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The Monetary Authority of Singapore (MAS) announced today that the Securities and Futures (Amendment) Act 2005 (SF(A)A) and the Financial Advisers (Amendment) Act 2005 (FA(A)A) will take effect on 1 July 2005.

The Ministry of Health (MOH) plans to revise its current policy on acupuncture and would like to invite the views and feedback of the public, the medical community and the traditional Chinese medicine (TCM) community on this proposal.

The Ministry of Finance invites members of the public to give their comments on proposed amendments to the Goods and Services Tax Act (GSTA) and the Stamp Duties Act (SDA).

The Prime Minister, Lee Hsien Loong, issued Revised Guidelines on MPs’ Involvement in Business. These covered MPs’ acceptance of directorships, rules for keeping business and politics separate, and requirements for reporting to the Party Whip details on directorships and fees received. They will help MPs who participate in business and take up company directorships to continue to conduct themselves appropriately.

Indian Prime Minister Manmohan Singh and Prime Minister Lee Hsien Loong today signed the India-Singapore Comprehensive Economic Cooperation Agreement (CECA). This landmark agreement is India?s first ever CECA and is also the first comprehensive economic pact between Singapore and a South Asian country.

Singapore and India will be signing an Agreement concerning Mutual Legal Assistance in Criminal Matters in New Delhi today.

The US Supreme Court on 27 June 2005 ruled in MGM v Grokster that someone who distributes a device with the intention of promoting its use to infringe copyright, is liable for the infringing acts of third parties using the device.

The Inland Revenue Authority of Singapore (IRAS) recently conducted a stamp duty audit on a few commercial buildings. In one building, it found that close to 9% of all the Lease Agreements were not duly stamped, as required under the Stamp Duty law. The tenants have since been asked to pay the stamp duties as well as the penalties imposed. The maximum penalty is four times the amount of duty.

Opening Address by Mr Shane Tregillis, Deputy Managing Director (Market Conduct), MAS, at the Real Estate Investment World Asia 2005, 4th Annual Conference, The Grand Hyatt, Singapore, 27th June 2005.

With effect from 24 June 2005, insolvent persons filing their Income & Expenditure statements will be required to login into the e-service via the IPTO portal using their Singpass. For users who do not have a Singpass, please liaise with the CPF Board or you may visit their website at www.cpf.gov.sg .

For insolvent persons who are foreigners and do not qualify for a Singpass, please contact us at mlaw_ipto_efiling@mlaw.gov.sg so that a Password can be issued to you. This Password will enable you to use our e-Services.

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