Payment Services Bill

Debated in Parliament on 19 Nov 2018.

Summary written by AI (learn more)

The Payment Services Bill aims to provide a licensing framework for payment service providers and regulate payment systems, replacing the outdated Money-changing and Remittance Businesses Act and the Payment Systems (Oversight) Act.
The bill was presented by Minister for Education Mr Ong Ye Kung and is scheduled for a second reading in the next parliamentary sitting, with provisions for consequential amendments to other Acts.
The debate focuses on modernizing payment regulations to address evolving financial technologies and ensure a robust oversight mechanism.

Questions identified by AI (learn more)

No questions identified

This could be because the debate type doesn't typically include questions, or it hasn't been processed yet.

Full Transcript

"to provide for the licensing and regulation of payment service providers, the oversight of payment systems, and connected matters, to repeal the Money-changing and Remittance Businesses Act (Chapter 187 of the 2008 Revised Edition) and the Payment Systems (Oversight) Act (Chapter 222A of the 2007 Revised Edition), and to make consequential and related amendments to certain other Acts",

presented by the Minister for Education (Mr Ong Ye Kung) read the First time; to be read a Second time on the next available Sitting of Parliament, and to be printed.

Summary written by AI (learn more)

The Payment Services Bill aims to provide a licensing framework for payment service providers and regulate payment systems, replacing the outdated Money-changing and Remittance Businesses Act and the Payment Systems (Oversight) Act.
The bill was presented by Minister for Education Mr Ong Ye Kung and is scheduled for a second reading in the next parliamentary sitting, with provisions for consequential amendments to other Acts.
The debate focuses on modernizing payment regulations to address evolving financial technologies and ensure a robust oversight mechanism.

Questions identified by AI (learn more)

No questions identified

This could be because the debate type doesn't typically include questions, or it hasn't been processed yet.

Payment Services Bill | PAPERCUTS

Payment Services Bill

Debated in Parliament on 19 Nov 2018.

Summary written by AI (learn more)

The Payment Services Bill aims to provide a licensing framework for payment service providers and regulate payment systems, replacing the outdated Money-changing and Remittance Businesses Act and the Payment Systems (Oversight) Act.
The bill was presented by Minister for Education Mr Ong Ye Kung and is scheduled for a second reading in the next parliamentary sitting, with provisions for consequential amendments to other Acts.
The debate focuses on modernizing payment regulations to address evolving financial technologies and ensure a robust oversight mechanism.

Questions identified by AI (learn more)

No questions identified

This could be because the debate type doesn't typically include questions, or it hasn't been processed yet.

Full Transcript

presented by the Minister for Education (Mr Ong Ye Kung) read the First time; to be read a Second time on the next available Sitting of Parliament, and to be printed.

Summary written by AI (learn more)

The Payment Services Bill aims to provide a licensing framework for payment service providers and regulate payment systems, replacing the outdated Money-changing and Remittance Businesses Act and the Payment Systems (Oversight) Act.
The bill was presented by Minister for Education Mr Ong Ye Kung and is scheduled for a second reading in the next parliamentary sitting, with provisions for consequential amendments to other Acts.
The debate focuses on modernizing payment regulations to address evolving financial technologies and ensure a robust oversight mechanism.

Questions identified by AI (learn more)

No questions identified

This could be because the debate type doesn't typically include questions, or it hasn't been processed yet.

Payment Services Bill

Summary

Questions Identified

Full Transcript

Summary

Questions Identified

Payment Services Bill

Summary

Questions Identified

Full Transcript

Summary

Questions Identified