Besides the company law, amendments were made to the securities Investment Business Bill and the Property Bill. Charles Jennings, Chairman of the Financial Services Legislative Committee, has said that there are several more proposals in development.
hese amendments are the end result of an extensive consultation process, aimed at addressing client and market-driven issues that have arisen in practice. It is expected to increase the attractiveness of the Cayman Islands as a domicile for corporate entities and maintain our competitive edge. Therefore, our local industry will benefit ten-fold from these new amendments, creating new opportunities for growth in this key sector of our economy, said McKeeva Bush, Cayman premier.
Bush pointed out that the offshore finance world is growing increasingly competitive, and demands constant innovation. t is important when we are challenged on what we do here to amend laws to stay competitive, Bush stated. here are many, many competitors. All those little islands that were once agriculture based are doing finance business. We can't sit down and do nothing, we have to be innovative.....We can't fight G20.We have to be transparent with the right legislation and keep our nose clean. /p>
