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Law Of The Cayman Islands
The law of the Cayman Islands is a combination of common law and statute, and is based heavily upon English law. Law in the Cayman Islands tends to be a combination of the very old and the very new. As a leading offshore financial centre, the Cayman Islands has extremely modern statutes dealing with company law, insolvency, banking law, trust law, insurance and other related matters.The Cayman Islands Legislation website. (2020). Retrieved from https://legislation.gov.ky/cms/legislation/current.html However, in other areas of law, such as family law, the laws of the Cayman Islands are based upon old English statutes which can cause some difficulty in modern times. Other areas of law, such as international law, are essentially regulated externally through the Foreign and Commonwealth Office in London by Order in Council. A large body of the laws of the Cayman Islands consists of the common law, which continually updates itself through judicial precedent in the Territory an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cayman Islands
The Cayman Islands () is a self-governing British Overseas Territory—the largest by population in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the south of Cuba and northeast of Honduras, between Jamaica and Mexico's Yucatán Peninsula. The capital city is George Town on Grand Cayman, which is the most populous of the three islands. The Cayman Islands is considered to be part of the geographic Western Caribbean Zone as well as the Greater Antilles. The territory is a major world offshore financial centre for international businesses and wealthy individuals, largely as a result of the state not charging taxes on any income earned or stored. With a GDP per capita of $91,392, the Cayman Islands has the highest standard of living in the Caribbean. Immigrants from over 130 countries and territories reside in the Cayman Islands. History No archaeological evidence for an indigenous ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign And Commonwealth Office
The Foreign, Commonwealth & Development Office (FCDO) is a Departments of the Government of the United Kingdom, department of the Government of the United Kingdom. Equivalent to other countries' Ministry of Foreign Affairs, ministries of foreign affairs, it was created on 2 September 2020 through the merger of the Foreign & Commonwealth Office (FCO) and the Department for International Development (DFID). The FCO, itself created in 1968 by the merger of the Foreign Office (FO) and the Commonwealth Office, was responsible for protecting and promoting British interests worldwide. The head of the FCDO is the Secretary of State for Foreign, Commonwealth and Development Affairs, commonly abbreviated to "Foreign Secretary". This is regarded as one of the four most prestigious positions in the Cabinet of the United Kingdom, Cabinet – the Great Offices of State – alongside those of Prime Minister of the United Kingdom, Prime Minister, Chancellor of the Exchequer and Home Secretary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cayman Islands Bankruptcy Law
Cayman Islands bankruptcy law is principally codified in five statutes and statutory instruments: * the Bankruptcy Law (1997 Revision) * the Companies Law (2013 Revision) * the Companies Winding Up Rules 2008 (as amended) * the Insolvency Practitioners' Regulations 2008 (as amended) * the Foreign Bankruptcy Proceedings (International Cooperation) Rules 2008 These are supplemented by a number of practice directions of the Cayman Islands courts and a wide body of case law. Most of the recent emphasis of bankruptcy law reform in the Cayman Islands relates to corporate insolvency rather than personal bankruptcy. As an offshore financial centre, the Cayman Islands has more resident companies than citizens, and accordingly the courts a large amount of time dealing with corporate insolvency and reorganisation. Because a large number of Cayman Islands are listed on stock exchanges in major financial centres, and number of Cayman Islands corporate bankruptcies have generated a high pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cayman Islands Company Law
Cayman Islands company law is primarily codified in the Companies Law (2018 Revision) and the Limited Liability Companies Law, 2016, and to a lesser extent in the Securities and Investment Business Law (2015 Revision). The Cayman Islands is a leading offshore financial centre (also known as a tax haven), and financial services form a significant part of the economy of the Cayman Islands. Accordingly company law forms a much more prominent part of the law of the Cayman Islands than might otherwise be expected. Types of company There are broadly two types of company in the Cayman Islands. The first, and more prevalent, are companies formed under the Companies Law (2013 Revision). Such companies may be formed as ordinary resident companies, ordinary non-resident companies, exempted companies, exempted limited duration companies (LDC) or special economic zone companies (SEZ). The second is limited liability companies (or LLCs) formed under the Limited Liability Companies La ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Overseas Territories
The British Overseas Territories (BOTs), also known as the United Kingdom Overseas Territories (UKOTs), are fourteen dependent territory, territories with a constitutional and historical link with the United Kingdom. They are the last remnants of the former British Empire and do not form part of the United Kingdom itself. The permanently inhabited territories are internally Self-governance, self-governing, with the United Kingdom retaining responsibility for Defence (military), defence and foreign relations. Three of the territories are inhabited only by a transitory population of military or scientific personnel. All but one of the rest are listed by the Special Committee on Decolonization, UN Special Committee on Decolonization as United Nations list of non-self-governing territories, non-self-governing territories. All fourteen have the Monarchy of the United Kingdom, British monarch as head of state. three territories (the Falkland Islands, Gibraltar and the Akrotiri an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicial Committee Of The Privy Council
The Judicial Committee of the Privy Council (JCPC) is the highest court of appeal for the Crown Dependencies, the British Overseas Territories, some Commonwealth countries and a few institutions in the United Kingdom. Established on 14 August 1833 to hear appeals formerly heard by the King-in-Council, the Privy Council formerly acted as the court of last resort for the entire British Empire, other than for the United Kingdom itself.P. A. Howell, ''The Judicial Committee of the Privy Council, 1833–1876: Its Origins, Structure, and Development'', Cambridge, UK: Cambridge University Press, 1979 Formally a statutory committee of His Majesty's Most Honourable Privy Council, the Judicial Committee consists of senior judges who are Privy Councillors; they are predominantly Justices of the Supreme Court of the United Kingdom and senior judges from the Commonwealth of Nations. Although it is often simply referred to as the 'Privy Council', the Judicial Committee is only one cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations
The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations. It is the world's largest and most familiar international organization. The UN is headquarters of the United Nations, headquartered on extraterritoriality, international territory in New York City, and has other main offices in United Nations Office at Geneva, Geneva, United Nations Office at Nairobi, Nairobi, United Nations Office at Vienna, Vienna, and Peace Palace, The Hague (home to the International Court of Justice). The UN was established after World War II with Dumbarton Oaks Conference, the aim of preventing future world wars, succeeding the League of Nations, which was characterized as ineffective. On 25 April 1945, 50 governments met in San Francisco for United Nations Conference ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dependent Territory
A dependent territory, dependent area, or dependency (sometimes referred as an external territory) is a territory that does not possess full political independence or sovereignty as a sovereign state, yet remains politically outside the controlling state's integral area. A dependent territory is commonly distinguished from a country subdivision by being considered not to be a constituent part of a sovereign state. An administrative subdivision, instead, is understood to be a division of a state proper. A dependent territory, conversely, often maintains a great degree of autonomy from its controlling state. Historically, most colonies were considered to be dependent territories. The dependent territories that currently remain in the world today generally maintain a very high degree of political autonomy. Not all autonomous entities, though, are considered to be dependent territories. Most inhabited dependent territories have their own ISO 3166 country codes. Some political entiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicial Precedent
A precedent is a principle or rule established in a previous legal case that is either binding on or persuasive for a court or other tribunal when deciding subsequent cases with similar issues or facts. Common-law legal systems place great value on deciding cases according to consistent principled rules, so that similar facts will yield similar and predictable outcomes, and observance of precedent is the mechanism by which that goal is attained. The principle by which judges are bound to precedents is known as ''stare decisis'' (a Latin phrase with the literal meaning of "to stand in the-things-that-have-been-decided"). Common-law precedent is a third kind of law, on equal footing with statutory law (that is, statutes and codes enacted by legislative bodies) and subordinate legislation (that is, regulations promulgated by executive branch agencies, in the form of delegated legislation) in UK parlance – or regulatory law (in US parlance). Case law, in common-law jurisdictions, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Order In Council
An Order-in-Council is a type of legislation in many countries, especially the Commonwealth realms. In the United Kingdom this legislation is formally made in the name of the monarch by and with the advice and consent of the Privy Council ('' King-in-Council''), but in other countries the terminology may vary. The term should not be confused with Order of Council, which is made in the name of the Council without royal assent. Types, usage and terminology Two principal types of Order in Council exist: Orders in Council whereby the King-in-Council exercises the royal prerogative, and Orders in Council made in accordance with an Act of Parliament. In the United Kingdom, orders are formally made in the name of the monarch by the Privy Council ('' King-in-Council or Queen-in-Council''). In Canada, federal Orders in Council are made in the name of the Governor General by the King's Privy Council for Canada; provincial Orders-in-Council are of the Lieutenant-Governor-in-Council by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Law
International law (also known as public international law and the law of nations) is the set of rules, norms, and standards generally recognized as binding between states. It establishes normative guidelines and a common conceptual framework for states across a broad range of domains, including war, diplomacy, economic relations, and human rights. Scholars distinguish between international legal institutions on the basis of their obligations (the extent to which states are bound to the rules), precision (the extent to which the rules are unambiguous), and delegation (the extent to which third parties have authority to interpret, apply and make rules). The sources of international law include international custom (general state practice accepted as law), treaties, and general principles of law recognized by most national legal systems. Although international law may also be reflected in international comity—the practices adopted by states to maintain good relations and mutua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. '' Stare decisis'', the principle that cases should be decided according to consistent principled rules so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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