AI-assisted research summary: These Regulations set the fees private funds must pay for registration, annual registration, and filing changes, and they repeal the 2020 fees regulations.
CAYMAN ISLANDS Private Funds Act (2021 Revision) PRIVATE FUNDS (FEES) REGULATIONS, 2024 (SL 74 of 2024) Supplement No. 40 published with Legislation Gazette No. 47 dated 19th December, 2024. PUBLISHING DETAILS Page 2 SL 74 of 2024 c Private Funds (Fees) Regulations, 2024 Arrangement of Regulations CAYMAN ISLANDS Private Funds Act (2021 Revision) PRIVATE FUNDS (FEES) REGULATIONS, 2024 (SL 74 of 2024) Arrangement of Regulations Regulation Page 1. Citation and commencement .....................................................................................................5 2. Definitions ..................................................................................................................................5 3. Fee for application to be registered ............................................................................................6 4. Annual registration fee ...............................................................................................................6 5. Fee for filing details of change ...................................................................................................6 6. Repeal .......................................................................................................................................6 c SL 74 of 2024 Page 3 Private Funds (Fees) Regulations, 2024 Regulation 1 CAYMAN ISLANDS Private Funds Act (2021 Revision) PRIVATE FUNDS (FEES) REGULATIONS, 2024 (SL 74 of 2024) In exercise of the powers conferred by section 31 of the Private Funds Act (2021 Revision), the Cabinet makes the following Regulations — 1. Citation and commencement 1. (1) These Regulations may be cited as the Private Funds (Fees) Regulations, 2024. (2) These Regulations come into force immediately after the Private Funds (Amendment and Validation) Act, 2024 comes into force. 2. Definitions 2. In these Regulations — “exempted trust” has the meaning assigned by regulation 2 of the Private Funds (Annual Returns) Regulations, 2021; “master unit trust structure” has the meaning assigned by regulation 2 of the Private Funds (Annual Returns) Regulations, 2021; “segregated portfolio company” has the meaning assigned by section 212 of the Companies Act (2023 Revision); “sub-fund” has the meaning assigned by regulation 2 of the Private Funds (Annual Returns) Regulations, 2021; “sub-trust” has the meaning assigned by regulation 2 of the Private Funds (Annual Returns) Regulations, 2021; and c SL 74 of 2024 Page 5 Regulation 3 Private Funds (Fees) Regulations, 2024 “umbrella trust structure” has the meaning assigned by regulation 2 of the Private Funds (Annual Returns) Regulations, 2021. 3. Fee for application to be registered 3. For the purposes of section 6 of the Act, the fee payable by a private fund applying to be registered under the Act is three hundred dollars. 4. Annual registration fee 4. For the purposes of section 10(1) of the Act, the annual registration fee payable by a private fund is — (a) three thousand, six hundred and seventy-five dollars; (b) an additional amount of three hundred dollars in respect of each of the private fund’s alternative investment vehicles; (c) where the private fund is a segregated portfolio company, an additional amount of three hundred dollars in respect of each segregated portfolio; and (d) where the private fund is an exempted trust, an umbrella trust structure or a master unit trust structure — (i) in respect of each sub-trust, an additional amount of three hundred dollars; and (ii) in respect of each sub-fund, an additional amount of three hundred dollars. 5. Fee for filing details of change 5. For the purposes of section 11 of the Act, the fee payable by a private fund on filing the details of a change with the Authority is three hundred dollars. 6. Repeal 6. The Private Funds (Fees) Regulations, 2020 are repealed. Made in Cabinet the 17th day of December, 2024. Kim Bullings Clerk of the Cabinet Page 6 SL 74 of 2024 c