23 August 2016
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FROM THE SUPREME COURT (exclusive to SLW)
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Info-communications Media Development Authority Bill 2016 and Government Technology Agency Bill 2016 introduced in Parliament
The IMDA Bill establishes the IMDA and the regulatory and anti-competition functions of the IDA and the MDA will be consolidated within the purview of the IMDA…
Allen & Gledhill, 19 Aug 2016
Employment Claims Bill 2016: Establishment of Employment Claims Tribunal
The Bill aims to facilitate the expeditious resolution of employment disputes by providing for the mediation of such disputes. The Bill also provides for the constitution, jurisdiction and powers of and administration of justice in the ECT...
Allen & Gledhill, 16 Aug 2016
Changes to Child Development Co-Savings Act: Reimbursement for voluntary extended paternity leave and extending co-savings scheme to Singaporean children of unwed parents
To encourage fathers to spend more time with their children from birth, a second week of paternity leave, employers will be reimbursed by the Government for an additional week of leave taken or granted…
Allen & Gledhill, 16 Aug 2016
Trade Marks Act amended to allow appeals against interlocutory decisions issued by the Registrar of Trade Marks
The amendment to the Act allows a party in interlocutory proceedings between two or more parties to appeal to the High Court from a decision of the Registrar in those proceedings if the decision terminates any matter concerning a trade mark...
Allen & Gledhill, 03 Aug 2016
Sections of the New Human Biomedical Research Act in effect
Sections 40 to 63, among others, have come into effect. These sections relate to Codes of practice and ethics, enforcement powers of the Director to stop human biomed research or tissue banking activity and appeals procedure…
WongPartnership LLP, 27 Jul 2016
Goods and Services Tax Act: Changes to GST policies and administration
The changes allows the Comptroller of Goods and Services Tax to impose travel restriction orders to persons failing to repay wrongly claimed tourist refunds and clarifies the scope of zero-rating in relation to merchandise for sale on board an aircraft...
Allen & Gledhill, 23 Jun 2016
Income Tax Act: Amendments to implement Common Reporting Standard passed
The CRS sets out the financial account information to be exchanged, the financial institutions that are required to report, the different types of accounts and taxpayers covered, and the customer due diligence procedures...
Allen & Gledhill, 22 Jun 2016
Proposed amendments to Consumer Protection (Fair Trading) Act: Appointment of SPRING Singapore as administering agency
The MTI consultation paper proposes that the agency would be granted powers to investigate and gather evidence before filing injunction applications with the courts…
Allen & Gledhill, 17 Jun 2016
Child Development Co-Savings (Amendment) Bill 2016 passed by Parliament: Reimbursement for voluntary extended paternity leave and extending co-savings scheme to Singaporean children of unwed parents
The Bill, which will amend the Child Development Co-Savings Act is aimed at supporting active fatherhood and children of single unwed parents. These changes are not yet in force…
Allen & Gledhill, 16 Jun 2016
Restricting publication of false statements using s15 Protection from Harassment Act
The scope of s 15 Protection from Harassment Act was dealt with in Ting Choon Meng v AG  1 SLR 1248, particularly the purpose of the Act and how its provisions relate to one another…
Law Society of Singapore, 31 May 2016
Monetary Authority of Singapore Act: MAS proposes legislative amendments to enhance the resolution regime for Fis
MAS has proposed a new Division 2 under Part IVA MAS Act under which notified Fis, which are systematically important or that maintain critical functions, will be subject to RRP requirements….
Shook Lin & Bok LLP, 27 May 2016
Do you have an objection? Goh Yee Lan Coreena v P & P Security Services  SGHC 141
This judgment shows that any party that wishes to object to an NOA must strictly adhere to the WICA’s procedural requirements…
Singapore Law Blog, 19 Aug 2016
SHC: Defamatory internet publications - The need for electronic evidence
The SHC in Qingdao Bohai Construction Group v Goh Teck Beng  SGHC 142 held that the first plaintiff, a China-incorporated company, had no international reputation and failed to show a trading or business reputation...
Baker & McKenzie.Wong & Leow, 18 Aug 2016
SHC: When Is the right time to start an action?
The SHC in Antariksa Logistics v Nurdian Cuaca  SGHCR 10 held that the plaintiff bringing related claims about six years apart was legitimate as it was in the public’s interest to protect the plaintiffs’ ability to raise unlitigated issues...
Rajah & Tann, 15 Aug 2016
SCA dismisses application for leave to commence arbitration proceedings in company’s name
The SCA Sinwa SS (HK) v Nordic International  SGHC 111 held that the claims for which leave was sought were time-barred and the application for leave was held not to be bona fide in the best interest of Nordic International…
Allen & Gledhill, 15 Aug 2016
SHC sets aside arbitral award in JVL Agro Industries Ltd v Agritrade International
The SHC in JVL Agro Industries v Agritrade International  SGHC 126 allowed the application to set aside an arbitral award on the basis that there had been a breach of the rules of natural justice on the basis that JVL had been deprived of...
Clifford Chance, 11 Aug 2016
SCA: Equitable accounting as a means to achieve broad justice between co-owners
The SCA in Su Emmanuel v Emmanuel Priya Ethel Anne  SGCA 30 considered an appeal against an order for the sale of a property and a declaration that the first respondent owns a beneficial interest in proportion to her actual contributions...
RHTLaw Taylor Wessing LLP, 10 Aug 2016
SHC: What makes up a house? Examining the boundaries of ownership of property
The SHC in Peh Kah Chan v Tan Chong Realty  SGHC 135 was faced with a property transfer from the 1950s, and had to consider how far a shophouse owner had rights over the surrounding land…
Rajah & Tann, 08 Aug 2016
SHC: The purpose of the statement of facts in a plead guilty case
This executive summary examines the analysis made by the court on the issue of an adequate Statement of Facts, and the likely practical implications PP v Andrew Koh Weiwen  SGHC 103 would have on future criminal proceedings...
RHTLaw Taylor Wessing LLP, 08 Aug 2016
SCA: Key developments in passing off, instruments of deception and groundless threats of copyright proceedings
The SCA in Singsung v LG 26 Electronics  SGCA 33 re-affirmed the basic principle that the tort of passing off seeks to protect the plaintiff’s goodwill in his business and not specifically his right to the exclusive use of a mark, get-up or logo…
RHTLaw Taylor Wessing LLP, 05 Aug 2016
SCA - Substantive legitimate expectations: Slow and steady
The present article summarises the issues raised in in SGB Starkstrom v Commissioner for Labour  3 SLR 598, and suggests some areas for further reflection…
Law Society of Singapore, 03 Aug 2016
SHC: Enforceability of Chinese judicial settlements in Singapore
The court in Shi Wen Yue v Shi Minjiu  SGHCR 8 held that "mediation papers" are enforceable in Singapore. These are agreements made between disputing parties to resolve a dispute, which are then authenticated and signed by a Judge of the Chinese Cou
Baker & McKenzie.Wong & Leow, 27 Jul 2016
SICC releases first full judgment on liability
The court in Telemedia Pacific Group v Yuanta Asset Management International  SGHC(I) 03 held that the defendants held shares on trust for the plaintiff and were in breach of contract and fiduciary obligations when they sold them…
Rajah & Tann, 20 Jul 2016
You Can Run but You Can’t Hide: Storey, David Ian Andrew v Planet Arkadia Pte Ltd and others  SGHCR 7
While the Court's decision to grant an application for substituted service via the electronic means of Skype, Facebook and an internet message board is welcomed, there remain issues or potential problems in relation to effecting substituted service...
Singapore Law Blog, 20 Jul 2016
SCA: Facts or interpretations?
Lucky Realty Company v HSBC Trustee (Singapore)  SGCA 68 concerned the interpretation of a rent review clause in a lease agreement wherethe appellant’s remaining rental obligation to the respondent was projected to be about $6 million ...
Lee & Lee, 20 Jul 2016
SHC: Application for leave to continue action against an insolvent defendant: A balancing act
The SHC held that in deciding whether leave should be granted to the plaintiff to proceed with an action for breach of contract against an insolvent defendant, it must balance the collective interest of the defendant’s general body of creditors...
Dentons Rodyk & Davidson LLP, 18 Jul 2016
Latest developments: Banking, construction
This executive summary looks at the cases of Arab Banking Corp (B.S.C.) v Boustead Singapore Ltd  SGCA 26 and Asplenium Land Pte Ltd v CKR Contract Services Pte Ltd  SGHC 85…
WongPartnership LLP, 01 Jul 2016
Green Men and Treacherous Crossings: Asnah bte Ab Rahman v Li Jianlin  2 SLR 944
The SCA held that pedestrian was responsible for keeping a lookout, even when crossing at a signalised pedestrian crossing with the lights were in his favour…
Singapore Law Blog, 01 Jul 2016
No reliance without expectation of returns? Alvin Nicholas Nathan v Raffles Assets  SGCA 18
The SCA held that a tenant could not claim both the costs of relocating from the original premises to the current premises and the wasted costs of renovating the original premises…
Singapore Law Blog, 29 Jun 2016
SHC: Features of design and build contracts
The SHC in Goh Eng Lee Andy v Yeo Jin Kow  SGHC 110 examined the key features of ‘design and build’ contracts and in particular, whether it is necessarily a lump sum contract…
Rajah & Tann, 28 Jun 2016
SHC: Recognition of foreign liquidators – Universalism in Singapore insolvency law
The SHC in Re Opti-Medix Ltd (in liquidation)  SGHC 108 noted that there has been a shift away from the traditional territorial focus in cross-border insolvency towards a more universalist approach, which supports universal cooperation between juris
Rajah & Tann, 24 Jun 2016
SHC: Penalty clauses - How to avoid falling foul of them
The SHC in iTronic Holdings v Tan Swee Leon  SGHC 77 held that even if the provisions were secondary obligations triggered by a breach, they were neither extravagant nor unconscionable; the penalty rule did not apply…
Linklaters, 21 Jun 2016
SHC: Wrongful arrest of a vessel – dealing with applications and appeals
The SHC in The Xin Chang Shu  SGHC 308 considered whether leave of court was required to appeal against the Wrongful Arrest Order and if so, whether leave of court should be granted…
Rajah & Tann, 20 Jun 2016
SHC rejects debtor’s second attempt to raise same arguments in bankruptcy proceedings
The SHC in Liew Kai Lung Karl v Ching Chiat Kwong  SGHC 98 held: although a debtor need only raise triable issues in an application to obtain a stay or dismissal of bankruptcy proceedings, an allegation of a “substantial and bona fide dispute"...
RHTLaw Taylor Wessing LLP, 20 Jun 2016
SHC: Use of social media and internet message boards to effect substituted service
The SHC in Storey, David Ian Andrew v Planet Arkadia  SGHCR 7 dealt with the issue of substituted service through social media and internet message boards…
Baker & McKenzie.Wong & Leow, 15 Jun 2016
SHC allows oppression claim and orders buyout of minority shareholder’s shares
The SHC in Seaquest Enterprise v Agile Accomm  SGHC 51 ordered a buyout of the minority shareholder’s shares at a fair value pursuant to s 216(2)(d) Companies Act as valued by an independent valuer, on the basis of a fair market value...
Allen & Gledhill, 15 Jun 2016
SCA: A bank’s duties under letters of credit and the UCP 600
In Grains and Industrial Products Trading v Bank of India  SGCA 32, the SCA examined the relationship and obligations between beneficiary, issuing bank and the nominated bank under the UCP 600…
Rajah & Tann, 08 Jun 2016
SICC gets off to a flying start: First judgment released only four months after closing submissions
In BCBC Singapore v PT Bayan Resources TBK  SGHC(I) 01, a Singapore company and its Australian parent sought damanges from their Indonesian joint venture partner…
Freshfields Bruckhaus Deringer, 08 Jun 2016
SHC determines novel issues on unfair preference
The SHC in Living the Link v Tan Lay Tin Tina  SGHC 67 determined certain novel issues regarding unfair preference transactions, including whether the court can order the partial reversal of impugned transactions...
Rajah & Tann, 02 Jun 2016
Law on penalties in Singapore – Lessons from a landmark UK Supreme Court decision
What the Cavendish decision means for Singapore remains to be seen. However, since it does not appear to represent a sea-change in the law, it may be that Singapore Courts will consider adopting this broader test to be consistent with the origins of...
Law Society of Singapore, 02 Jun 2016
SHC clarifies scope of prohibition of “repeat claims” under the SOPA
In SHC in Asplenium Land v CKR Contract Services  SGHC 85 decided that a repeat claim that was prohibited under the Security of Payment Act was a payment claim which had previously been brought to adjudication and had been determined on its merits..
Lee & Lee, 01 Jun 2016
SHC holds that leaked privileged and confidential communications freely available online may not be used as evidence
The SHC held in HT SRL v Wee Shuo Woon  SGHC 15 that a court may, under the law of confidence, expunge from a party’s affidavit references to and exhibits of privileged and confidential e-mails hacked from the other party’s computer systems...
Allen & Gledhill, 31 May 2016
SHC finds no likelihood of confusion under section 8(2)(b) of Trade Marks Act on appeal
The SHC, in coming to its decision in Polo/Lauren v United States Polo Association  SGHC 32, took into account the low degree of similarity between the trade marks and the greater attention that the average consumer was likely to pay...
Allen & Gledhill, 27 May 2016
SCA highlights need for statutory demand rules to be read in the context of the Bankruptcy Act
The SCA held in Chan Siew Lee Jannie v Australia and New Zealand  SGCA 23 that a statutory demand is not defective if it only specifies security held by the petitioning creditor which had been provided by the debtor in respect of the debt…
RHTLaw Taylor Wessing LLP, 27 May 2016
SHC: Standing tall – The “Independent Contractor” defence for builders and construction professionals
The SHC in MCST Plan No 3322 v Mer Vue Developments  SGHC 38 considered whether the contractor performed services as a person of business on his own account (the “Independent Business Test”) and the extent of the control exercised by the employer...
Dentons Rodyk & Davidson LLP, 26 May 2016
SHC cautions that the threshold for a trade mark to be considered well-known in Singapore is not minimal and must be applied with caution to maintain the balance of rights
The case of Caesarstone Sdot-Yam v Ceramiche Caesar  SGHC 45 shows that competing marks must be compared as a whole when assessing similarity and the courts exercise greater caution in finding that a mark is well-known in Singapore…
Allen & Gledhill, 26 May 2016
An appeal on the merits unmasked - High Court dismisses application to set aside arbitral award
The SHC in Mount Eastern Holdings Resources v H&C S Holdings  SGHC 01 dismissed the application to set aside the tribunal’s award, finding that there was no breach of natural justice…
Dentons Rodyk & Davidson LLP, 25 May 2016
Auction house Christie’s succeeds in opposing registration of competitor’s Chritrs mark
The opponent in Christie Manson & Woods v Chritrs Auction  SGIPOS 01 succeeded on the ground that the application mark was applied for in bad faith with the Registrar rejecting the other grounds...
Baker & McKenzie.Wong & Leow, 25 May 2016
SHC: Grant of security may be avoided as a transaction at an undervalue?
The SHC in Encus International v Tenacious Investment  SGHC 50 observed that it may be possible for the grant of security to amount to a transaction at an undervalue under s 98 Bankruptcy Act...
Allen & Overy LLP, 24 May 2016
SCA considers shipowner's liability under the concept of agency by estoppel
The SCA in The "Bunga Melati 5"  SGCA 20 discussed one of the established exceptions to the doctrine of privity of contract - the principle of agency...
Baker & McKenzie.Wong & Leow, 24 May 2016
The art of crossing: The pedestrian and contributory negligence - Bte Ab Rahman v Li Jianlin  2 SLR 944
The SCA in Asnah Bte Ab Rahman v Li Jianlin  2 SLR 944 held that pedestrians must check for oncoming vehicles when crossing roads, even if the traffic light is in their favour.
Singapore Law Watch, 22 Jun 2016
Personal data protection – Prohibition on transfer of data out of Singapore
Section 26 of the Personal Data Protection Act prohibits the transfer of personal data to a country or territory outside of Singapore except in accordance with requirements prescribed under the Act…
Dentons Rodyk & Davidson LLP, 19 Aug 2016
PDPC revises advisory guidelines and announces new/updated guides and initiatives
The PDPC revised the “Consent Obligation” chapter in the “Advisory Guidelines on Key Concepts in the Personal Data Protection Act” to provide further clarity on the withdrawal of consent requirements...
Allen & Gledhill, 18 Aug 2016
SGX to set up subsidiary company ‘RegCo’ for regulatory functions
SGX announced it will hive off its regulatory arm from its commercial activities following criticisms about the conflict of interest inherent in SGX regulating its own clients…
Morgan Lewis Stamford LLC, 12 Aug 2016
Planning for Brexit
This executive summary examines the effect of Brexit in the future. Legal, regulatory and trading arrangements in particular present many complexities and uncertainties. These must be viewed in the context of the timing of an eventual withdrawal...
RHTLaw Taylor Wessing LLP, 11 Aug 2016
Singapore to become international centre for debt restructuring
Singapore’s Insolvency Law Review Committee made recommendations to update the country’s insolvency laws and noted that the demand for debt-restructuring services in Asia was growing…
Morgan Lewis Stamford LLC, 10 Aug 2016
Third-Party Funding in Singapore: out of the shadows and into the light
Third-party funding is the funding of the costs of legal proceedings by an entity that is unconnected to the dispute. Singapore law currently prohibits third-party funding in both litigation and arbitration, with limited exceptions…
10 Aug 2016
MAS proposes enhanced requirements for protection of client moneys and assets held by capital markets intermediaries
The proposed enhancements govern the protection of client moneys and assets held by Capital Markets Services licence holders and take into account the recommendations of the International Organisation of Securities Commission...
Shook Lin & Bok LLP, 04 Aug 2016
MAS to further strengthen anti-money laundering enforcement
This executive explains the latest MAS move and provide a refresher to law firms wanting to adopt a more robust compliance framework and be even more ready for any heightened inspection regime...
Law Society of Singapore, 02 Aug 2016
Enhanced government-paid employee parental leave entitlements effective 2017
These revisions primarily to the Child Development Co-Savings Act enhance various government-paid leave entitlements which seek to grow the “Singaporean core” internally, by enhancing the government-paid employee parental leave entitlements...
Colin Ng & Partners, 02 Aug 2016
PDPC issues new guide and amends advisory guidelines to help organisations manage requests for access to personal data
The Guide aims to help organisations effectively manage individuals’ requests for access to their personal data in compliance with the Personal Data Protection Act (“PDPA”). The Guide recommends that organisations should establish clear policies...
Allen & Gledhill, 02 Aug 2016
How does Brexit impact employers in Asia?
This executive summary provides the “do’s and don’ts” in handling employee communications on Brexit's effect on employment law…
Linklaters, 29 Jul 2016
Common Reporting Standards and its impact on fund managers
The CRS provides a standardised set of detailed due diligence and reporting rules for financial institutions to follow to ensure consistency in the scope and quality of information exchanged between participating countries…
Colin Ng & Partners, 27 Jul 2016
Revised listings due diligence guidelines issued by the Association of Banks in Singapore
These guidelines are recommended by the ABS as guidance on the due diligence procedures and processes required of its member banks in the context of initial public offerings in Singapore…
Dentons Rodyk & Davidson LLP, 26 Jul 2016
MOM issues Tripartite Guidelines on the Employment of Term Contract Employees
The Guidelines seek to encourage employers to grant certain term contract employees benefits that are ordinarily available only to employees in permanent positions under the existing employment legislation…
Allen & Gledhill, 26 Jul 2016
Getting a prenuptial agreement in Singapore
Although not always enforceable in Singapore, this commentary explores the practical advantages a prenup agreement can offer and clarifies frequently asked questions about getting one…
Colin Ng & Partners, 26 Jul 2016
Business succession planning: Part 1
Like estate planning for individuals, business succession planning requires thorough consideration of the non-legal aspects, such as identifying and training a successor…
Colin Ng & Partners, 22 Jul 2016
[INT] Competition bites – ASEAN and beyond
Competition regulators worldwide have not tired in their enforcement efforts, with multiple infringement decisions being issued and investigations being launched in a varied range of industries…
Rajah & Tann, 22 Jul 2016
MAS directs bank to shut down in Singapore over serious breaches of anti-money laundering requirements
MAS imposed financial penalties amounting to $13.3 million for 41 breaches of AML regulations and has served BSI Bank notice to shut down for serious breaches of AML requirements…
Colin Ng & Partners, 21 Jul 2016
Updated patent registry guidelines: criteria for allowing post-grant amendments in light of recent Singapore cases
In addition to the requirements under s 84 Patents Act, applications for post-grant amendments to patents will be assessed based on criteria such as whether relevant matters are sufficiently disclosed,...
Rajah & Tann, 21 Jul 2016
ACRA issues Enforcement Policy Statement
ACRA will decide whether to take enforcement action by applying the following three key factors: public interest, harm caused by the alleged breach and whether the complaint is bona fide and contains sufficient…
Allen & Gledhill, 21 Jul 2016
ACRA announces new initiatives for corporate service providers and extends time for private companies to update shareholder information for EROM
With the rising economic growth in Asia-Pacific and ASEAN and corresponding increase in demand for CSP services, CSPs are encouraged to continue to raise their professional standing and strive to deliver the highest level services for cross-border cliente
Allen & Gledhill, 18 Jul 2016
ACRA issues Registrar’s Interpretations: Clarifying Companies Act provisions
While not legally binding, RIs are instructive for their practical guidance on interpreting specific provisions of the Companies Act and other business legislation…
Allen & Gledhill, 15 Jul 2016
CCS consultation on amendments to penalty and enforcement guidelines: final opportunity to respond
Amendments include clarifying what forms of infringement would be considered „serious‟ and thus warrant the imposition of a higher financial penalty…
Rajah & Tann, 15 Jul 2016
SIAC announces new arbitration rules 2016
SIAC has introduced a procedure for early dismissal of claims or defences that are manifestly without merit or manifestly outside the jurisdiction of a tribunal...
Morgan Lewis Stamford LLC, 13 Jul 2016
Introduction of sustainability reporting “comply or explain” requirement by SGX
New Rules 711A and 711B have been introduced in the Listing Manual on Continuing Listing Obligations, requiring an issuer to issue a sustainability report for its financial year, no later than 5 months after the end of the financial year...
WongPartnership LLP, 12 Jul 2016
Technology, media and telecommunications quarterly regional update: Halftime Highlights
This executive summary gives an overview of the latest developments in fintech, crowd-funding services and private car hire, ride sharing/carpooling, short term home rentals, and peer to peer lending…
Rajah & Tann, 12 Jul 2016
Remission of stamp duty on certain conveyance directions – Licensed housing developers
This article examines the ways in which an ultimate purchaser may obtain remission of duty that is otherwise chargeable on directions to convey or transfer property to that purchaser...
Dentons Rodyk & Davidson LLP, 12 Jul 2016
Singapore and the Brexit effect
While Singapore companies’ businesses are mainly focused in Asia, and therefore have limited direct UK exposure, those with operations in the UK may record reduced earnings and, correspondingly, downward pressure in stock price...
Morgan Lewis Stamford LLC, 08 Jul 2016
Latest developments: Securities and futures; competition law; litigation and dispute resolution; tort; real estate
This executive summary provides updates on SGX public consultation on listing rules amendments, the Right of Private Action under the Companies Act, the Singapore Choice of Court Agreements Act, the vicarious liability of employers...
Dentons Rodyk & Davidson LLP, 08 Jul 2016
Enhancing the Med-Arb process in Singapore: Lessons from the commonwealth and beyond
The SIAC-SIMC Arb-Med-Arb Protocol was introduced to encourage parties to consider mediation before proceeding to arbitration in Singapore. This executive summary touches on its shortcomings, and recommend suitable changes…
Law Society of Singapore, 04 Jul 2016
The single economic entity doctrine in competition law
This executive summary seeks to explain the single economic entity doctrine under competition law; address common questions and misconceptions regarding the doctrine; and highlight the implications for businesses…
Law Society of Singapore, 01 Jul 2016
Learning to manage
A top-class legal practitioner isn’t necessarily an ideal law firm leader, and lawyers can sometimes find themselves out of their depth when it comes to running a firm…
Thomson Reuters, 30 Jun 2016
State Courts Practice Directions (Amendment No 1 of 2016): Enhancing measures to promote early and effective resolution of motor accident and personal injury claims
The aim of the changes to the PDs is to facilitate greater adherence to them by the parties even before legal proceedings are being commenced…
Law Society of Singapore, 29 Jun 2016
How an RTO achieves a win-win for all
An RTO can be an attractive route for a company to gain a listing for the following reasons: an agreed valuation and pricing upfront; there is no requirement for underwriting and no need for book-building…
Shook Lin & Bok LLP, 24 Jun 2016
Singapore joins international framework for implementing BEPS
Under the framework and as a BEPS Associate, Singapore will participate in developing and monitoring the implementation of the BEPS measures, along with other BEPS Associates...
Baker & McKenzie.Wong & Leow, 23 Jun 2016
MAS responds to feedback on proposals for securities-based crowdfunding
In the response, the MAS stated that it will proceed with the proposed easing of financial requirements for Dealing Licensees by lowering the base capital requirement from S$250,000 to S$50,000, and removing the requirement to maintain a security deposit
Rajah & Tann, 23 Jun 2016
MinLaw consults on recommendations to strengthen Singapore as an international centre for debt restructuring
The recommendations are aimed at enhancing the legal framework for restructurings, creating a restructuring friendly ecosystem and addressing a perception gap that may exist with practitioners who have no direct experience with the insolvency regime...
Allen & Gledhill, 21 Jun 2016
Singapore signs anti-corruption declaration
The Declaration sets out high-level goals to combat corruption. Singapore submitted a country statement to be annexed to the communique attached to the Declaration…
Allen & Gledhill, 20 Jun 2016
MAS announces policy posture on securities-based crowdfunding
The MAS consultation and the policy posture relate only to securities-based crowdfunding, which refers to the offer of securities - whether in the form of debt or equity instruments - via a crowdfunding platform...
Shook Lin & Bok LLP, 17 Jun 2016
MOM to introduce stiffer enforcement penalties and enhanced support programmes to address workplace accidents
The minimum Stop-work Orders period has been increased from two weeks to three weeks…
Allen & Gledhill, 16 Jun 2016
MAS issues consultation paper on FinTech regulatory sandbox guidelines
The proposed Guidelines is intended to set out the objective and principles of the Sandbox, as well as provide guidance on the application process…
Rajah & Tann, 15 Jun 2016
ABS enhances due diligence guidelines for listings with effect from 13 May 2016
Key changes include considering if recent resignations or changes of management, directors and controlling shareholders may have been due to reasons that raise questions about the issuer or about the conduct or attitudes of the remaining management...
Allen & Gledhill, 14 Jun 2016
CCS leads efforts to develop ASEAN Competition Policy and Law Programme to align competition policy and law in ASEAN
The CPL Programme aims to provide a platform to bring together businesses from the ASEAN Economic Community Blueprint 2015 priority sectors, senior officials from ASEAN government agencies, and experts in their fields to network and build relationships...
Allen & Gledhill, 14 Jun 2016
The Mergers and Acquisitions Incentive Scheme for Singapore companies
Under the M&A Scheme, an acquiring company that acquires the ordinary shares of another company during the period 1 April 2016 to 31 March 2020 is granted an M&A allowance equivalent to 25% of the value of the acquisition for each YA...
Dentons Rodyk & Davidson LLP, 10 Jun 2016
MAS signs FinTech Bridge cooperation agreement with UK financial authority
Regulatory Cooperation Agreement will enable the regulators in UK and Singapore to refer FinTech firms to their counterparts across the globe…
Allen & Gledhill, 09 Jun 2016
SGX amends SGX-DC Clearing Rules and Futures Trading Rules to offer “affiliate segregation” as an option to SGX-DC clearing members
Affiliate segregation is an arrangement that protects the collateral of a SGX-DC clearing member’s affiliates from use in the event the clearing member defaults in respect of its own contracts only…
Allen & Gledhill, 09 Jun 2016
MAS eases regulations on sale of corporate bonds to retail investors
Issuers which meet the eligibility requirements relating to their risk profile will be able to offer bonds directly to retail investors in denominations as little as S$1,000 without the need for a prospectus…
Rajah & Tann, 07 Jun 2016
Recent moves towards gas trading hubs in Asia: implications for Asian gas buyers and sellers
The significance of a gas trading hub is that, if it develops sufficient liquidity, it might establish a “market price” for natural gas and thereby call into question the appropriateness of oil-indexed pricing models…
Freshfields Bruckhaus Deringer, 07 Jun 2016
Right of first refusal in relation to real estate
This article aims to provide an overview of what constitutes a right of first refusal (ROFR) in relation to real estate and the salient considerations to be borne in mind by parties considering a ROFR agreement…
Dentons Rodyk & Davidson LLP, 06 Jun 2016
CCS Paper on quantifying the benefits of competition enforcement
The CCS's paper examines, on a quantitative basis, the effects of enforcement of competition law and competition advocacy efforts…
Rajah & Tann, 06 Jun 2016
Two sets of revised tripartite guidelines recently released
In ine with the government's policy to raise the re-employment age from 65 to 67 on 1 July 2017, the Tripartite Committee on the Employability of Older Workers issued a set of revised Tripartite Guidelines on the Re-employment of Older Workers…
WongPartnership LLP, 06 Jun 2016
The balanced scorecard framework for financial advisers: A Pandora’s box?
The Balanced Scorecard Framework determes the remuneration of representatives and supervisors in the financial advisory industry and came into force on 1 January 2016.
Law Society of Singapore, 02 Jun 2016
Venture Debt Programme – A new source of funding development plans for emerging entities
The Venture Debt Programme is a government-led initiatives that expands the range of capital raising options available to entrepreneurs in Singapore. It aims to provide local early stage and high growth SMEs with a new financing option for business...
Dentons Rodyk & Davidson LLP, 01 Jun 2016
PDPC issues advisory guidelines on enforcement of the data protection provisions and takes action against 11 organisations for breaching data protection obligations
The PDPC also issued the Advisory Guidelines on Enforcement of the Data Protection Provisions that provide guidance on the manner in which the PDPC will interpret the PDPA’s provisions relating to enforcement of the Data Protection Provisions...
Drew & Napier LLC, 31 May 2016
Steady progress in IP cooperation between Singapore and Cambodia, expediting quality patent grants
The MOU between the two countries aims to make protection of IP more accessible to businesses and creators with closer tie-ups between the IP regimes of the two countries...
Allen & Gledhill, 24 May 2016
[GBR] A picture speaks a thousand words – Lessons from the Trunki case
The case of PMS International Group plc v Magmatic Limited  UKSC 12 emphasises the importance of choosing appropriate design drawing in design registration in order to avoid limiting the scope of protection conferred by registration…
Dentons Rodyk & Davidson LLP, 18 Aug 2016
[IDN] The 2016 Indonesian tax amnesty
Under the Amnesty, participating taxpayers would have their tax liabilities (including administrative and criminal sanctions) waived upon payment of a defined amount referred to as a “Redemption Charge”…
Rajah & Tann, 11 Aug 2016
[INT] Carriers versus Shippers – The Rotterdam Rules: Striking a more appropriate balance
This executive summary explains why and how, compared with the Hague-Visby Rules, the Rotterdam Rules (UNCITRAL) seem, on paper, to strike a more appropriate balance between the oftconflicting interests of carriers and shippers of maritime cargo…
Colin Ng & Partners, 08 Aug 2016
[CHN] Understanding China’s current outbound investments
With policy and financial support from the government, more Chinese companies have strategically planned and developed their investment globally in the past decade…
RHTLaw Taylor Wessing LLP, 04 Aug 2016
[INT] Notification injunction: A novel approach
This executive summary explores Holyoake v Candy  EWHC 970 and suggests that while it may be some time before the requirements of a notification injunction are clearly articulated, there is definitely a place for it in our litigation process...
Law Society of Singapore, 03 Aug 2016
[GBR] English CA opines that an “anti-oral variation” clause in a contract does not necessarily preclude the contract from being varied orally or by conduct
The English CA in Globe Motors v TRW Lucas Varity Electric Steering  EWCA Civ 396 provided the obiter view that an agreement with a specific clause that all amendments to it must be made in writing does not necessarily preclude variations being made
Allen & Gledhill, 03 Aug 2016
[USA] The affirmation of the Open Internet rules in the US and its potential impact on net neutrality in the region
US Court of Appeals ruled that Federal Communications Commission had the expert authority to reclassify broadband as a telecommunications service...
Rajah & Tann, 13 Jul 2016
[EU] Investing in Europe: What do Europe’s new market abuse rules mean for investors?
Some important changes to the regime include a broader scope and a new framework for market soundings. MAR applies in relation to financial instruments admitted to trading on a European-regulated market or multilateral trading facility...
Linklaters, 08 Jul 2016
[IND] Understanding the new Insolvency Code – Part I: Debt restructuring for corporate debtors
This executive summary deals with the debt restructuring process contemplated under the Insolvency and Bankruptcy Code, 2016 of India for corporate debtors with a view to re-establishing the debtor as a viable economic entity...
Linklaters, 29 Jun 2016
[GBR] Latest developments: Intellectual property
This executive summary features the latest judgments from the UK: England and Wales Cricket Board v Tixdaq  EWHC 575, Design & Display v Ooo Abbott  EWCA Civ 95, London Taxi Corporation Ltd v Frazer Nash Research  EWHC 52…
WongPartnership LLP, 21 Jun 2016
[EU] New e-commerce regulations proposed by European Commission
The proposed Geo-blocking Regulation prohibits businesses operating in the EU from directly or indirectly discriminating between customers based on the customers’ nationality, place of residence, or place of establishment…
Rajah & Tann, 14 Jun 2016
[GBR] In dire straits: The true nature of bunker supply contracts, and where now for affected shipowners after OW bunker’s insolvency?
The case of PST Energy 7 Shipping v O.W. Bunker Malta  UKSC 23 centres on the question of whether the contract between a shipowner and the OW Bunker subsidiary company for the provision of bunkers is or is not a contract for the sale of goods…
20 Essex Street, 10 Jun 2016
[GBR] UK Supreme Court Press Summary: PST Energy 7 Shipping LLC v O W Bunker Malta Ltd (whether contract between a shipowner and OW Bunker subsidiary is contract for sale of goods)
The shipowner-OW contract was not a contract for sale and ING (as OW Bunker’s assignee) is entitled to claim the contract price…
UK Supreme Court, 07 Jun 2016
Supreme Court Note
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