02 August 2015
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FROM THE SUPREME COURT (exclusive to SLW)
Supreme Court Note: Li Siu Lun v Looi Kok Poh  SGHC 149 (assessment of damages in the tort of conspiracy)
The court revised the total compensation down to $63,000: $21,000 as general damages and $42,000 as aggravated damages for the plaintiff’s distress…
Supreme Court, 30 Jul 2015
Supreme Court Note: PP v Sivanantha Danabala  SGHC 154 (backdating of sentence where “break” in custody)
The court held that a sentence of imprisonment can be backdated to the date of arrest even though the offender was not continuously in custody up to his conviction…
Supreme Court, 22 Jul 2015
Supreme Court Note: Timothy Nicholas Goldring v PP  SGHC 158 (effect of liability exclusion clauses in cheating)
The court held that liability exclusion clauses cannot relieve an accused person of criminal liability in a cheating charge if he acted dishonestly…
Supreme Court, 01 Jul 2015
Supreme Court Note: PP v Christeen d/o Jayamany  SGHC 126 (s 33B(2) Misuse of Drugs Act)
In determining whether an accused person satisfies the “courier” exception, the following non-exhaustive factors could be distilled: whether the role is a common and ordinary incident of transporting, sending or delivering a drug…
Supreme Court, 08 Jun 2015
Supreme Court Note: Ram Das V N P v SIA Engineering  SGHC 74 (offer to settle on liability only is valid and effective under O 22A r 9 ROC)
The SHC considered whether an offer to settle that dealt only with the issue of liability was able to attract the cost consequences under O 22A r 9(3) ROC...
Supreme Court, 27 May 2015
Employment Act: Proposed amendments
Employers will be required to issue itemised payslips to employees, make and keep employee records, and provide employees with written key terms of their employment...
Rajah & Tann, 29 Jul 2015
Employment (Amendment) Bill: Tougher rules to ensure that employers comply with good employment practices
Key proposed amendments include greater demands on employers pertaining to the recording of employee information; the introduction of civil contraventions for the purpose of the Act and the enhancement of the powers of enforcement officers...
Baker & McKenzie.Wong & Leow, 28 Jul 2015
Housing Developers (Control and Licensing) (Amendment) Act 2013: Developing greater confidence in the private residential property market
The Amendment Act, Housing Developers (Amendment No. 2) Rules 2015 and Housing Developers (Show Unit) Rules afford homebuyers more safeguards, while giving housing developers the opportunity to offer greater assurance to such purchasers...
Rodyk & Davidson, 28 Jul 2015
Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act: Amendments to the Act
The Act has been amended to account for various offences as “drug dealing offences” and “serious offences”, which include criminal conduct and drug dealing committed in or outside Singapore, under the Act…
Allen & Gledhill, 24 Jul 2015
Companies Act: Amendments that impact financing transactions
This executive summary focuses primarily on the impact certain amendments will have on loans, quasi-loans and credit transactions, specifically ss 162 and 163...
Rodyk & Davidson, 21 Jul 2015
Banking (Credit Card and Charge Card) Regulations 2015 amended: Refinements to credit card and unsecured credit rules
MAS clarified that financial institutions may rely on the most recent Notices of Assessment to assess applications for new credit cards and unsecured credit facilities, but only in the case of applicants with no fixed monthly incomes...
Allen & Gledhill, 16 Jul 2015
Securities and Futures (Clearing of Derivatives Contracts) Regulations: Draft regulations for mandatory clearing of derivatives contracts
This executive summary looks at the persons and types of OTC derivative contracts that are subject to the proposed mandatory clearing requirements, and other criteria which would determine whether or not mandatory clearing requirements would apply...
WongPartnership LLP, 09 Jul 2015
Credit Bureau Regulatory Framework and Credit Bureau Bill: MAS issues response to feedback from consultation paper
With credit bureaus collecting more detailed borrower credit information from banks, the MAS proposes to subject them to formal oversight under the proposed Bill, so as to safeguard sensitive borrower credit information and protect consumers’ interests…
Allen & Gledhill, 30 Jun 2015
Companies (Amendment) Act 2014: Summary of amendments
The latest review of the Companies Act ensures that Singapore’s corporate regulatory framework continues to meet changing business realities, reduce the regulatory burden and ease compliance for companies...
Law Society of Singapore, 26 Jun 2015
Financial Advisers (Amendment) Bill 2015 and Insurance (Amendment) Bill 2015: Implementing FAIR recommendations and inspections by foreign regulatory authorities
The introduction of the Bills is a step towards the implementation of the FAIR recommendations which will raise the standards and professionalism of the financial advisory industry, and encourage greater efficiency in the distribution of life insurance...
Allen & Gledhill, 25 Jun 2015
The point at which the right to access counsel arises
While a recent SHC ruling has given some clarity to this contentious matter but some issues remain unresolved...
Law Society of Singapore, 25 Jun 2015
State Lands Act and Land Acquisition Act amended: Facilitating use and development of underground space
The amendments to the two Acts include clarifying the extent of underground ownership, introducing strata acquisition powers…
Allen & Gledhill, 23 Jun 2015
Legislative amendments to strengthen the MAS' anti-money laundering efforts and counter the financing of terrorism
Monetary Authority of Singapore (Amendment) Bill provides MAS with greater supervisory powers over financial institutions and more extensive cooperation between MAS and its foreign supervisory counterparts…
Baker & McKenzie.Wong & Leow, 18 Jun 2015
Bankruptcy (Amendment) Bill 2015: Increased minimum debt threshold
The Bill seeks to amend the Bankruptcy Act to create a more rehabilitative regime for bankrupts, ensure better utilisation of public resources and encourage creditors to exercise financial prudence when extending credit…
Allen & Gledhill, 17 Jun 2015
Clarifications on the Mental Capacity Act
This executive summary discusses the approach to be taken under the Mental Capacity Act in light of Re BKR  SGCA 26…
Singapore Law Blog, 15 Jun 2015
Liquor Control (Supply and Consumption) Act 2015: Law to regulate supply and consumption of liquor at public places takes effects
Other provisions in the Act include liquor licensing, Liquor Control Zones and public drunkedness and enforcement powers...
Allen & Gledhill, 27 May 2015
Work Injury Compensation Act: Higher compensation limits and wider scope of expenses claimable
Ministry of Manpower proposed amendments to the Act to increase compensation limits for injuries sustained in the course of employment, and to extend the compensation payable to cover expenditure facilitating early return to work…
Allen & Gledhill, 27 May 2015
AML/CFT obligations of corporate service providers under ACRA’s enhanced regulatory framework
The ACRA (Amendment) Act 2014 introduces various new provisions which seek to enhance the regulatory framework for corporate service providers which serve mainly to ensure alignment with the international standards on anti-money laundering...
Shook Lin & Bok LLP, 22 May 2015
Remote Gambling Act 2014: MAS issues new payment blocking order encompassing merchant banks and finance companies
The Payment Blocking Order imposes certain obligations on financial institutions in relation to relevant persons, i.e. any account holder of an FI that is notified by the MAS to the FI as a Relevant Person for the purposes of the Order...
Allen & Gledhill, 21 May 2015
SHC: Can minority shareholders veto proposals by refusing to attend meetings?
The SHC in Lim Yew Ming v Aik Chuan Construction  SGHC 101 allowed the plaintiff to proceed with a meeting of one, and that a minority shareholder’s refusal to attend meetings amounts to an “impracticability in calling or conducting a meeting”...
Rajah & Tann, 31 Jul 2015
IPOS Case Summary: Lonza Biologics Tuas Pte Ltd v Genpharm International Inc  SGIPOS 13 (whether there was insufficient disclosure and lack of inventiveness)
The ground of challenge for lack of inventive step was found to have been successfully established as the affinity values that the patent reported were already claimed in a previous abandoned patent…
Intellectual Property of Singapore, 30 Jul 2015
SCA: Anti-suit injunction in aid of arbitration proceedings: Principles and practice
This executive summary looks at the case law of anti-suit injunctions in arbitration proceedings, specifically R1 International Pte Ltd v Lonstroff AG  1 SLR 521...
Law Society of Singapore, 28 Jul 2015
SHC considers different types of extrinsic evidence in construing lease pursuant to variation
The SHC in HSBC Trustee v Lucky Realty  SGHC 93 considered the admissibility of various types of extrinsic evidence and whether such evidence could be used as an aid to the construction of the Deed of Variation read together with the lease…
Allen & Gledhill, 28 Jul 2015
Singapore Medical Council disciplinary process – A study of a recent case
This executive summary dissects the various cases that have come before the disiplinary committee and issues that have arisen as a result of their decisions…
Rodyk & Davidson, 27 Jul 2015
CCS investigations lead to voluntary removal of exclusive arrangements in cord blood bank industry
Voluntary commitments requires Cordlife to remove its existing exclusive arrangements with baby fair organisers and private maternity hospitals and to confirm that the affected baby fair organisers and hospitals have been informed of the change...
Allen & Gledhill, 23 Jul 2015
SHC interprets s 194 Companies Act and dismisses attempt to remove member from company share register
The SHC in Lee Siew Ngug v Lee Brothers  SGHC 106 held that the time limit to rectify a share register under s 194 was applicable. As the defendant had been a member of Lee Brothers for more than 50 years, it was too late for the plaintiff to remove
Allen & Gledhill, 22 Jul 2015
CCS issues first proposed infringement decision in financial industry against 10 financial advisory companies
Companies had caused a securities dealer and a financial adviser to withdraw its offer of a 50% commission rebate on life insurance products on the Fundsupermart.com website…
Allen & Gledhill, 21 Jul 2015
SHC: The criteria for amendments to patents
The SHC in Ship’s Equipment Centre Bremen v Fuji Trading  SGHC 15 held that even if the requirements for amendment under the Patent Act are fulfilled, it still retains a discretion to reject any proposed amendment…
Rajah & Tann, 20 Jul 2015
SHC determines proprietary interests of customers of insolvent brokerage firm, MF Global Singapore Pte Ltd
The SHC in MF Global Singapore v Vintage Bullion DMCC  SGHC 162 held that the firm's assets were not held on trust, and the customers would only stand as unsecured creditors in respect of claims of proprietory interest in those assets…
Baker & McKenzie.Wong & Leow, 16 Jul 2015
SHC: What is the “security” that is required to be specified in a statutory demand under the Bankruptcy Rules?
The SHC in Chan Siew Lee Jannie v Australia and New Zealand Banking Group  SGHC 157 had to decide on the meaning of “security” under r 98(2)(c) of the Bankruptcy Regulations...
RHTLaw Taylor Wessing LLP, 15 Jul 2015
Case comment on Li Siu Lun v Looi Kok Poh  SGHC 149
The SHC in Li Siu Lun v Looi Kok Poh  SGHC 149 dealt with the issue of whether a plaintiff can claim, as compensatory damages, the expenses he incurred in investigating into his pending claim in the tort of conspiracy...
Singapore Law Blog, 14 Jul 2015
Strata Titles Board finds management corporation’s refusal to allow subsidiary proprietor’s electrical upgrade improper and unreasonable, orders it to consent
The STB in Lee Lay Ting v MCST Plan No. 3414 ordered the MC to allow the subsidiary proprietor’s request to upgrade the electricity supply to her units, with the the MC having ignored relevant considerations, taken into account irrelevant...
Lee & Lee, 10 Jul 2015
SHC: Adjudication application filed before the expiry of the dispute settlement period held to be valid
SGHC in Newcon Builders v Sino New Steel  SGHCR 13 made a distinction between an adjudication application that is filed late and an adjudication application that is prematurely filed…
Lee & Lee, 08 Jul 2015
SHC upholds mandatory injunctions granted to Beauty World Plaza against subsidiary proprietor for unauthorised alterations
The SHC in The MCST Plan No 681 v Tan Yew Huat (HC/RAS 5/2015) upheld the first instance decision; it was reasonable for a management corporation to take action against one subsidiary proprietor as a "test case" with a view to proceeding against others...
Lee & Lee, 02 Jul 2015
SHC: Derivative actions and the requirement of good faith
The SHC in Petroships Investment v Wealthplus  SGHC 145 held that the plaintiff, in applying to take out a derivative action, had not acted in good faith within the meaning of s 216A(3)(b) Companies Act…
Rajah & Tann, 02 Jul 2015
Singapore and the relevance of sub judice contempt of court
This executive summary looks at whether the concept of sub judice, an area of law developed in the context of jury trials, is still relevant for bench trial jurisdictions like Singapore…
Law Society of Singapore, 01 Jul 2015
SCA affirms the principle of temporary finality in construction arbitrations
The SCA in PT Persuhaan Gas Negara (Persero) v CRW Joint Operation  SGCA 30 held that where there was an agreement to arbitrate construction disputes under the FIDIC Red Book, the binding but non-final decision of a Dispute Adjudication Board...
Baker & McKenzie.Wong & Leow, 24 Jun 2015
SHC: Clarity in effecting service outside of jurisdiction
The SHC in Humpuss Sea Transport v PT Humpuss Intermoda Transportasi  SGHC 144 provided much clarity not just in the procedure in effecting service of process overseas but also in contesting such service in Singapore...
Singapore Law Blog, 23 Jun 2015
Case Comment on Xia Zhengyan v Geng Changqing  SGCA 22
The SCA held that that fact that a contract was drafted by lay persons rather than lawyers or was initially drafted in a foreign language and not English is relevant to the interpretation of its terms…
Singapore Law Blog, 19 Jun 2015
SHC considers scope of own name defence in Trade Marks Act
The SHC in The Audience Motivation Company Asia v AMC Live Group China  SGHC 77 considered the scope of the own name defence in s 28 of the Trade Marks Act…
Allen & Gledhill, 18 Jun 2015
SCA: Rights under a licence agreement are contractual and not proprietary in nature
The SCA in Guy Neale v Ku De Ta SG Pte Ltd  SGCA 28 held that a licence to exploit a registered trade is purely contractual in nature and does not confer any proprietary rights on the licensee…
Drew & Napier LLC, 17 Jun 2015
IPOS Case Summary: The Polo/Lauren Company, L.P. v United States Polo Association  SGIPOS 10 (whether registration made in bad faith and marks are similar)
The grounds were dismissed as Opponents were not able to discharge the high burden of proof involved in an allegation of bad faith, and there would not be a likelihood of confusion between the marks...
Intellectual Property of Singapore, 17 Jun 2015
SHC: The financial services industry reference check system – to say or not to say…
The SHC in Ramesh s/o Krishnan v AXA Life Insurance  SGHC 125 found that the defendant could rely on the defences of justification and qualified privilege in answering a claim of defamation...
Rajah & Tann, 16 Jun 2015
SHC clarifies how service of process may be effected on foreign-domiciled defendants
The SHC in Humpuss Sea Transport v PT Humpuss Intermoda Transportasi  SGHC 144 clarified that personal or substituted service on a foreign defendant is permissible, as long as it does not contravene the law of the foreign jurisdiction…
Baker & McKenzie.Wong & Leow, 15 Jun 2015
SCA considers whether obligation to use reasonable endeavours to obtain consent of third party extended to taking further steps after consent had been initially refused
The SCA in The One Suites v Pacific Motor Credit  SGCA 21 found that the appellant had not breached its implied obligation to use all reasonable endeavours to obtain the requisite approvals of the relevant authorities...
Allen & Gledhill, 15 Jun 2015
SCA considers proper relationship between arbitral tribunals and the courts and restates principles of setting aside of arbitral awards
The SCA in AKN v ALC  SGCA 18 emphasised the policy of minimal curial intervention in arbitral proceedings, describing it as a mainstay of the Model Law and the Singapore International Arbitration Act…
12 Jun 2015
SCA: FIDIC contracts and the enforceability of interim arbitral awards in Singapore
The SCA in PT Perusahaan Gas Negara (Persero) TBK v CRW Joint Operation  SGCA 30 had to consider if "Interim Award" was an “award” as defined in s 2 International Arbitration Act, or was a provisional award that could subsequently be revoked or...
Drew & Napier LLC, 10 Jun 2015
[GBR] Consent: Time to say goodbye to Bolam and Sidaway?
The UK Supreme Court in Montgomery v Lanarkshire Health Board  2 WLR 768 held that the doctor’s duty to advise her patient of the risks of proposed treatment falls outside the scope of the Bolam test…
Law Society of Singapore, 10 Jun 2015
SHC clarifies sentencing principles for public sector and private sector corruption
The SHC in PP v Syed Mostofa Romel  SGHC 117 clarified that in determining an appropriate sentence for corruption, the court will take into account the specific nature of the corruption…
Baker & McKenzie.Wong & Leow, 05 Jun 2015
IPOS Case Summary: Ceramiche Caesar v Caesarstone Sdot Yam  SGIPOS 9 (whether marks similar)
The Registrar was of the view that the marks are somewhat similar visually and aurally but only conceptually similar to a low extent, and that the marks are more similar than dissimilar in totality...
Intellectual Property of Singapore, 04 Jun 2015
SHC: Service of process out of jurisdiction
The SHC in Omae Capital Management v Tetsuya Motomura  SGHCR 8 ruled that service documents, notifying a party of legal proceedings, by registered post was irregular under Japanese law…
Joseph Tan Jude Benny LLP, 04 Jun 2015
SHC provides guidance on the assessment of evidence in cases with limited documentation and emphasises fundamental principle of company law
The SHC in ARS v ART and ARU  SGHC 78 had to determine numerous factual disputes between the parties with limited contemporaneous documentary evidence…
Allen & Gledhill, 26 May 2015
SCA: Clause limiting injunctive relief to the ground of fraud upheld
The SCA in CKR Contract Services v Asplenium Land  SGCA 24 allowed a cross-appeal brought by Asplenium that a clause limiting injunctive relief to the ground of fraud did not amount to an attempt to oust the jurisdiction of the courts…
WongPartnership LLP, 25 May 2015
CCS clears first proposed joint venture for aircraft MRO services
CCS found that the proposed JV will not infringe s 54 of the Competition Act which prohibits mergers that have resulted, or may be expected to result, in a substantial lessening of competition within any market in Singapore…
Allen & Gledhill, 25 May 2015
SHC: The Chem Orchid: Proper termination of a bareboat charter party
In The “Chem Orchid”  SGHC 50, the SHC clarifies the position that a bareboat charter party can only be terminated by the actual (as opposed to constructive) physical redelivery of the vessel by the charterers to the owners…
Shook Lin & Bok LLP, 25 May 2015
SHC refuses injunction to restrain re-entry by landlord
The court in Tiananmen KTV (2013) v Furama  SGHC 83 found that the requirement for writing for dispositions of immovable property applied to an orally concluded collateral contracts and thus application for an interim injunction was rejected...
Allen & Gledhill, 21 May 2015
SHC: Employer successfully sues for breach of the implied term of good faith and fidelity and breach of confidence
The SHC in Tempcool Engineering v Chong Vincent  SGHC 100 held that for breach of confidence, the information in question must possess the necessary quality of confidentiality; must have been imparted or received in circumstances...
Baker & McKenzie.Wong & Leow, 20 May 2015
SHC: Employer successfully claims against employee for breaches of fiduciary duties but faces challenges in proving damages
The SHC in Enholco v Schonk, Antonius Martinus Mattheus  SGHC 20 allowed the plaintiff to claim against Mattheus for losses incurred by reason of the breaches of duties, and to claim for loss of profits...
Baker & McKenzie.Wong & Leow, 04 May 2015
SCA: Guidelines for judicial review of arbitral awards
In AKN v ALC  SGCA 18, the SCA restated the proper relationship between arbitral tribunals and the courts, reminding parties of the limits of judicial review of arbitral awards…
Baker & McKenzie.Wong & Leow, 04 May 2015
The relevance of age disparity in sexual offences relating to minors: AQW v PP  SGHC 134
The SHC in AQW v PP  SGHC 134 seems to have reversed the trend where the age gap between adult offenders who engage in sexual activity with minors is an aggravating factor in sentencing…
Singapore Law Watch, 10 Jul 2015
Latest developments: Pharmaceuticals and healthcare
This executive summary dwells on data privacy issues in wearable tech, public consultation on change notification guidance for medical devices, Myanmar regulatory regime of cosmetics products...
Baker & McKenzie.Wong & Leow, 31 Jul 2015
Singapore Legal Futures Conference 2015
This report aims to summarise some of the key points presented at the conference under the rubric of the underlying themes: rapid advancements in technology, internationalisation of legal practice, changing attitudes towards governance...
Singapore Law Blog, 31 Jul 2015
Tougher work pass controls for foreign PMEs and proposed amendments to the Employment Act
Measures cover the following areas: additional requirements and scrutiny for employment pass applications, tightened work pass controls for hiring foreign PMEs, wage support and reskilling for Singaporean PMEs and ...
Drew & Napier LLC, 30 Jul 2015
Financial institutions in Singapore to draw up “living wills”
Under MAS' Consultation Paper on Proposed Enhancements to Resolution Regime for Financial Institutions in Singapore, MAS will be empowered to require a financial institution to submit Recovery and Resolution Plans to restore the financial strength...
WongPartnership LLP, 29 Jul 2015
MAS paves the way for FinTech Innovation with SGD 225 million scheme
MAS has initiated the Financial Sector Technology & Innovation scheme to support innovation initiatives in the finance industry, specifically in the areas of cyber security, digital payment systems, regulatory reporting, smart surveillance systems...
Rajah & Tann, 27 Jul 2015
Personal Data Protection Commission issues new advisory guidelines and helpful guides
The additional guidelines focus on the requirement to obtain consent for marketing, protection of electronic personal data and managing of data breaches…
Allen & Gledhill, 27 Jul 2015
Legitimate expectations and good administration
This executive summary explores what preserving trust in public institutions would mean for the development of the doctrine…
Law Society of Singapore, 27 Jul 2015
IDA’s second consultation on allocation of spectrum for International Mobile Telecommunications services and enhancement of competition in mobile market
Proposals include to structure the spectrum allocation exercise to facilitate the entry of a new Mobile Network Operator and allocate a total of 225 MHz of spectrum...
Rajah & Tann, 24 Jul 2015
Scheme of arrangements – A tool for restructuring?
This executive summary looks at recent schemes of arrangement undertakeng by listed companies to implement internal restructuring exercises…
Rodyk & Davidson, 24 Jul 2015
The SICC: Competitor, companion or captain?
With the establish of the Singapore International Commercial Court, many have queried the rationale behind the SICC and whether it will only serve to compete with the SIAC…
Law Society of Singapore, 23 Jul 2015
The Fair Consideration Framework – ignore at your own peril
This executive summary provides an overview of government measures to increase its support for Singaporean professional managers & executives in the form of the Framework, and lists some of the key requirements under it…
Rajah & Tann, 21 Jul 2015
The crowdfunding landscape in Singapore
This executive summary looks at the nature of crowdfunding and the regulations that govern it…
Rodyk & Davidson, 20 Jul 2015
MAS issues revised MAS Notice 648 giving Singapore incorporated banks more operational flexibility in issuing covered bonds
Areas of change include the new Declaration of Trust structure of the bond programme, limits on cash and cash equivalents and the loan-to-value limit of residential mortgage loans...
Allen & Gledhill, 20 Jul 2015
Latest developments: Bankruptcy; capital markets; IP; sentencing; real estate; digital goods and services
This executive summary deals with the Bankruptcy Regulations in relation to the definition of "security, raising capital for tech start-ups, data protection, contracts drafted by unadvised laypersons…
RHTLaw Taylor Wessing LLP, 16 Jul 2015
London Roundtable on “The Future of Dispute Resolution in Asia”
This executive summary recounts certain key themes and ideas that surfaced at the roundtable discussion, namely, current and future leading seats for disputes in Asia, demography and renewal in the practice of international arbitration...
Singapore Law Blog, 15 Jul 2015
Singapore Government further tightens the rules with respect to hiring foreigners: How would these changes affect employers?
The key changes include employers being required to publish the salary range of the job vacancy they post in the Jobs Bank, MOM increasing scrutiny of Employment Pass applications; employer being able to apply for wage support for employing...
Baker & McKenzie.Wong & Leow, 15 Jul 2015
MAS confirms changes to be made to the regulatory regime for REITs and REIT managers
This executive summary comprises a table summarising the proposals that MAS will be proceeding with and those it has either modified or decided not to proceed with…
WongPartnership LLP, 14 Jul 2015
Consultation on amendments to the Singapore Code on Take-Overs and Mergers
Key proposed changes include in a competitive offer scenario, all offerors will be bound by the timetable established by the despatch of the last competing offer document, adoption of a default auction procedure in a competitive offer scenario…
Drew & Napier LLC, 10 Jul 2015
Latest developments: Financial services
This executive summary looks at the latest developments in FATCA, the Financial Advisors (Amendment) Bill and the Insurance (Amendment) Bill; AML/CFT regulation, the Asia Region Funds Passport and the review of the accident and health insurance framework
WongPartnership LLP, 07 Jul 2015
Latest developments: OECD BEPS; bribery; insolvency; real estate ownership in Vietnam; choice of court agreement
This executive summary highlights the effect of the Base Erosion and Profit Shifting on multinationals, guidelines for custodial sentences for private corruption cases in Singapore, liquidators’ powers to investigate corporate wrongdoings…
Morgan Lewis Stamford LLC, 03 Jul 2015
Latest developments: Pharmaceuticals and healthcare
This executive summary addresses the Bioethics Advisory Committee's new ethical guidelines for human biomedical research, seizure of and alerts on illegal health products, Myanmar's regulatory regime for medical devices…
Baker & McKenzie.Wong & Leow, 30 Jun 2015
MERS: Potential charterparty implications
Whether the outbreak will have legal implications on a charterparty will very much depend on the wording of the charterparty; standard form charterparties are unlikely to include wording dealing with outbreaks of infectious/contagious disease…
Clyde & Co, 30 Jun 2015
MAS Notices revised to facilitate sale of investment funds that make limited use of derivatives
These funds are prescribed as “Excluded Investment Products” and may now be sold to retail investors without an assessment of these investors’ investment knowledge or experience…
Allen & Gledhill, 30 Jun 2015
New Singapore custom requirement for keeping & maintaining records in image systems
The additional requirement provides that the storage system used must include proven hardware and software components reputable for security, quality and performance…
Baker & McKenzie.Wong & Leow, 26 Jun 2015
MAS proposes to exempt Remote Clearing Members of Singapore-based central clearing counterparties from requirement to hold CMS licence
The MAS intends to exempt a Remote Clearing Member which clears futures contracts on a Singapore-based CCP from the requirement to hold a CMS licence in respect of trading in futures contracts under certain conditions…
Allen & Gledhill, 26 Jun 2015
MAS publishes framework for domestic systemically important banks (D-SIBs) in Singapore
Under the D-SIB framework, all banks licensed in Singapore will be assessed for their systemic importance, which includes all locally-incorporated banks (including subsidiaries of foreign banks) and foreign bank branches in Singapore…
Allen & Gledhill, 24 Jun 2015
IRAS updates on FATCA filing deadline for Reporting Year 2014
While Income Tax (International Tax Compliance Agreements)(United States of America) Regulations 2015 requires Reporting Singapore-based financial institution to submit a return in relation to every US reportable account it maintains on or before 31 May
Allen & Gledhill, 23 Jun 2015
Transfer of intellectual property — some quick tips
This executive summary gives a step-by-step guide to the IP transferring process…
Colin Ng & Partners, 23 Jun 2015
Practical guidance on using an intellectual property holding company
This executive summary looks at tax issues relating to IP creation, development and acquisition, including the availability of deductions for expenditure on IP in Singapore…
Colin Ng & Partners, 19 Jun 2015
Practical aspects of the revised and new Anti-Money Laundering Notices for Banks and Credit Card/Charge Card Licensees issued by MAS
This executive summary focuses on MAS 626 Notice to Banks on the Prevention of Money Laundering and Countering the Financing of Terrorism….
Colin Ng & Partners, 18 Jun 2015
MAS consults on Regulatory Framework for Intermediaries Dealing in OTC Derivative Contracts
The consultation proposes the detailed licensing and regulatory framework for intermediaries dealing in OTC derivative contracts…
WongPartnership LLP, 16 Jun 2015
New AML/CFT predicate offences, effective 3 June 2015
Several of these newly prescribed serious offences have important implications for banks, financial institutions, directors and employees of companies…
WongPartnership LLP, 15 Jun 2015
SGX announces plan to introduce “comply or explain” framework for sustainability reporting
The SGX, in recognising increased global interests in sustainability issues, plans to increase the transparency of governance with sustainability reporting on a “comply or explain” basis…
Allen & Gledhill, 12 Jun 2015
IP due diligence in M&A transactions
Intellectual Property due diligence includes not only understanding the type and nature of the other party’s IP, but also knowing the strengths and weaknesses in their IP…
Intellectual Property of Singapore, 11 Jun 2015
Singapore merger regime: Notification not compulsory but highly recommended?
This article provides a quick recap of the merger regime in Singapore and looks back to the recent activity by the Competition Commissin of Singapore on the merger front, while highlighting a few important points businesses need to be alert to…
Law Society of Singapore, 11 Jun 2015
CCS publishes Paper on Auction Design and Competition Concerns
The paper focuses on the competition concerns that may arise in various forms of auction designs, and references real-life examples in public and private sector auctions where auction design may have resulted in collusion between bidders or monopoly power
Allen & Gledhill, 10 Jun 2015
CCS consults on proposed extension of block exemption order for liner shipping agreements
Public consultation seeks views on the possible impact of the proposal on the Singapore economy, in particular on players in the maritime industry such as shippers, port operators, liners, and logistics service providers…
Allen & Gledhill, 09 Jun 2015
Considerations in tax planning for IP assets: Maximising value through better IP tax planning
This executive summary discusses how companies can restructure their IP holdings and leverage on opportunities to achieve better overall tax efficiency…
Intellectual Property of Singapore, 09 Jun 2015
An offender’s lack of antecedents: A closer look at its role in sentencing
This article examines the role an offender’s lack of antecedents should play in the offender’s sentencing. It is argued that all an offender’s clean record should do is to reduce or obviate the need to effect specific deterrence...
Law Society of Singapore, 09 Jun 2015
The fair tenancy framework: A step in the right direction
Fair Tenancy Framework is a new initiative introduced by the Singapore Business Federation to establish a set of clear leasing guidelines and negotiation principles for small businesses looking to rent non-residential premises…
RHTLaw Taylor Wessing LLP, 09 Jun 2015
Consultation Paper on Review of Accident & Health Insurance Regulatory Framework
The review proposes changes to the regulatory framework foraccident and health insurance to govern the underwriting and distribution of insurance policies that contain A&H benefits…
Baker & McKenzie.Wong & Leow, 08 Jun 2015
Interpreting s 292(1)(a) of the Penal Code
This commentary disects s 292(1)(a) of the Penal Code in relation to PP v Amos Yee Pang Sang and discusses the interpretation of that subsection…
Singapore Law Watch, 08 Jun 2015
Housing developers to meet new requirements for show flats, standard forms, and governance
Some key amendments to the subsidiary legislation of the Housing Developers (Control and Licensing) (Amendment) Act include changes to the Option to Purchase and the Sale and Purchase Agreement, new requirements for show flats…
WongPartnership LLP, 05 Jun 2015
Consultation paper on changes to regulatory framework for accident & health insurance
Revisions deal mainly with the governing of Medisave-approved Integrated Shield Plans: enhancing disclosure requirements, strengthening protection measures for policyholders and improving the quality of conduct of intermediaries selling A&H insurance...
Rajah & Tann, 05 Jun 2015
Facilitating securities-based crowdfunding in Singapore
This executive summary highlights the trend of crowdfunding in Singapore and focuses on securities-based crowdfunding (SCF) and the challenges and implications in regulating SCF in Singapore…
RHTLaw Taylor Wessing LLP, 05 Jun 2015
Regulating new technologies and their real world impacts: The Uber example
This executive summary when and how to regulate techonologies, on the one hand, and when to remove or revise existing regulations, on the other hand…
Intellectual Property of Singapore, 03 Jun 2015
Latest developments: Developmental guidelines for care of seniors; information to patients; Interpol orange notice on potentially lethal diet pills
This executive summary looks at guidelines for centre-based care and home care providers for delivering quality care for seniors, SMC's fine of a doctor who failed to give his patient sufficient information on his varicose vein treatment…
Baker & McKenzie.Wong & Leow, 03 Jun 2015
Latest developments: Wilful default of their fiduciary duties; production of company records; return of confidential information
This executive summary looks at case law pertaining to indemnity in a constitution covering covered liability for any wrongful or negligent acts or omissions unless it was due to “wilful neglect or default”…
WongPartnership LLP, 03 Jun 2015
Launch of web aggregator of life insurance products and sale of direct purchase insurance products
compareFIRST is the initiative under the Financial Advisory Industry Review whereby consumers can compare Direct Purchase Insurance products that are sold without commissions and financial advice…
Allen & Gledhill, 03 Jun 2015
Non-eligibility period for retrenchment benefits in Employment Act down from three to two years
The change is made in line with shorter employment tenures. No employee who has been in continuous service with an employer for less than two years will be entitled to any retrenchment benefit...
Allen & Gledhill, 02 Jun 2015
MAS to phase in borrowing limit on unsecured credit over four years
Financial institutions will not be allowed to grant further unsecured credit to an individual whose unsecured borrowings exceed the prevailing borrowing limit for three consecutive months...
Allen & Gledhill, 26 May 2015
MAS Notice on anti-money laundering & countering the financing of terrorism
This executive summary discusses the revised MAS Notice 1014 relating to merchant banks; key additions and amendments which have been made to the notice will be highlighted in this update...
Rajah & Tann, 20 May 2015
[CHN] Supreme People's Court issues long-awaited clarification on CIETAC split
The SPC notice clarifies the validity of arbitration agreements and the enforceability of arbitral awards involving the China International Economic and Trade Arbitration Commission and its former sub-commissions in Shanghai and Shenzhen…
Freshfields Bruckhaus Deringer, 23 Jul 2015
[EU] Most-favoured nation clauses and anti-competitive rebates
This executive summary examines two European competition cases and how positions taken in relation to Most Favoured Nation clauses and rebate schemes may be assessed under ASEAN competition laws…
Rajah & Tann, 22 Jul 2015
King v Philcox  HCA 19 (Tort, Negligence): catchwords
Tort – Negligence – Respondent’s brother was killed in a motor accident while a passenger in the Appellant’s vehicle due to Appellant’s negligence in driving
Singapore Management University, 14 Jul 2015
[GBR] Contractual interpretation: Shades of grey
The two elements for interpreting commercial contracts are the words used and the context in which the words were used. Where context once appeared to be king, the UK Supreme Court may now place greater emphasis on the words…
01 Jul 2015
[CHN] China’s tightened control on domain name registration services market
The "Policy Interpretation of Special Operations to Regulate Domain Name Registration Services Market" provides that certain special operations will be carried out by communications administration at all provinces, autonomous regions and...
Rajah & Tann, 30 Jun 2015
[SWE] Dual-institution provision in arbitration agreements and the principle of effective interpretation
The majority of the court in Government of the Russian Federation v I M Badprim S.r.l held that the basic agreement of the parties for their dispute to be resolved by arbitration was enforceable…
Singapore Law Blog, 25 Jun 2015
[GBR] UK Supreme Court holds doctor should have advised patient of risks of natural delivery of baby
The UK Supreme Court in Montgomery v Lanarkshire Health Board  UKSC 11 found that it was incumbent on the obstetrician to advise her patient of the risk of shoulder dystocia if her baby were to be delivered naturally…
Allen & Gledhill, 19 Jun 2015
[GBR] UK Supreme Court issues key ruling for liquidators bringing claims against fraudulent company directors
The UK Supreme Court in Jetivia v Bilta  UKSC 23 had to consider if a company was prevented from bringing a claim against its fraudulent directors because it had technically been a party to the illegal acts through its directors and shareholders...
Allen & Gledhill, 16 Jun 2015
[HKG] High Court confirms the effectiveness of non-reliance clauses in bank-customer contracts
The court dismissed a customer's mis-selling claim against the claimant in respect of the sale of financial products, confirming the applicability of contractual estoppel and non-reliance clauses in Hong Kong…
Clifford Chance, 12 Jun 2015
[MYA] Myanmar’s new competition law
The key prohibitions in the Competition Law include prohibition against anti-competitive acts, monopolisation of markets, unfair competition, collaboration among businesses…
Allen & Gledhill, 04 Jun 2015
[GBR] UK Supreme Court Press Summary: Starbucks (HK) v British Sky Broadcasting Group  UKSC 31 (whether respondents use of product name amounted to passing off)
The UKSC dismissed the appeal as the appellants could not establish goodwill of their business (a customer base) in the UK…
UK Supreme Court, 02 Jun 2015
Supreme Court Note
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