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In constitutional terms, the Past Reserves as a legal term refers to such reserves as existed before the sitting government came into office (the most recent handover being 15 May 2024). The president's discretion to withhold access to the Past Reserves is intended as a "second key" [3] [4] to ensure financial stability and restrain waste of ...
Spandeck Engineering v Defence Science and Technology Agency [2007] SGCA 37 was a landmark decision in Singapore law. [1] [2] It established a new framework for establishing a duty of care, differentiating the Singaporean law of tort from past English common law precedent such as Caparo v Dickman and Anns v Merton, whilst also allowing for claims in pure economic loss, which are generally not ...
The Singapore system of government, as with those of a number of other Commonwealth jurisdictions, exhibits a partial separation of powers. The ministers of the Cabinet, who govern the executive branch of government, are appointed from the Members of Parliament (MPs). The cabinet both comes from and drives the parliament's legislative agenda.
The cabinet in Singapore collectively decides the government's policies and has influence over lawmaking by introducing bills. Ministers in Singapore are the highest paid politicians in the world, receiving a 60% salary raise in 2007 and as a result Prime Minister Lee Hsien Loong's pay jumped to S$3.1 million, five times the US$400,000 earned ...
GIC Private Limited is a Singaporean sovereign wealth fund that manages the country's foreign reserves.Established by the Government of Singapore in 1981 as the Government of Singapore Investment Corporation, from which the acronym "GIC" is derived, its mission is to preserve and enhance the international purchasing power of the reserves, with the aim to achieve good long-term returns above ...
Singapore is a country known for its highly efficient and centralised government system largely due to these statutory boards. [2] They play a significant role in the development and implementation of policies and programs in various sectors of the country.
Singapore's debts are under the responsibility of MAS. As of 2022, the Singapore Government debt exceeds the country's GDP at about 150%. However, these are not net debts, but gross external debts, which can be traced to the debt liabilities in Singapore's banking sector—a reflection of the country's stature as a major global financial hub.
The Singapore High Court stated in Lines International Holding (S) Pte. Ltd. v. Singapore Tourist Promotion Board (1997) [89] that the adoption of a general policy by a body exercising an administrative discretion is perfectly valid provided the following conditions are satisfied: [90]