All Notaries Public registered in the Cayman Islands have been emailed a survey link from the Portfolio of Legal Affairs, Cayman Islands Government, inviting them to comment on proposed changes to the Notaries Public Act (2023 Revision), which govern their service.
In a press release, the government said, “The key proposals include restricting appointments to Caymanians only, introducing mandatory training and continuing education for non-attorney notaries and requiring professional indemnity insurance for notaries who do not currently have insurance.”
“There are also proposed changes to set new standards for fitness and good character and introducing confidentiality requirements for notarial practice,” the release added.
Attorney General Samuel Bulgin, who is sponsoring the bill, said, “The Cayman Islands has a strong reputation for robust legal services, including financial services that meet international standards. Notaries, trusted by the public to handle legal and financial documents, including for cross border transactions, are a key part of our regulatory regime. Therefore, the proposed amendments are necessary to improve the provision of notarial service in the Islands.”
The government said the “proposed amendments to the act aim to modernise the regulatory framework to bring it in line with international standards”, adding, “The proposed changes would also address known issues with the current framework, including inadequate record-keeping and insufficient qualification requirements.”
Following the stakeholder consultation period, members of the public will have the opportunity to comment on the bill during a 28-day public consultation period. The bill will then be considered by Parliament.
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The reasons given for the changes do not include the change that allows only Caymanians to hold this office. This will not necessarilyimprove the service provided. Does this proviso apply in the UK?.