What subsequent for Authorized Companies Act?

What next for Legal Services Act?


‘Lawyer’ writes: The Legal Services Act, 2020 was published with Legislation Gazette No. 1 dated 7 January 2021, replacing the Legal Practitioners Act (2015 Revision) and providing a comprehensive legal framework to enhance the reputation of the Cayman Islands and ensure that local law is only practised by qualified, regulated and accountable lawyers. The Cabinet now has the task of passing an order to publicly state the date when the Act will come into effect.

At first glance, the reasons for bringing the Act into force seem clear as a bell. In my best mother tongue accent, “elementary” (maybe even “clever”). However, when a comprehensive assessment is done, it is apparent that a substantial understanding of the implications is first required before the next steps can be taken by Cabinet. This is vital, as such actions may either secure futures or destroy livelihoods, depending on where your meal is served in the financial services trough.