PAYMENT SERVICES ACT 2019 – SINGAPORE

An Act 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.

Aspen Underwriting Ltd and ors vs Credit Europe Bank NV- 01/04/2020

QUESTION: These appeals concern whether the High Court of England and Wales has jurisdiction to hear claims to recover sums paid under a settlement agreement relating to the loss of an insured vessel.ANSWER: The Supreme Court unanimously dismisses the Insurers’ appeal and allows the Bank’s appeal, declaring that the High Court does not have jurisdiction over any of the Insurers’ claims against the Bank. Lord Hodge gives the sole judgment with which the other Justices agree.