Public Authorities Law. Country/Territory Cayman Islands (UK) Document type Legislation Date 2017 (2019) Source FAO, FAOLEX Subject General Keyword Legal proceedings/administrative proceedings Governance Procedural matters Public private partnership (PPP) Geographical area Americas, Caribbean, Latin America and the Caribbean Abstract The purpose of this Law is to provide uniform regulation of the management and governance of public authorities. Nothing in this Law shall be construed as affecting the principal functions of any public authority and shall not affect the independent regulatory decision making process with regard to the issue or suspension of licenses, and any other regulatory decision. The purpose of a public authority is to help the Government to achieve its policy objectives when those objectives are more effectively accomplished through the use of separate legal entities rather than through the civil service. Public authorities are not part of the civil service but are part of the public service and, as such, shall operate in a manner which best serves the public interest. The principal objectives of a public authority are to — (a) deliver the outcomes specified by Cabinet; (b) supply outputs that the Cabinet has agreed that it will purchase from the public authority; (c) supply outputs to entities or individuals other than the Cabinet for payment on a break-even basis or preferably at a profit, and in accordance with agreements with those entities or individuals; and (d) achieve the ownership performance that it has agreed with the Cabinet that it will achieve during a year. It is the duty of a public authority to conduct its affairs in a responsible financial manner and accordingly, a public authority shall operate as a profitable and efficient business and contribute to the revenue of core government or, at least, break even in its operations. Full text English Website www.ofreg.ky