmanoutcomesoutputsoutput groupownership performancepension fundpensions Lawpersonportfoliopublic officerPublic Service Pensions Boardpublished by notice in the Gazettestatutory authoritysubsidiary entitytransfer paymenttrust assets

Cross References

Referenced By