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ARTICLE · 14 FEBRUARY 2020

Cayman Islands Private Funds Law, 2020

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On 7 February 2020, the Cayman Islands Government published the Private Funds Law, 2020 and the Private Funds (Savings and Transitional Provisions) Regulations 2020 (together, the "Law").

Cayman IslandsFinance and Banking
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On 7 February 2020, the Cayman Islands Government published the Private Funds Law, 2020 and the Private Funds (Savings and Transitional Provisions) Regulations 2020 (together, the "Law").

The Law provides for the registration of certain closed-ended funds (termed "private funds") with the Cayman Islands Monetary Authority ("CIMA").  The main provisions of the Law, including what constitutes a private fund, are summarised in the update1 we published when the Law was in draft bill form.

The Law will commence on 7 February 2020 (the "Commencement Date").

When will private funds need to register?

The regulations provide certain transitional provisions for private funds that have commenced carrying on business at any time prior to the date which is six months after the Commencement Date (each a "transitional private fund").

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