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Ministry of Law consults on proposed anti-money laundering regime for dealers in precious stones and precious metals

Under the new regime, PSMDs will be required to, among other things, put in place internal policies, procedures and controls and register with MinLaw.

Stamp Duties (Amendment) Bill introduced in Parliament: Application of Stamp Duties Act to electronic records

The Bill was introduced for first reading in Parliament on 6 Aug 2018, which seeks to apply the Act to an electronic record that wholly or partly effects a transaction or evidences a matter.

Tags: Tax

Bill introduced to consolidate and update insolvency and bankruptcy laws

In this Update, we take a look at the key elements of the Bill and the implications of the upcoming changes.

Journals Online: Creditor schemes of arrangement and dissenting creditor protection

This article looks at three of the legislative changes to scheme of arrangement provisions in the debt restructuring regime in Singapore, namely, the headcount test, cram-downs and pre-packs.

Changes to SFA and FAA regulations relating to capital markets products, product highlights sheets, fair and balanced advertisements and overseas investors exemption

In Sep and Oct 2013, MAS consulted on draft versions of the regulations to support the amendments to the SFA. On 8 Jun 18, MAS released its response to the feedback received from the consultation.

MOF seeks feedback on proposed changes to Goods and Services Tax Act: Introducing GST on imported services

Some of the changes include a Reverse Charge mechanism for B2B imported services, Overseas Vendor Registration mode for B2C imported services and enhancing whole-of-government law enforcement.

Parliament passes Vulnerable Adults Bill

The Bill was passed in Parliament on 18 May 2018. This article summarises the main features of the Bill in MSF Minister Desmond Lee's Opening Speech at the 2nd reading of the Bill.

Small Claims Tribunals (Amendment) Bill passed in Parliament: Expanding jurisdiction of the tribunals

The Bill was introduced in Parliament on 17 May 2018. This article provides a summary of the key changes.

Shipowners’ liens: Business as usual, with an ocean of difference

The Companies (Amendment) Bill 2018 was passed in Parliament on 6 Aug 18, in response to the decision of Diablo Fortune Inc v Cameron Lindsay Duncan and Anor [2018] SGCA 26. This Note summarises the amendments and their significance.

MTI and EMA consult on proposed amendments to Gas Act and Electricity Act

The proposed amendments are intended to enable more effective regulation, enhance the security and reliability, protect critical infrastructure and enhance competitiveness of Singapore’s energy market.

One step forward or one step back?

This article examines the effects of the class remissions introduced by the 2018 Rules and how they interact with the amendments promulgated by the Stamp Duties (Amendment) Bill 2017.

MAS issues FAQs relating to product definitions and regulated activities under SFA and FAA pursuant to upcoming changes in the Securities and Futures (Amendment) Act 2017

The 2017 Amendment Act will, among other things, implement the regulatory regimes for market operators and market intermediaries for over-the-counter derivatives.

Payment and Settlement Systems (Finality and Netting) Act amended with effect from 6 June 2018 to improve protection of payment and settlement systems

Broadly, the amendments include enhanced insolvency protection, clarity in designation criteria and strengthening of MAS' administrative powers.

Partial commencement of changes to Monetary Authority of Singapore Act: New provisions on recovery and resolution planning in force from 5 June 2018

Among other things, the MAS Act will be amended to strengthen the powers of the MAS to resolve distressed financial institutions in an orderly manner.

MOF seeks feedback on draft Income Tax (Amendment) Bill 2018: Implementing Budget changes and other changes

Changes include enhancing and extending corporate income tax, enhancing tax deductions for IP-related costs, and enhancing IRAS' powers to powers to investigate tax crimes. The consultation closes on 11 July 18.
Tags: Tax

MinLaw proposes amendments to section 131 of Companies Act to exempt shipowner’s liens from registration requirement

The proposed amendments to section 131 of the CA came about following Duncan, Cameron Lindsay v Diablo Fortune Inc [2017] SGHC 172 (affirmed on appeal in Diablo Fortune Inc v Duncan, Cameron Lindsay [2018] SGCA 26).

Parliament introduces Intellectual Property (Border Enforcement) Bill: Enhanced border enforcement measures

The Bill was introduced in Parliament on 17 May for the first reading. It seeks to amend the IP Acts to enhance the border enforcement measures for IP rights and implement Singapore’s obligations under the proposed EUSFTA.

MOH issues its responses to feedback on public consultation on draft Healthcare Services Bill

MOH will be seeking feedback on draft versions of all the regulations with the relevant affected licensees from early 2019.

Monetary Authority of Singapore (Sanctions and Freezing of Assets of Persons - Democratic People’s Republic of Korea) Regulations 2016 amended with effect from 4 May 2018

The main amendment is the insertion of a new provision which prohibits any transaction, assistance or service relating to any vessel used to ship items procured from or by the DPRK.
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