Singapore Law Blog :: A Blog About Legal News And Events In Singapore

MAS Explanatory Brief: Securities And Futures (Amendment) Bill And Financial Advisers (Amendment) Bill

The MAS issued an Explanatory Brief on two Bills intended to be passed in Parliament: The Securities and Futures (Amendment) Bill and The Financial Advisers (Amendment) Bill.

Public Consultation on Admiralty Jurisdiction

The Law Reform and Revision Division seeks views from the public on a proposed amendment to the High Court (Admiralty Jurisdiction) Act. The proposed reform will allow the arrest of ships on demise charter to secure the obligations of the demise charterer. More information can be found here.

Singapore-Australia Free Trade Agreement (SAFTA) In Force

Singapore-Australia Free Trade Agreement (SAFTA) was signed on 17 February 2003 and came into force on 28 July 2003.

MITA Consultation on Consumer Protection (Fair Trading) Bill

Ministry of Trade and Industry (MTI) has today released a second consultation paper seeking feedback from the public on a number of changes to the draft Consumer Protection (Fair Trading) Bill. Further information can be found www.mti.gov.sg.

Double Taxation Agreement Between Kuwait And Singapore

An Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income was signed on the 21st February 2002 between the Republic of Singapore and the State of Kuwait. This Agreement enters into force on 2 July 2003 following the completion of ratification formalities. The Agreement is found here.

In Principle Agreement Between SIA and ALPA-S

SIA and ALPA-S have signed an In-principle Agreement on terms related to wage cuts, no-pay leave and compensation payment, after further mediation by the Ministry of Manpower (MOM).

Public Consultation on Limited Partnerships and Limited Liability Partnerships

The Ministry of Finance set up the Study Team on Limited Partnerships ("LPs") and Limited Liability Partnerships ("LLPs") in November 2002, to work out the details of the legal framework governing LPs and LLPs.

MAS Guidelines to Critical Year Issue

Policyholders' Guide to Insurance Policies with Critical Year feature issued by the Monetary Authority of Singapore is found here.

Singapore Land Registry - Electronic Filing Pilot Phase

The Land Titles (Amendment) Act, Land Titles (Amendment) Rules 2003 and Land Titles (Electronic Lodgment) Rules 2003 came into effect on 9 June 2003. The legislative changes provide the legal framework for electronic lodgement of documents while other amendments clarify the law and simplify some procedures.

Statistics on Marriages & Divorces 2002

The Statistics Department of Singapore has released information on recent marriage and divorce trends and the profile of grooms, brides and divorcees. Key Indicators can be found here.

US-Singapore Free Trade Agreement (USSFTA) Signed

The US-Singapore Free Trade Agreement (USSFTA) was signed by Prime Minister Goh Chok Tong and President George W. Bush on 6 May 2003 in Washington DC.

MAS Seeks Public Comment on Amendments to Securities and Futures Act and Financial Advisers Act

The Monetary Authority of Singapore (MAS) invites public comment on two consultation papers released today (23 April 2003) on proposed amendments to the Securities and Futures Act (SFA) and the Financial Advisers Act (FAA) respectively. The amendments are targeted for first reading in Parliament during the second half of 2003.

MAS Releases Consultation Paper on Payment Systems Oversight Act

The Monetary Authority of Singapore (MAS) today (16 April 2003) released a Consultation Paper on the proposed Payment Systems Oversight Act and invites comments from the public.

MAS Refines Property Fund Guidelines, Gearing Level Raised To 35%

The Monetary Authority of Singapore (MAS) today (28 March 2003) issued revised Property Fund Guidelines to give property funds more flexibility in managing their capital structure and to enhance risk disclosure in the prospectuses of such funds.

Asian Law Institute Inaugurated In Singapore

The Asian Law Institute (ASLI) was established on 21 March 2003 by a group of leading law schools in Asia . Its goal is to facilitate academic exchanges as well as research and teaching collaboration among colleagues from the twelve founding institutions.

MAS issues consultation papers as part of SFA and FAA and extends grace period to industry on implementation of two init

The Monetary Authority of Singapore (MAS) today (20 March 2003) released a number of initiatives as part of its ongoing implementation of the Financial Advisers Act (FAA) and Securities and Futures Act (SFA). This includes the release of three consultation papers and the extension in the grace period for implementation of two initiatives.

Remarks By the Senior Minister of State for Law, Associate Professor Ho Peng Kee, during the Committee of Supply Debate

The following is an extract from the remarks made in Parliament by Senior Minister of State for Law, Associate Professor Ho Peng Kee, during the Committee of Supply Debate 2003 (Ministry of Law), on Thursday, 13 March 2003.

Remarks By the Minister for Law, Professor S Jayakumar, during the Committee of Supply Debate 2003 (Ministry of Law)

The following are the remarks made in Parliament by the Minister for Law, Professor S Jayakumar, during the Committee of Supply Debate 2003 (Ministry of Law) on Thursday, 13 March 2003.

MAS Invites Public Comment On Proposed Corporate Governance Framework

The Monetary Authority of Singapore (MAS) today (24 February 2003) issued a consultation paper on a set of proposed guidelines and regulations to enhance the existing corporate governance framework for locally incorporated banks and direct insurers. The paper consists of two parts: (i) a set of guidelines on the principles of corporate governance and disclosure, and (ii) regulations on corporate governance.

Signing of the Singapore-Australia Free Trade Agreement

The Singapore-Australia Free Trade Agreement was signed on 17 February 2003 in Singapore between the Minister for Trade, Australia, Mark Vaile and the Minister for Trade and Industry, Singapore, George Yeo.

Launch of the IP Academy

The Intellectual Property Academy (IP Academy) was launched on 23 January 2003 by Associate Professor Ho Peng Kee, Senior Minister of State for Law and Home Affairs. The IP Academy will be the focal point for IP education and training in Singapore. As knowledge and innovation become key factors boosting economic progress, the value of IP will become increasingly critical. This launch represents a milestone achievement in Singapore’s development into an IP hub.

MAS Lifts Car Loan Guidelines

The Monetary Authority of Singapore (MAS) announced that from today (22 January 2003), it will be lifting its 1995 car loan guidelines which restricted the maximum financing for the purchase of a car to 70% of its purchase price, including the price of its Certificate of Entitlement (COE), to be repaid over a period of not more than seven years.

MAS Releases Consultation Paper On Proposed Business Continuity Planning (BCP) Guidelines

The Monetary Authority of Singapore (MAS) today (10 January 2003) issued a consultation paper on proposed principles for Business Continuity Planning (BCP) and invites comment from financial sector participants and interested parties.

Media Development Authority (MDA) Formed

The MDA was formed by the merger of the Singapore Broadcasting Authority, the Films and Publications Department, and the Singapore Film Commission (SFC), on 1 Jan 2003. The setting up of MDA is in response to the convergence of different media that requires a consistent approach in developing and managing the different forms of media.

Capitamall Trust Singapore's First REIT IPO

Capitamall Trust (CMT) is Singapore's first Real Estate Investment Trust (REIT) which IPOed in Juny 2002.

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