Singapore's deposit insurance scheme was revised in 2011. This paper reviews the debate on the merits of a deposit insurance scheme, considers key features of the scheme operating in Singapore and evaluates how well it promotes the rationale of deposit insurance.

Unauthorised access to data has raised concern amongst business, citizens and legislators globally. However, different jurisdictions have taken various approaches ranging from controlling access via data protection legislation to deeming liability based on the nature of the data, such as through privacy legislation. This paper is a comparative analysis of the privacy legislation of the Philippines, Thailand and Australia through their Data Privacy Act of 2012, the Personal Data Protection Act 2019, and the Privacy Act 1988, respectively. These Acts have many provisions, and Australian states also have their own acts. The Australian federal legislation is the most developed of the three and its effectiveness can be evaluated by outcomes of investigations and enforceable undertakings issued for data breaches. In all three countries, the primary data privacy legislation is also supported by privacy-related provisions under other statues. The analysis focuses on types of data protected by privacy provisions, methods for investigating breaches and imposing penalties, and whether breaches result in administrative action, civil liability or criminal offences.

For many countries, comprehensive tax reform is a panacea for fiscal imbalances. However, structural factors do not fully account for the causation and scale of tax gaps in many countries. For some of these countries, substantial revenue leakages can be fairly easily contained by adopting simple measures to minimise information asymmetry. By leveraging on existing infrastructure, disclosures can be facilitated and incentivised without imposing an onerous burden on compliance. Some of the key developments put in place by leading advanced countries to reduce the payoffs in domestic as well as international tax avoidance and evasion are examined in detail. The article concludes that a discernible convergence in the use of similar tools and strategies to remedy information deficiency is indicative of their efficacy and trends in the tackling of tax evasion and aggressive avoidance on the current global tax reform agenda

An important trend in the world of computing is the rise of cloud technology, whereby on-demand and self-service computing resources are delivered through the internet. The 'cloud' is a disruptive technology that challenges some of the entrenched business models of the IT industry, offering important benefits such as greater flexibility, scalability and utility-based pricing. This paper explores the use of cloud technology by financial institutions and the factors that impact further adoption of cloud technology in the financial sector. Furthermore, this paper investigates how the financial regulator in Singapore, one of the most important financial jurisdictions, is tackling the risks that outsourcing to the 'cloud' involves. It is argued that a number of novel features can be found in the regulator's approach, including a balanced use of principles and rules, a diverse and multi-layered_x000D_ structure of compliance strategies, and engaging cloud service contracts as a means to maintaining regulatory oversight.

This article discusses section 33 of the Income Tax Act, Introduced by the Income Tax (Amendment) Act 1988, repealing the old section. This is the new general anti-avoidance provision. This provision empowers the Comptroller of Inland Revenue to disregard, vary, or make such adjustments and has far-reaching implications for tax-planning. The article discusses the manner in which the section may operate in the light of case-law from other jurisdictions which have similar provisions.

This article considers whether there is a jurisdiction to award damages in equity in Singapore. It argues that despite a recent case that seems to decide the contrary, it is still possible to argue that there is such a jurisdiction. But in the interests of certainty, it is suggested that there should be legislation to confirm the jurisdiction.

This article examines the charterer's contractual promise that the chartered ship will be employed between and at safe ports. The leading authority in this field of the law is the House of Lords decision of "The Evia" (No. 2) - a decision which spawned a number of problematic issues as yet unresolved by the courts.

Although there are no reported local decisions considering the effect that an assured's suicide has on a claim under his life policy, the prevailing assumption is the local position is no different from the English position prior to the Suicide Act 1961 (which resulted in suicide no longer being an offence in England). According to this approach, the claim would be barred on a contractual level because the assured cannot be the author of his own loss, and on a broader level, because the law will not allow him to benefit from his own criminal acts. This paper examines the question of whether this approach can be applied in toto in Singapore. It will be argued that the Beresford approach may not be appropriate in the local legislative framework and cultural background.

The duty to act for proper purposes is seldom applied and thus is not well-developed in Singapore. The aim of this article is to describe the development of the duty to act for proper purposes in other Commonwealth jurisdictions, and in the process, better understand when an exercise of a power by a director may be subject to review according to the duty. The argument is made that the duty is flexible, capable of application in a wide variety of situations and it is hoped the law as regards this duty has the opportunity to develop in Singapore.