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Section 31 of the Banking Act restricts a bank’s equity investment in any single company to 2% of its capital funds, and is intended to limit concentration risks in the banks’ equity portfolio investments. MAS Notice 625 further applies this restriction on a consolidated basis to a bank group. MAS is proposing to exempt from Section 31 of the Banking Act, shares acquired by a bank or a bank group during the course of price stabilization activities carried out in the role of a lead manager of equity issues, provided certain prudential safeguards are met.

From 1 May 2008, all suppliers billing the Government will need to submit their invoices electronically. The e-Invoice system is another initiative of the Integrated Government 2010 (iGov2010) Masterplan which seeks to extend the reach and quality of Government e-services.

The International Court of Justice will deliver its judgement in the case concerning Sovereignty over Pedra Branca/Pulau Batu Puteh, Middle Rocks and South Ledge (Malaysia/Singapore) on 23 May 2008. A public sitting will take place at 10am at the Peace Palace in The Hague (Netherlands), during which the Acting President of the Court, Judge Awn Shawkat Al-Khasawneh, will deliver the Court's judgement.

On Friday 23 May 2008, the International Court of Justice (ICJ), principal judicial organ of the United Nations, will deliver its Judgment in the case concerning Sovereignty over Pedra Branca/Pulau Batu Puteh, Middle Rocks and South Ledge (Malaysia/Singapore).

The Ministry of Health has formulated its draft regulatory regime pertaining to liposuction. In the proposal, MOH will regulate liposuction as a special care service under the Private Hospitals and Medical Clinics Act. Any clinic that offers liposuction must obtain prior approval from the Ministry and comply with specific licensing conditions. MOH will be gathering feedback on the proposed regulatory regime for liposuction. The feedback and views gathered will be used to determine the final licensing conditions.

Come 13 June, Singapore’s mobile subscribers will enjoy Full Mobile Number Portability, and with this, greater benefits in terms of flexibility and choice of subscription plans as competition among mobile operators is expected to intensify. Currently, Singapore’s mobile subscription stands at more than 5.8 million.

ASEAN and Japan have completed the signing of the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) Agreement.

Following the recommendations of an inter-agency team on the review of the regulation of co-operatives (co-ops), the Registrar of Co-operative Societies (RCS) will be conducting a public consultation on the draft Co-operative Societies (Amendment) Bill. The draft Bill aims to help the co-op sector further raise its level of accountability and governance, as well as to set the framework for a more risk-focused co-op regulatory regime. The last major amendment to co-op legislation was in 1980.

Gamers in Singapore can look forward to a greater variety of video games with a new two-rating classification system that will be launched end April, the Board of Film Censors (BFC) under the Media Development Authority (MDA) announced today. In line with the new guidelines, consumer advisories will be introduced to allow consumers, especially parents, to make informed choices about the video games available in the market.

Mr Foo Chee Hock has been appointed as the Acting Registrar, Supreme Court with effect from 11 April 2008.

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