OBS_VALUE: Collective management organisations, or CMOs, were unregulated until 2024. As from 1 May 2024, the Copyright Act 2021 establishes a regulatory framework for CMOs under a class licensing scheme administered by IPOS. Under this scheme, all CMOs must comply with applicable class licence conditions. This scheme is governed by the Copyright (CMOs) Regulations 2023, which set out the licence conditions. CMOs must distribute the tariffs (royalties) to their members in a manner that is accurate, fair and efficient, and that CMOs are accountable to their members in relation to the methodology and processes used for tariff distribution. To ensure this, the class licensing scheme requires CMOs to establish and comply with a distribution policy that governs the critical aspects mentioned below. See also, Guide to the CMO Class Licensing Scheme (CMO Guide), https://www.ipos.gov.sg/about-ip/copyright/copyright-owners/collective-management-organisations