LANDMARK LEGISLATION AS PARLIAMENT RESUMES

When the Cayman Islands Parliament resumes this Wednesday, 30 September 2026, at 2:00 pm, Parliamentarians will consider several pieces of legislation that will set the template for years to come.

Among the nine bills to be tabled is a motion to consider setting up a sovereign wealth fund, along with an all-encompassing public health bill, and an equally comprehensive environmental health bill.

Other similarly important issues include amendments to existing laws on development and planning, health practice, the functioning of notaries public, criminal records and spent convictions, changes to the existing laws governing the Monetary Authority, and a bill to amend the existing laws controlling tobacco.

SOVEREIGN WEALTH FUND MOTION

The proposal to establish a sovereign wealth fund has become a main discussion point since it was announced by the ruling National Coalition For Caymanians(NCFC) administration.

As outlined by the government, “a sovereign wealth fund is a national savings and investment mechanism that allows countries to pass forward current economic strength to future generations, allowing money set aside today to grow over the long term for the benefit of the people of the Cayman Islands.”

A sovereign wealth fund is owned by the country and managed independently from political influence. It creates an alternative revenue stream and increases resilience against future economic shocks or natural disasters.

Crucially, it has been stressed that, if supported in Parliament, the motion does not make any commitment to funding or entitlement but would authorise the NCFC government to carry out the research, consultation, due diligence, and policy development required to return to Parliament with a detailed proposal, including any potential legislative requirements.

Hon. Premier and Minister for Financial Services and Commerce Andre Ebanks stated: “The premise is straightforward. A period of economic and fiscal strength is an opportunity to save for the future. Our NCFC government is looking beyond election cycles when we talk about building a stronger, fairer Cayman Islands, and a sovereign wealth fund done right would pay dividends for many generations to come.”

The Premier’s views are echoed by Hon. Parliamentary Secretary for Financial Services and Commerce, Juklie Hunter: “50 years of prosperity in financial services, tourism, and local commerce gives us an opportunity. When a country is doing well financially, the wise thing to do is to set money aside for the generations to come, and to be ready for whatever the future may bring. That is why the NCFC government is moving a motion asking Parliament to support, in principle, the creation of a sovereign wealth fund. This money, invested over time, would grow and provide for the Cayman Islands in years to come.”

Parliamentary Secretary Hunt also emphasised that “the motion is not to establish the fund today, nor does it commit any money. It simply allows us to begin the work on how such a fund would be set up” However, her comment that “This NCFC government wants to ensure that we are leaving these islands in a strong position” suggests that this is a priority policy the government wants to pursue.

ENVIRONMENTAL HEALTH BILL, 2026 

Meanwhile, the NCFC government is introducing a sweeping new law covering just about all aspects of environmental health in the jurisdiction.

Piloted by Hon. Minister for the Environment and Sustainability, Katherine Ebanks-Wilks, the detailed legislation is divided into fourteen parts and contains fifty-seven clauses and three schedules.

These include food safety and hygiene, laboratory services, oversight of potentially health-impacting trades, reducing noise nuisances, disposal of hazardous waste, handling and disposing of human remains and enforcement measures.

PUBLIC HEALTH BILL, 2026

Min. Ebanks Wilks is also spearheading a comprehensive review of public health management in the Cayman Islands, under the new Public Health Bill. It provides for the establishment of the Public Health Department, which will be responsible for the protection and improvement of the health of the people of the Cayman Islands. The new legislation which repeals and replaces the Public Health Act (2026 Revision), specifies that public health work includes disease prevention, health protection, surveillance of health risks, preparedness for public health incidents, and the improvement of health outcomes. It provides for the establishment of the Department of Public Health, which shall be responsible for the protection and improvement of the health of the people of the Cayman Islands through public health work.

FUEL MARKET REGULATIONS AND OTHER CHANGES

This bill, which amends the Fuel Market Regulation Act (2017 Revision), adds several key definitions under the headings of fuel supply contract, re-tender, and significant market power sectoral provider. It also proposes giving the Utility Regulation and Competition Office(URCO) the power to review all fuel supply contracts. This includes determining if the contract is still in the public’s best interest, and providing notice, if necessary, if the contract should be re-tendered, and the principles that should be followed in the re-tendering process.

The other similarly important amendments to existing laws cover: development and planning, health practice, notaries public, criminal records spent convictions, changes to the existing laws governing the Monetary Authority, and a bill to amend the existing laws controlling tobacco.