The International Scuba Diving Hall of Fame told Cayman 27 it’s on track to be among the first new non-profit organisations to register under the new law.
Board member Rod McDowell said the Hall of Fame looked into registering as a non-profit organisation under section 80 of the companies law, but found the process too cumbersome. Now, he said the new legislation has effectively sliced through several layers of red tape.
“We’re excited about that because it would just take in enormous amount of time and aggravation out of the bureaucracy, which is exciting and then we can get down to the work of actually doing it,” said Mr. McDowell.
The Ministry of Financial Services is hosting information sessions for those interested in learning more about how the law works.
These sessions take place 9th August from 2-3pm, 14th August from 10:30-noon, 23rd August from 10-11am, and 29th August from 2-3pm. The sessions are slated to take place in room 1038 of the Government Administration Building.