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Singapore's Law Society said on 8th January 2005 that it is ready to extend legal aid for tsunami victims.

The legal aid will extend regionally, in the form of advice to neighbouring countries, where needed, on how to help victims with legal remedies.

And domestically on solving the death certificate issue - something next-of-kin would need in order to claim insurance or seek probate.

Following the phased implementation of the Electronic Filing System (EFS) commencing in 2000, the Honourable the Chief Justice set up an EFS Review Committee to conduct a review of the EFS in 2003. One of the key tasks of the Committee is to devise a holistic approach to integrate the use of technology in the litigation process, harnessing the benefit of experience gained through the implementation of the EFS since 2000.

ISSUANCE OF THE BUSINESS TRUSTS REGULATIONS AND THE SECURITIES AND FUTURES (OFFERS OF INVESTMENTS) (BUSINESS TRUSTS) REGULATIONS 2005

Singapore, 6 January 2005... The Monetary Authority of Singapore ("MAS") today issued the Business Trusts Regulations and the Securities and Futures (Offers of Investments) (Business Trusts) Regulations 2005 (collectively referred to as "the Regulations").

2. With the issuance of the Regulations, MAS will begin accepting applications for the registration of business trusts with immediate effect.

A U.S. law firm had on 5th January 2005 filed a class action lawsuit against China Aviation Oil (Singapore) Corp Limited ("CAO") in New York, alleging CAO had issued false and misleading statements regarding its business and prospects.

It was reported at Cnet|Asia that Fujitsu-Siemens has been ordered by a German court to pay a levy every time one of its computers is sold in the country, as part of a "tax on piracy."

The full article is found at Cnet|Asia's Website.

The Monetary Authority of Singapore (MAS) is revising the Notice on Prevention of Money Laundering and has released a consultation paper on the proposed revisions.

In a further effort to enhance port security, the Maritime and Port Authority of Singapore (MPA) has introduced a licensing scheme for regional ferry operators.

A new statutory board, the Competition Commission of Singapore (CCS), will be set up on 1 January 2005, under the Ministry of Trade and Industry, to administer and enforce the Competition Act 2004.

Singapore and Hong Kong have agreed not to double tax income from from operating ships or aircraft in international traffic. Its provisions shall have effect in Singapore in respect of Singapore tax from the Year of Assessment 2006.

Singapore online debit service iQB shut down on 21 December 2004. Parent company Green Dot Internet Services which acquired iQB in June discontinued the service due to low volume. Industry watchers noted that iQB could not compete with market leader eNETS. The exit of iQB leaves eNETS as the sole provider of online debit services in Singapore.

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