News

HH Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and Industry, UAE, swore in Mr. Michael Hwang SC as the Deputy Chief Justice of the Dubai International Financial Centre Court on October 23rd, 2005, at the Ruler's Court.

As part of an ongoing and holistic security review by the Government to boost Singapore's security, the Ministry of Home Affairs (MHA), in collaboration with the Infocomm Development Authority of Singapore (IDA), have worked together with mobile service providers on a practical regulatory regime over prepaid SIM¹ cards.

The MAS has issued revised REIT Guidelines. A key change is the lifting of the borrowing limit to 60 percent from 35 percent, so long as the REIT obtains and discloses its credit rating.

In a press release, MAS advised financial institutions to update their list of individuals and entities belonging to or associated with the Taliban and the Al-Qaida organisation (the 1267 List) as required under the Monetary Authority of Singapore (Anti-Terrorism Measures) Regulations 2002.

Google stopped using the Gmail name in the United Kingdom on 19 October 2005, temporarily ending a trademark dispute. The Gmail service there is now known as Googlemail.

The Law Society of England & Wales, in its reaction to the UK Government White Paper of 17 October 2005, welcomes plans for the implementation of the Clementi reforms to enable new forms of legal practice and external investment in law firms.

The Bill proposes to amend the Public Transport Council Act in the following key areas: (i) Introduce a bus service operator licensing regime; (ii) Introduce a regulatory regime for ticket payment services; (iii) Enhance the Council's regulatory power to effect fare adjustments; and (iv) Introduce a penalty to deter fare evasion.

The Singapore Government has today opened the Casino Control Bill for public consultation. The draft Bill, an overview document, background information on the Integrated Resorts project and various speeches can be found at www.feedback.gov.sg .

The Public Transport Council (PTC) welcomes the passing of the PTC (Amendment) Bill in Parliament today. The enhanced powers will enable the PTC to better regulate bus services and bus/train fares, and to regulate ticket payment services.

The draft Casino Control Bill will be released for public consultation via the Feedback Unit Government Consultation Portal ( www.feedback.gov.sg ) from Monday, 17 October 2005.

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