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(1) These Regulations may be cited as the Monetary Authority (Administrative Fines) (Amendment) Regulations, 2024. (2) These Regulations come into force on 31st July, 2024.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Amendment of Schedule 1 of the Monetary Authority (Administrative Fines) Regulations (2022 Revision) - prescribed provisions and breach categories 2. The Monetary Authority (Administrative Fines) Regulations (2022 Revision) are amended in Schedule 1 as follows \u2014 (a) in the item numbered 2 as \u201cBANKS AND TRUST COMPANIES ACT (2021 REVISION)\u201d, as follows \u2014 (i) in the reference to section 13(1) in the description of breach in Column 3, in paragraph (e), by deleting subparagraph (ii) and substituting the following subparagraph \u2014 Regulation 2 Monetary Authority (Administrative Fines) (Amendment) Regulations, (SL 28 of 2024) \u201c(ii) the Beneficial Ownership Transparency Act, 2023 if the licensee is a \u201ccorporate services provider\u201d as defined in that Act;\u201d; and (ii) in the reference to section 18(1)(ca) in the description of breach in Column 3, by deleting the description of breach in column 3 and substituting the following description of breach \u2014 \u201cA person who holds a licence issued under section 6(5)(c), (e) or (f) of the Act and who is a \u201ccorporate services provider\u201d, as defined in the Beneficial Ownership Transparency Act, 2023 in contravention of that Act.\u201d; (b) in the item numbered 5 as \u201cCOMPANIES MANAGEMENT ACT (2021 REVISION)\u201d in the reference to section 18(1)(c) in the description of breach in Column 3, by deleting the words \u201c, Part XVIIA of the Companies Act (2022 Revision) or Part 12 of the Limited Liability Companies Act (2021 Revision)\u201d and substituting the words \u201cor the Beneficial Ownership Transparency Act, 2023\u201d; (c) in the item numbered 9 as \u201cINSURANCE ACT, 2010\u201d as follows \u2014 (i) in the reference to section 20(1) in the description of breach in Column 3, in paragraph (e), by deleting subparagraph (ia) and substituting the following subparagraph \u2014 \u201c(ia) the Beneficial Ownership Transparency Act, 2023 if the licensee is a \u201ccorporate services provider\u201d as defined in that Act;\u201d; and (ii) in the reference to section 21(2) in the description of the breach in Column 3, in paragraph (g), by deleting subparagraph (ia) and substituting the following subparagraph \u2014 \u201c(ia) the Beneficial Ownership Transparency Act, 2023;\u201d; (d) in the item numbered 29 as \u201cMUTUAL FUNDS ACT (2021 REVISION)\u201d in the reference to section 35(2) in the description of breach in Column 3, in paragraph (e), by deleting subparagraph (ia) and substituting the following subparagraph \u2014 \u201c(ia) in respect of a licensed mutual funds administrator, the Beneficial Ownership Transparency Act, 2023, if the licensee is a \u201ccorporate services provider\u201d as defined in that Act;\u201d; and Monetary Authority (Administrative Fines) (Amendment) Regulations, Regulation 2 (SL 28 of 2024) (e) in the item numbered 38 as \u201cVIRTUAL ASSETS (SERVICE PROVIDERS) ACT (2022 REVISION)\u201d in the reference to section 25(2)(g) in the description of breach in Column 3, by deleting the description of breach and substituting the following description of breach \u2014 \u201cA virtual asset service provider which is a \u201ccorporate services provider\u201d, as defined in the Beneficial Ownership Transparency Act, 2023 in contravention of that Act.\u201d. 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and\n(ii) in the reference to section 18(1)(ca) in the description of breach in\nColumn 3, by deleting the description of breach in column 3 and\nsubstituting the following description of breach \u2014\n\n\u201cA person who holds a licence issued under section\n6(5)(c), (e) or (f) of the Act and who is a \u201ccorporate\nservices provider\u201d, as defined in the Beneficial Ownership\nTransparency Act, 2023 in contravention of that Act.\u201d;\n(b) in the item numbered 5 as \u201cCOMPANIES MANAGEMENT ACT (2021\nREVISION)\u201d in the reference to section 18(1)(c) in the description of\nbreach in Column 3, by deleting the words \u201c, Part XVIIA of the Companies\nAct (2022 Revision) or Part 12 of the Limited Liability Companies Act\n(2021 Revision)\u201d and substituting the words \u201cor the Beneficial Ownership\nTransparency Act, 2023\u201d;\n(c)\nin the item numbered 9 as \u201cINSURANCE ACT, 2010\u201d as follows \u2014\n(i)\nin the reference to section 20(1) in the description of breach in\nColumn 3, in paragraph (e), by deleting subparagraph (ia) and\nsubstituting the following subparagraph \u2014\n\u201c(ia) the Beneficial Ownership Transparency Act, 2023 if the\nlicensee is a \u201ccorporate services provider\u201d as defined in\nthat Act;\u201d; and\n(ii) in the reference to section 21(2) in the description of the breach in\nColumn 3, in paragraph (g), by deleting subparagraph (ia) and\nsubstituting the following subparagraph \u2014\n\u201c(ia) the Beneficial Ownership Transparency Act, 2023;\u201d;\n(d) in the item numbered 29 as \u201cMUTUAL FUNDS ACT (2021 REVISION)\u201d\nin the reference to section 35(2) in the description of breach in Column 3,\nin paragraph (e), by deleting subparagraph (ia) and substituting the\nfollowing subparagraph \u2014\n\u201c(ia) in respect of a licensed mutual funds administrator, the\nBeneficial Ownership Transparency Act, 2023, if the\nlicensee is a \u201ccorporate services provider\u201d as defined in\nthat Act;\u201d; and\n\nMonetary Authority (Administrative Fines) (Amendment) Regulations,\n2024\nRegulation 2\n\nc\n\n(SL 28 of 2024)\n\nPage 5\n\n(e)\nin the item numbered 38 as \u201cVIRTUAL ASSETS (SERVICE\nPROVIDERS) ACT (2022 REVISION)\u201d in the reference to section\n25(2)(g) in the description of breach in Column 3, by deleting the\ndescription of breach and substituting the following description of\nbreach \u2014\n\n\u201cA virtual asset service provider which is a \u201ccorporate services\nprovider\u201d,\nas\ndefined\nin\nthe\nBeneficial\nOwnership\nTransparency Act, 2023 in contravention of that Act.\u201d.\n\nMade in Cabinet the 30th day of July, 2024.\nKim Bullings\nClerk of the Cabinet","akn_extracted_at":"2026-07-18 12:35:24.820732+00","cms_id":"2024-0028","law_type":"amending","year":"2024","number":"28","title":"Monetary Authority (Administrative Fines) (Amendment) Regulations, 2024 (SL 28 of 2024)","status":"spent"},"provenance":{"files":[{"file_id":"6823","expr_id":"2043","kind":"akn_xml","filename":"2024-0028.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2024\/2024-0028\/2024-0028.akn.xml","content_md5":"056c8812c43ae5b3ae2620bc0053cc12","byte_size":"6921","http_last_modified":null,"fetched_at":"2026-07-18 12:35:24.8619+00"},{"file_id":"4085","expr_id":"2043","kind":"pristine_pdf","filename":"2024-0028.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2024\/2024-0028\/2024-0028.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/AMENDING\/2024\/2024-0028\/2024-0028.pdf","content_md5":"19c0824092e22dc0312f9d9c5aa5c125","byte_size":"430919","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.180155+00"},{"file_id":"4086","expr_id":"2043","kind":"working_pdf","filename":"2024-0028.pdf","source_url":"\/cms\/images\/LEGISLATION\/AMENDING\/2024\/2024-0028\/2024-0028.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/AMENDING\/2024\/2024-0028\/2024-0028.pdf","content_md5":"19c0824092e22dc0312f9d9c5aa5c125","byte_size":"430919","http_last_modified":null,"fetched_at":"2026-06-16 04:01:11.180155+00"}],"paragraph_count":11,"latest_history":{"history_id":"270076","change_type":"UPDATE","changed_at":"2026-07-18 00:00:00+00","change_source":"MIGRATION_027","change_reason":"CMS-id-collision audit 2026-07-18: title corrected from the document's own PDF and\/or the (law_type, cms_id)-keyed official legislation.gov.ky listing."}},"quality":{"expr_id":"2043","doc_id":"2043","quality_state":"needs_review","quality_score":"72","needs_human_review":"t","deterministic_categories":"{commencement_metadata_problem,duplicate_text,page_header_footer_noise}","llm_categories":"{}","repair_actions":"{collapse_duplicate_text,strip_page_furniture,verify_commencement_metadata}","finding_severity_counts":"{\"low\": 1, \"medium\": 2}","finding_summary":"repeated line furniture detected: sl 28 of 2024 x6; 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