s.2Interpretation
2
Section 2Part 1 — INTRODUCTORY

Interpretation

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In this Law —
includes the function to give advice, in accordance with the Law which governs the authority, to the government and to such other persons to whom the authority is required to give advice by that Law;
means an item of economic value that is expected to yield a benefit to its owner in the future;
means the board of a public authority established pursuant to section 8;
means member of a board appointed pursuant to section 9;
means any borrowing of money or other receipt of credit, whether secured or unsecured, and includes any hire purchase agreement or finance lease, but does not include the purchase of goods or services on credit for a period of ninety days or less;
means the cost to a public authority of borrowing money to buy or improve the buildings, equipment, or other capital assets that it uses to produce products or provide services;
means a person who possesses Caymanian status under the Immigration Transition Law, 2018 [Law 33 of 2018] or any earlier law providing for the same or similar rights and a person who acquired that status under Part III of the repealed Immigration Law (2015 Revision);
means the Cayman Islands Monetary Authority established under section 5 of the Monetary Authority Law (2020 Revision);
means the head of a public authority;
means the person appointed as chief officer in a Ministry or Portfolio which has responsibility for a public authority;
means a person employed by an entity other than a public authority and is a public officer as defined by the Constitution;
means the function of an authority to provide assistance to overseas regulatory authorities in accordance with the Law which governs the authority;
means the Legislative Assembly, the Cabinet, ministries, portfolios, the Office of the Ombudman and the Audit Office and includes the equity investment in statutory authorities and government companies;
means the reserve established under section 32 of the Monetary Authority Law (2020 Revision);
means any body and includes a ministry, portfolio, statutory authority, government company, the Office of the Ombudman and the Audit Office;
means such date as the Cabinet may determine;
means —
a company in which the Government has a controlling interest; and
in respect of each such company, includes all subsidiary entities of the company;
means misconduct that is of such a serious nature or magnitude that, in the opinion of the appointing officer, the employee should be dismissed with immediate effect;
in relation to the Cayman Islands Monetary Authority, mean the functions —
to issue and redeem currency notes and coins; and
to manage the Currency Reserve
means the goods or services that are produced by an entity or other person;
means an agreement which specifies the ownership performance to be achieved by a public authority and which is prepared in accordance with section 50 of the Public Management and Finance Law (2020 Revision);
means, in relation to an entity, the performance that an ordinary person who was the owner of that entity would expect of that entity;
means a statutory authority or government company;
means a person employed by a public authority and is a public officer as defined by the Constitution;
means Ministries, Portfolios, the Judiciary, the Legislative Assembly, agencies reporting directly to the Legislative Assembly, Governmental committees, statutory authorities and government companies;
means an agreement which specifies all the outputs the Cabinet intends to purchase from a public authority and which is prepared in accordance with section 49 of the Public Management and Finance Law (2020 Revision);
—
includes the function to regulate and supervise persons in accordance with the Law which governs the authority; or
has the meaning assigned by the Law which governs the authority;
means salary, wages, allowances and any benefits received by a person as a result of that person's employment;
means —
chief financial officers and deputy chief financial officers of public authorities; and
heads of departments, sections or units of public authorities and their deputies;
means misconduct that is serious in nature or magnitude but is not so severe as to be gross misconduct; and
means an entity established by a law to carry out functions which are capable under that law, of being funded, partly or entirely, by money provided by the Cabinet, and for which the Governor or the Cabinet has the power to appoint or dismiss the majority of the board or other governing body.

Defined Terms

advisory functionassetboardboard memberborrowingcapital chargeCaymanianCayman Islands Monetary Authoritychief executive officerchief officercivil servantco-operative functioncore governmentCurrency Reserveentityfinancial yeargovernment companygross misconductmonetary functionsoutputsownership agreementownership performancepublic authoritypublic servantpublic servicepurchase agreementregulatory functionremunerationsenior staffserious misconductstatutory authority

Cross References