Feedback Sought on the proposed amendments to the Trustees Act
The Ministry of Law and the Monetary Authority of Singapore had embarked on a major review of the Singapore Trustees Act in 2003.
The aim of the review was to propose changes that will modernise the Act to be in tune with trust developments in the commercial world. An updated Trustees Act will enhance Singapore's positioning as a leading financial and private wealth management centre.
After a round of industry consultation in 2003, a draft Trustees (Amendment) Bill 2004 has been prepared and released for comments. A copy of the draft Bill and a comparative table are attached.
A copy of the draft Bill and a comparative table are attached. Visit the following links for the Draft Trustees (Amendment) Bill 2004, and the Comparative Table of Provisions can be found at feedback.gov.sg.
All submissions should be made on or before 12 noon, 30 June 2004.
The aim of the review was to propose changes that will modernise the Act to be in tune with trust developments in the commercial world. An updated Trustees Act will enhance Singapore's positioning as a leading financial and private wealth management centre.
After a round of industry consultation in 2003, a draft Trustees (Amendment) Bill 2004 has been prepared and released for comments. A copy of the draft Bill and a comparative table are attached.
A copy of the draft Bill and a comparative table are attached. Visit the following links for the Draft Trustees (Amendment) Bill 2004, and the Comparative Table of Provisions can be found at feedback.gov.sg.
All submissions should be made on or before 12 noon, 30 June 2004.
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