What is the Singapore Lokpal Bill?

I just read about the Singapore Lokpal Bill in some of the Gtalk, AIM, and YM statuses of my online friends. I don’t know what the heck is this bill and I don’t have a single clue about it. As what I have read, this bill eliminated corruption in Singapore. 142 corrupt ministers were arrested in a single day after this bill was passed in the year 1982. This bill improved Singapore’s economy and boosted its employment rate.