{"id":245871,"date":"2021-03-20T17:19:20","date_gmt":"2021-03-20T11:49:20","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=245871"},"modified":"2021-03-22T11:42:33","modified_gmt":"2021-03-22T06:12:33","slug":"singapore-electronic-transactions-amendment-act-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/03\/20\/singapore-electronic-transactions-amendment-act-2021\/","title":{"rendered":"Singapore | Electronic Transactions (Amendment) Act 2021"},"content":{"rendered":"<p style=\"text-align: justify;\">Singapore has passed the Electronics Transactions (Amendment) Act, 2021 on 25<sup>th<\/sup> Feb, 2021 and it shall come into operation on 19<sup>th<\/sup> March, 2021, as notified. The Act amends the Electronic Transactions Act, 1998.<\/p>\n<p style=\"text-align: justify;\">The key features of the amendment are:<\/p>\n<ul>\n<li style=\"text-align: justify;\">The Act adopts the UNCITRAL Model Law on Electronic Transferable Records adopted by the United Nations Commission on International Trade Law on 13 July 2017, allowing for the use of electronic and digital versions of Transferable Instruments and reducing the reliance on and necessity of physical hard copies.<\/li>\n<li style=\"text-align: justify;\">an electronic transferable record is not to be denied legal effect, validity or enforceability solely on the ground that it is in the form of an electronic record.<\/li>\n<li style=\"text-align: justify;\">a Transferable Instrument in the form of an ETR will be legally recognized, if the relevant electronic record contains requisite information and there is a reliable method used to:<\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>Identify the electronic record as the authoritative electronic record constituting the same;<\/li>\n<li>Render the electronic record able to be subject to control from its creation until it ceases to have effect or validity; and<\/li>\n<li>Retain the integrity of the electronic record (i.e., the information contained in the record must remain complete and unaltered, other than changes in the normal course of communication, storage or display, which will not be regarded as affecting the integrity of the record).<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li style=\"text-align: justify;\">any legal requirement for the indorsement of a Transferable Instrument can be met by an ETR, if information required for the indorsement is included in the ETR in a reliable manner that is accessible so as to be usable for subsequent reference, and meets the requirements in relation to electronic signatures.<\/li>\n<li style=\"text-align: justify;\">An ETR may replace a transferable document or instrument if a reliable method for the change of medium when the following requirements are met:<\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li>all the information contained in the transferable document or instrument must be accurately reproduced in the ETR;<\/li>\n<li>a statement indicating a change of medium must be inserted in the electronic transferable record that replaces the transferable document or instrument.<\/li>\n<li style=\"text-align: justify;\">The reliable method mentioned above must be as reliable as appropriate for the fulfillment of the function for which the method is being used, in the light of all the relevant circumstances, which may include \u2014<\/li>\n<li>any operational rules that are relevant to the assessment of reliability;<\/li>\n<li>the assurance of data integrity;<\/li>\n<li>the ability to prevent unauthorised access to and use of the system;<\/li>\n<li>the security of hardware and software;<\/li>\n<li>the regularity and extent of audit by an independent body;<\/li>\n<li>the existence of a declaration by a supervisory body, an accreditation body or a voluntary scheme, regarding the reliability of the method; or<\/li>\n<li>any applicable industry standard; or<\/li>\n<li>proven in fact to have fulfilled the function by itself or together with any further evidence.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul>\n<li>An electronic transferable record is not to be denied legal effect, validity or enforceability solely on the ground that it was issued or used outside Singapore.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000080;\">*Tanvi Singh, Editorial Assistant has put this story together.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore has passed the Electronics Transactions (Amendment) Act, 2021 on 25th Feb, 2021 and it shall come into operation on 19th March, <\/p>\n","protected":false},"author":121,"featured_media":245872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,4],"tags":[],"class_list":["post-245871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","category-legislationupdates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Singapore | Electronic Transactions (Amendment) Act 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/03\/20\/singapore-electronic-transactions-amendment-act-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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2021","author":"Editor","date":"October 29, 2021","format":false,"excerpt":"The Ministry of Finance has notified the Courier Imports and Exports (Electronic Declaration and Processing), Amendment, Regulations, 2021 to further amend the Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010 vide notification dated October 27, 2021. Key amendments: Under Regulation 10, following sub-regulations has been inserted: Regulation 10A,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":253774,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/07\/new-provision-introduced-in-the-income-tax-rules-1962-prescribing-manner-of-authentication-of-an-electronic-record-under-electronic-verification-code-under-section-144b\/","url_meta":{"origin":245871,"position":1},"title":"New provision introduced in Income tax Rules, 1962 prescribing manner of authentication of an electronic record under electronic verification code under section 144B","author":"Bhumika Indulia","date":"September 7, 2021","format":false,"excerpt":"On September 06, 2021, the Central Board of Direct Taxes makes the Income-tax (26th Amendment) Rules, 2021 further to amend Income-tax Rules, 1962. \u00a0 The Amendment Act inserts new provision In the Income-tax Rules, 1962, after rule 14B: \u00a0 14C. Prescribed manner of authentication of an electronic record under electronic\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":252376,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/06\/electronic-based-offering-of-securities-not-to-be-construed-as-electronic-mode-under-rule-21h-of-companies-specification-of-definitions-details-third-amendment-rules-2014\/","url_meta":{"origin":245871,"position":2},"title":"Electronic based offering of securities not to be construed as electronic mode under Rule 2(1)(h) of Companies (Specification of definitions details) Third Amendment Rules, 2014","author":"Editor","date":"August 6, 2021","format":false,"excerpt":"The Ministry of Corporate Affairs has notified Companies (Specification of definitions details) Third Amendment Rules, 2021 on August 5, 2021. \u00a0 The Amendment inserts an explanation in in clause (h) of sub-rule (1) of Rule 2 of the Companies (Specification of definitions details) Rules, 2014. \u00a0 The Explanation clarified that\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":254690,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/24\/karnataka-police-amendment-bill-2021-passed-prohibits-online-gambling\/","url_meta":{"origin":245871,"position":3},"title":"Karnataka Police (Amendment) Bill, 2021 passed, prohibits online gambling","author":"Prachi Bhardwaj","date":"September 24, 2021","format":false,"excerpt":"The Karnataka Legislative Assembly has passed the Karnataka Police (Amendment) Bill, 2021 to amend Karnataka Police Act, 1963, banning all forms of gambling in the state, including online gambling. \u00a0 Key features of the Bill are: The bill seeks to make gambling a cognisable and non-bailable offence and \u201cinclude the\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7271,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/08\/07\/lok-sabha-passed-amendment-to-clarify-territorial-jurisdiction-in-bounced-cheque-cases\/","url_meta":{"origin":245871,"position":4},"title":"Lok Sabha passed Negotiable Instrument (Amendment) Bill to clarify territorial jurisdiction in Bounced-Cheque cases","author":"Sucheta","date":"August 7, 2015","format":false,"excerpt":"Lok Sabha passed the Negotiable Instruments (Amendment) Bill, 2015 which was introduced in Lok Sabha on 27.7.2015 by the Finance Minister Mr. Arun Jaitley. The Bill seeks to amend the Negotiable Instrument Act, 1881 and replace the Negotiable Instruments (Amendment) Ordinance, 2015 promulgated on 15.6.2015. The Bill modifies the definition\u2026","rel":"","context":"In &quot;Foreign Legislation&quot;","block_context":{"text":"Foreign Legislation","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/foreign\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":255783,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/18\/registration-of-assignment-of-receivables-amendment-rules-2021\/","url_meta":{"origin":245871,"position":5},"title":"Registration of Assignment of Receivables (Amendment) Rules, 2021","author":"Prachi Bhardwaj","date":"October 18, 2021","format":false,"excerpt":"The Ministry of Finance has notified Registration of Assignment of Receivables (Amendment) Rules, 2021 vide notification dated October 11, 2021. It amends the Registration of Assignment of Receivables Rules, 2012 in the following manner: Rule 3 of the Registration of Assignment of Receivables Rules, 2012, dealing with registration of transactions\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/245871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/121"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=245871"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/245871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/245872"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=245871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=245871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=245871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}