Decision Notice - Director Registration Cancelled for Dzintars Derkacs (2024-02-21)

Summary

This is a Decision Notice published by CIMA disclosing that it has cancelled the director registration of Mr. Dzintars Derkacs (Director Registration #2780201) under the Directors Registration and Licensing Act, 2014. It is an enforcement outcome notice rather than a policy or rule document, and applies only to this individual.

• Breach: Mr. Derkacs failed to provide information to CIMA in the prescribed form and failed to pay prescribed annual fees for 2021 through 2024 by the 15 January deadline each year, in breach of section 6(2) of the Act.
• Prior warning: CIMA had issued a Warning Notice on 05 December 2023 before taking this action.
• Action taken: CIMA cancelled his registration as a registered director pursuant to section 25(2)(a) of the Act.
• Effective date: The cancellation decision is effective 09 February 2024.
• Appeal right: Mr. Derkacs has a right to appeal to the Cayman Islands court under section 27(5) of the Act.

For the general public and other registered directors, this notice serves as a record of enforcement action and a reminder that failure to file required information and pay annual fees on time can result in cancellation of director registration.

Applies to

registered directors