Statutory Authorities and Government Companies (SAGCs)
There are 19 Statutory Authorities and 7 Government Companies (SAGCs), which are semi-autonomous bodies with the Cayman Islands Government as the sole shareholder. Each has its own governing body, generally a board of directors, which is appointed by Cabinet and answerable to the Legislative Assembly.
The duties and powers of statutory authorities and government companies are set out in Part V of the Public Management and Finance Law (2010 Revision). Each statutory authority is established under its own enabling legislation, which establishes the details of its governance. Government companies are created under the Cayman Islands Companies Law and its governance is set out in its Memorandum and Articles of Association required by the law.
The Office of the Auditor General’s report Accountability of Statutory Authorities & Government Companies – January 2014 was very critical of the SAGCs.
- Auditor Oversight Authority
- Cayman Islands Airport Authority
- Cayman Islands Development Bank
- Cayman Islands Monetary Authority
- Cayman Islands National Museum
- Cayman Islands Cultural Foundation
- Civil Aviation Authority
- Electricity Regulatory Authority
- Health Services Authority
- Information Communication and Technology Authority
- Maritime Authority of the Cayman Islands
- The National Drug Council
- National Gallery of the Cayman Islands
- National Roads Authority
- Port Authority of the Cayman Islands
- Public Service Pension Board
- Tourism Attraction Board
- University College of the Cayman Islands
- Water Authority
- Cayman Airways Limited
- Cayman Islands Stock Exchange Limited
- Cayman Turtle Farm (1983) Ltd.
- Children and Youth Services (CAYS) Foundation
- Cayman Islands National Insurance Company Limited
- National Housing Development Trust
- Sister Islands Affordable Housing Corporation