Public Authorities Act (2020 Revision)
Summary
A law that standardizes the governance, financial management, and personnel practices of statutory bodies and government-owned companies in the Cayman Islands.
Sources
Public_Authorities_Act_(2020_Revision).pdf
Last Updated
2026-04-27
The Public Authorities Act (formerly Law) provides a uniform framework for the management of entities such as cima, ensuring they operate according to consistent standards of accountability and transparency.
Governance and Management
- Board of Directors: Each authority must have a board responsible for its governance and strategic oversight. Members are appointed by the Cabinet.
- CEO Appointment: The board is responsible for appointing a Chief Executive Officer to manage the day-to-day operations.
- Regulatory Independence: The Act explicitly protects the independence of regulatory authorities in their decision-making processes, such as the granting or suspension of licenses.
Financial and Personnel Standards
- Financial Management: Authorities must comply with the Public Management and Finance Act, maintain audited financial statements, and may be required to pay dividends to the Government.
- Personnel: Recruitment must be open and fair. The Act requires that preference be given to Caymanians where candidates are of equal merit.
- Code of Conduct: Employees of public authorities are subject to the Public Servant’s Code of Conduct.