Legal Bulletin September 2018

27 September 2018

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Capital Markets

New Bill tabled to establish legal framework for VCC (S-VACC) tailored for CIS

Competition

CCCS and KPPU sign MoU on enforcement cooperation of competition law

CCCS provides guidance on competition assessment of airline alliance agreements

Construction & Engineering

Bill to amend Building and Construction Industry Security of Payment Act introduced to enhance fast and low-cost dispute resolution mechanism

Corporate / M&A

Singapore Court of Appeal sets out framework governing oppression claims featuring personal wrongs against shareholder as well as corporate wrongs against company

Singapore Court of Appeal considers circumstances where appropriate to find parent company liable for inducing subsidiary’s breach of contract

Dispute Resolution

English Court of Appeal holds documents and materials from internal investigations covered by legal professional privilege

Intellectual Property

Intellectual Property (Border Enforcement) Act 2018 partially in force on 10 October 2018

IPOS consults on proposed Geographical Indications Rules

Maritime & Aviation

Bill to amend Companies Act to exempt shipowner’s lien from section 131 registration requirement passed

Public Policy

Key insights on initiatives and developments following National Day Rally 2018

Restructuring & Insolvency

Insolvency, Restructuring and Dissolution Bill introduced to unify personal and corporate insolvency laws into new omnibus Act

Tax

Bill to amend Stamp Duties Act to levy stamp duty on electronic records passed

Bill to amend Income Tax Act tabled to implement tax changes in Budget Statement 2018 and other changes

White Collar & Investigations

MinLaw conducts public consultation on recommendations for reform of Penal Code: Key changes impacting corporations

MinLaw proposes new AML/CFT regime for precious stones and metals dealers

General

Cybersecurity Act 2018 operative from 31 August 2018 to protect critical information infrastructure against cybersecurity threats

Bills to amend Electricity Act and Gas Act introduced in Parliament

Provisions in Mental Capacity Act on professional donees and professional deputies in force from 1 September 2018

Singapore Court of Appeal expands on principles of Wrotham Park damages, including its conceptual basis, qualifying criteria and assessment of such damages

Regional News

Malaysia

Malaysian Sales Tax Act and Service Tax Act in force on 1 September 2018

Malaysian Land Public Transport (Amendment) Bill passed, not yet in force

Myanmar

Myanmar DICA issues standard criteria for provision of education services further to opening of sector to foreign investment

Publications

International Comparative Legal Guide to Business Crime 2019: Singapore chapter

The Restructuring Review: Singapore chapter

The Merger Control Review: Singapore chapter

Globalisation, Governance and Disruption

Personal Data and Customer Information in the Age of FinTech

Wrotham Park Damages - Principles and Practical Issues

Singapore Academy of Law Annual Review: Intellectual Property Law