Parliament introduces Banking (Amendment) Bill 2006: Strengthening prudential safeguards and greater operational flexibility for banks

Francis Mok and Prawiro Widjaja of Allen & Gledhill

On 8 November 2006, the Banking (Amendment) Bill (the “Bill”) was introduced in Parliament following a public consultation on the draft version of the Bill in July/August 2006. An article on the public consultation conducted by the Monetary Authority of Singapore (the “MAS”) on the draft version of the Bill was featured in a previous issue of the Allen & Gledhill Legal Bulletin (August 2006).