Monetary Authority of Singapore Act

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The Monetary Authority of Singapore Act is the act that led to the formation of the Monetary Authority of Singapore (MAS). The MAS Act, which was passed in 1970, gives MAS the authority to regulate all elements of monetary, banking and financial aspects of Singapore.[1]

In 2007, Singapore Parliament approved an amendment to the Monetary Authority of Singapore Act to consolidate the MAS’ powers under the various acts it administers and enhance the deterrents against money laundering and terrorist financing in the financial sector.[2]

Resources

Monetary Authority Of Singapore Act

References

  1. Introduction to MAS. MAS.
  2. Second Reading Speech On The Monetary Authority of Singapore (Amendment No. 2) Bill 2007. WW.Legal.com.