Future development will depend on market reaction

| 11/12/2013

(CNS Business): How the real estate and property development markets react and adapt to the new conservation law when it is implemented will dictate the future of development in the Cayman Islands, not the bill itself, local lawyers have said. In a statement released on Wednesday morning, as legislators began debating the bill in the parliament, the Cayman Bar Association  (CBA) issued a report on the law which pointed out the need for the legislation as a result of government’s legal obligations under the constitution. In their review of the law, the CBA said it did not threaten property rights and the council was not all powerful. Like any other legislation, it is not perfect, they said, but the legislative process of refinement and revision will apply equally in the case of this bill, as any other. Read more on CNS Business

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