Legal Bulletin April 2018

27 April 2018

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Capital Markets

SGX seeks comments on Listing Rules changes to introduce primary listing framework for dual class shares

Competition

New Competition and Consumer Commission of Singapore launched

Corporate / M&A

Stamp Duties (Agreements for Sale of Equity Interests) (Remission) Rules 2018 in effect from 11 April 2018

New framework under Companies Act for revision of defective financial statements from 20 April 2018

SGX RegCo launches SGX Fast Track programme for companies with good corporate governance standing

Dispute Resolution

MinLaw seeks feedback on third-party funding framework

FinTech

MAS and financial industry to develop guidance on responsible use of data analytics

Real Estate

URA consults on proposed regulatory framework for use of private residential properties as short-term accommodation

Restructuring & Insolvency

Singapore High Court rules that the “rolling charge” method is the preferred distribution method for proceeds of commingled goods

Singapore High Court grants limited recognition to foreign insolvency proceedings, holds that wider recognition is a breach of public policy due to existing Singapore injunction

General

Cross-Border Railways Act 2018 gazetted but not yet in force; Select Committee Report presented to Parliament

PDPC issues advisory guidelines on in-vehicle recordings used in transport services for hire

Regional News

Malaysia

Highlights of the Malaysian Anti-Fake News Act 2018

Malaysian Arbitration Act to be amended in line with 2006 amendments to UNCITRAL Model Law on International Commercial Arbitration

Malaysian Limitation Act to be amended to extend limitation period for actions for damages for negligence not involving personal injuries

Malaysian Competition Commission seeks public feedback on guidelines on intellectual property rights and competition law

Securities Commission Malaysia issues Guidelines on implementation of targeted financial sanctions relating to proliferation financing for capital market intermediaries

Scope of Malaysian Valuers, Appraisers and Estate Agents Act expanded to expressly regulate property managers

Myanmar

Myanmar DICA issues draft sample application forms for new electronic companies registry system

Publications

International Comparative Legal Guide to Enforcement of Foreign Judgments

News

Edwin Tong, SC of Allen & Gledhill to be appointed Senior Minister of State (Ministry of Law and Ministry of Health)

Awards & Rankings

Allen & Gledhill recognised in top 100 international arbitration practices worldwide

Allen & Gledhill Intellectual Property practice ranked as leading firm for copyright work in Managing IP’s IP Stars 2018

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