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Companies (Amendment) Act, 2023 (Act 15 of 2023)

Cayman Islands Monetary Authority (CIMA) · Cayman Islands

Superseded

Status per the Cayman Islands legislation register (legislation.gov.ky) (as at 2026-07-09)

Superseded — see the current version: Companies Act (2026 Revision). Retained here for historical reference.

View on CIMA's website Source document

Current version last checked: 2026-07-05

Summary

The Companies (Amendment) Act, 2023 (Act 15 of 2023) is a short amending statute that removes the beneficial ownership register regime from the Companies Act (2023 Revision).

  • Repeals section 80D.
  • Deletes references to Part XVIIB (administrative fines) in section 156A.
  • Repeals Parts XVIIA and XVIIB in their entirety.
  • Amends section 282 to remove the reference to Schedule 7.
  • Repeals Schedules 6 and 7 (which listed exempt countries/territories and administrative fines related to beneficial ownership).

The practical effect is that beneficial ownership obligations for Cayman Islands companies are being relocated out of the Companies Act. Section 156A now points instead to section 26 of the Beneficial Ownership Transparency Act, 2023, indicating that the substantive beneficial ownership filing and enforcement provisions are being consolidated into that separate Act rather than eliminated outright.

This Act does not itself set out new compliance duties for companies; it is a legislative housekeeping/restructuring measure. Anyone needing to understand current beneficial ownership obligations for Cayman companies should look to the Beneficial Ownership Transparency Act, 2023 rather than the now-repealed Parts XVIIA/XVIIB of the Companies Act.

Commencement is not fixed by the Act itself: it comes into force on a date (or dates) to be appointed by Cabinet Order, and different provisions may be brought into force on different dates, so readers should check for a corresponding commencement order to determine when specific repeals take effect.

Applies to

companies registered under the Companies Act (2023 Revision)

Deadlines

  • such date as may be appointed by Order made by the Cabinet: Commencement of the Act (and potentially different commencement dates for different provisions) is to be fixed by Cabinet Order rather than a fixed date in the Act.

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Version history

2026-07-05

source file (current)