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As Singapore progressed, an increasingly complex banking and monetary environment required more dynamic and coherent monetary administration. Therefore, in 1970, the Parliament of Singapore passed the Monetary Authority of Singapore Act leading to the formation of MAS on 1 January 1971. The act gives MAS the authority to regulate all elements ...
Merchant Shipping (Civil Liability and Compensation for Oil Pollution) Act; Post Office Savings Bank of Singapore (Transfer of Undertakings and Dissolution) Act; Princess Elizabeth Fund (Repeal) Act 1998; Trade Marks Act 1998
Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.
The Payment Services Act 2019 (PS Act) is a statute of the Parliament of Singapore that provides a framework for the regulation of payment systems and payment service providers in Singapore. [1] According to the Monetary Authority of Singapore (MAS) the PS Act provides for regulatory certainty and consumer safeguards, while encouraging ...
The Act provided for a drawing on the Past Reserves of a sum not exceeding S$28,312,615,600 [17] (S$49,312,215,600 in total after including the "Resilience" and "Solidarity" Budgets) to alleviate the adverse economic effects caused by the 2020-21 Singapore circuit breaker measures during the COVID-19 pandemic in Singapore.
Statutes of the Singapore Parliament, as well as English statutes in force in Singapore by virtue of the Application of English Law Act 1993, [4] are published in looseleaf form in a series called the Statutes of the Republic of Singapore, which is gathered in red binders, and are also accessible on-line from Singapore Statutes Online, a free ...
Therefore, the Parliament of Singapore passed the Monetary Authority of Singapore Act in 1970, leading to the formation of MAS on 1 January 1971. The MAS Act gave the MAS the authority to regulate all elements of monetary, banking, and financial aspects of Singapore.
Post Office Savings Bank (POSB), acquired by DBS Bank on 16 November 1998. Singapore Broadcasting Authority (SBA), formed on 1 October 1994, merged into Media Development Authority on 1 January 2003. Singapore Broadcasting Corporation (SBC) corporatised as the Television Corporation of Singapore on 1 October 1994