Legal Bulletin March 2018

28 March 2018

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Capital Markets

Singapore, Malaysian and Thai regulators sign MoU to enhance ASEAN CIS Framework to give retail investors wider access to fund managers 

Securities and Futures Act substantial shareholding notification requirements extended to substantial unitholders of unlisted business trusts

Competition

Parliament passes Competition (Amendment) Bill empowering CCS to accept legally binding commitments, provide confidential advice for anticipated mergers and conduct general interviews during inspections and searches

Employment

MOM announces changes to Employment Act framework by April 2019; S Pass minimum salary to increase

MOM, NTUC and SNEF issue Tripartite Standards on contracting with self-employed persons and unpaid leave for unexpected care needs

Intellectual Property

Budget 2018: Tax changes to encourage innovation

General

MAS consults on proposed guidelines to protect users of e-payments

Singapore participates in APEC Cross-Border Privacy Rules and Privacy Recognition for Processors Systems: Apply for certification in 2019

Cybersecurity Act 2018 gazetted, but not yet in force

Carbon Pricing Bill passed in Parliament, imposing carbon tax

Criminal Justice Reform Bill passed in Parliament: Framework for deferred prosecution agreements and enhancements to computer-related powers of investigation

Parties sign Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Vulnerable Adults Bill introduced in Parliament

Singapore Court of Appeal declines to order restitution of payment made in anticipation of conclusion of contract

Regional News

Malaysia

New corporate rescue mechanism in force from 1 March 2018 introduces judicial management schemes and corporate voluntary arrangements

Bank Negara Malaysia issues policy document for digital currencies

Bank Negara Malaysia issues discussion paper on responsibility mapping

Myanmar

Myanmar IP Bills passed by Parliament’s Upper House, clearing first hurdle to becoming law

China

Administration Measures for Enterprise Outbound Investments in effect in China from 1 March 2018

Publications

The Cartels and Leniency Review: Singapore chapter

Awards & Rankings

Allen & Gledhill wins major awards at IFLR Asia Awards 2018

Allen & Gledhill recognised at The Asian Lawyer Asia Legal Awards 2018

Allen & Gledhill Intellectual Property practice maintains top tier rankings for patent work in Managing IP’s IP Stars 2018