MAS: Annual report 2006 / 2007
CONTENTS
HOME
 
ENTERPRISE: Our Role
BUILDING ON A ROBUST MACROECONOMIC ENVIRONMENT
DEVELOPMENTS IN THE SINGAPORE SECURITIES MARKET
FOSTERING A SOUND & REPUTABLE FINANCIAL CENTRE
RISK MANAGEMENT & INFRASTRUCTURE
GROWING SINGAPORE AS AN INTERNATIONALLY COMPETITIVE FINANCIAL CENTRE
CURRENCY
ORGANISATIONAL INITIATIVES
ORGANISATIONAL INITIATIVES 41
Risk-based Audit Approach 41
Front, Middle and Back Office System 41
Development of Key IT Systems to Support Organisational Initiatives 41
Streamlining of Logistics and Administrative Processes 41
Maintaining an Optimal Physical Working Environment for All 41
Ensuring the Efficient Use of Energy Resources 41
Box 10 - Second Phase of Amendments to MAS Act 41
 
Box 10

SECOND PHASE OF AMENDMENTS TO MAS ACT
The review of the MAS Act has been completed. The review, conducted in two phases, was to enable us to meet the operational challenges ahead and to carry out our functions more effectively. The first phase amendments came into effect in January 2004. The second phase of amendments to the MAS Act was passed in Parliament on 12 February 2007. The key amendments seek to improve MAS’ accountability and governance, streamline our operations and revise the scope of MAS’ powers.