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The Government announced today the immediate withdrawal of the Deferred Payment Scheme (DPS) for property purchases in view of the strong economic and property market conditions.

From 1 November 2007 onwards, persons who move into or out of Singapore physical currency [1] or bearer negotiable instruments [2] (CBNI) the total value of which exceeds SGD 30,000 (or its equivalent in a foreign currency) will be required to give a report by filling up a form and submitting it to the authorities.

The text of the Second Reading Speech for the Terrorism (Suppression of Bombings) Bill 2007 by DPM and Minister for Home Affairs Mr Wong Kan Seng, 23 October 2007 is below.

Police would like to alert the public of a phone scam where callers impersonate themselves as police officers or staff from the Supreme Court. The impersonators would direct them to attend court or request for transfer of monies and attempt to induce their victims into parting with money, presumably to exonerate them from involvement in criminal cases or for failure to attend court hearings. In reality, the victims were not involved in any such criminal or court proceedings.

A new law to regulate secondhand goods dealers, which is known as the Secondhand Goods Dealers Act (SHGDA) will come into effect on 1 Dec 2007 . With the introduction of this new law, the existing Secondhand Dealers Act, Cap 288, will be repealed on the same date.

Lawyers and judges from 120 countries were in Singapore Monday, 14 Oct 2007, for the International Bar Association (IBA) annual conference. With 4,000 participants, the conference is the largest in the IBA's 60-year history.

Justice Choo Han Teck on 11 October 2007 ruled that the Strata Title Board (STB) cannot dismiss the sale application by the sellers of Horizon Towers because of technical errors in the application.

The Monetary Authority of Singapore (MAS) has released a policy consultation paper on proposed amendments to the Securities and Futures Act (SFA) and the Financial Advisers Act (FAA). This is the third in a series of policy consultations MAS is conducting following a review of the SFA and FAA that commenced in 2006.

The Health Sciences Authority (HSA) will be implementing the regulation of medical devices in phases from 1 Nov 2007. Medical devices are the first category of health products to be regulated under the Health Products Act.

The Ministry of Finance (MOF) has accepted most of the suggestions on the Income Tax (Amendment) Bill 2007 that were received during the public consultation exercise held from 15 June to 14 July 2007. A total of 29 comments were received, most of the feedback being from professional bodies and companies. All the suggestions received were constructive and were each considered carefully by MOF. Of these, 21 suggestions were accepted and have been incorporated into the final draft Bill.

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