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Bill to amend Goods and Services Tax Act tabled to extend GST to overseas services

On 1 Oct 2018, the Goods and Services Tax (Amendment) Bill was tabled in Parliament for first reading. 

Tags: Tax

Stamp Duties Act amended from 4 October 2018 to levy stamp duty on electronic records

Other changes include recovering interest from taxpayer who fails to comply with remission conditions; relief from stamp duty for corporate restructuring…

Tags: Tax

Developers (Anti-Money Laundering and Terrorism Financing) Bill tabled to implement AML/CFT measures on developers

The Bill seeks to amend the Housing Developers (Control and Licensing) Act and the Sale of Commercial Properties Act to give effect to some recommendations of the FATF regarding AML/CFT.

Significant amendments to the Securities and Futures Act (Cap. 289) take effect – what are the implications for your business?

The SF(A)A introduces changes to rules in connection with licensing, prospectus requirements, conduct of business and market misconduct.

Journals Online: 2018 Changes to the Evidence Act and Criminal Procedure Code: The Criminal Justice Reform Bill and Evidence (Amendment) Bill [Comment]

This comment briefly analyses some of the most substantive changes brought about by the 2018 amendments.

Journals Online: Enforcing Town Councils’ duties of financial prudence: Problems addressed by the Town Councils (Amendment) Act 2017

This article discusses the means by which a Town Council’s statutory duties, particularly its duties of financial prudence, may be enforced. 

MAS publishes response to feedback received on draft Securities and Futures Regulations - Part 3

In this update, we will consider certain aspects of the second MAS Response in relation to the 2018 Prospectus Regulations.

MAS publishes response to feedback received on draft Securities and Futures Regulations - Part 2

As the 2nd MAS Response is fairly wide ranging, this update will focus on certain sections relating to the SFLCBR.

MinLaw conducts public consultation on recommendations for reform of Penal Code: Key changes impacting corporations

The PCRC introduces new types of offences to tackle crimes facilitated by technological developments, emerging crime trends, and crimes against vulnerable victims.

IPOS consults on proposed Geographical Indications Rules

The GI Rules will be issued under the Geographical Indications Act 2014 to govern the operational aspects of a new Registry of Geographical Indications.

Provisions in Mental Capacity Act on professional donees and professional deputies in force from 1 September 2018

The Act provides for criteria for the position of professional deputies, including providing that all professional deputies must be registered with the Public Guardian.

Bills to amend Electricity Act and Gas Act introduced in Parliament

This update provides a summary of the key amendments to the Bills, which were introduced in Parliement on 10 Sep 18.

Cybersecurity Act 2018 operative from 31 August 2018 to protect critical information infrastructure against cybersecurity threats

The Act also provides for the regulation of providers of licensable cybersecurity services.

Bill to amend Building and Construction Industry Security of Payment Act introduced to enhance fast and low-cost dispute resolution mechanism

The Bill seeks to improve the administration of the Building and Construction Industry Security of Payment Act (“SOPA”) and proceedings under the SOPA.

MAS publishes response to feedback received on Draft Securities and Futures Regulations

This update will consider the new Securities and Futures (Organised Markets) Regulations 2018 and Securities and Futures (Financial Benchmarks) Regulations 2018.

A wave of changes to employment laws in Singapore – Employment Act extended to all employees

On 2 Oct 18, Parliament introduced the Employment (Amendment) Bill. This Update provides a high level summary of the proposed changes to the Act.

Note on the VCC: A game-changer for Singapore’s funds industry

This Note by the Second Minister for Finance, Indranee Rajah S.C., summarises how the VCC framework will benefit the Singapore asset management industry, as well as local service providers.

Tags: Funds

Enhancing the existing insolvency legal framework – Ipso facto clauses

This short note seeks to focus on the potential impact of the new Omnibus Bill on ipso facto clauses which are commonly found in many commercial contracts.

Vic is coming to town – The Singapore Variable Capital Companies Framework

The VCC is an entirely new legal structure that provides an attractive alternative to existing fund or collective investment scheme structures.

Tags: Funds

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.

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