Legal Updates for Sep - 2016
This Update provides an update with respect to regulating public-private partnership ("PPP") investments in Vietnam. It sets out the salient features of a Ministry of Investment and Planning-issued Circular for a more comprehensive legal framework for deploying PPP in practice.30 Sep 2016 | Vietnam
The Hague Convention establishes an international legal regime for upholding choice of court agreements in international civil or commercial cases among Contracting States. One of the most significant effects of the Hague Convention is that court judgments emanating from a Contracting State must now be recognised and enforced in another Contracting State, subject to very limited exceptions. This update focuses on this latter enforcement aspect of the Hague Convention. 28 Sep 2016 | Singapore
Since 8 September 2016, Cambodia has acceded to the Patent Cooperation Treaty ("PCT") and became the 151st member of the PCT. This Update summarises the key points of the PCT.22 Sep 2016 | Cambodia
On 24 August 2016, the Ministry of Economy and Finance issued Prakas No.965 on the Management of Residential Development Business (“Prakas No.965”) to substitute its previous Prakas on Real Estate Development Business - the Prakas No.1222 dated 15 December 2009. This Update summarises the key changes to the residential development business in Cambodia under the Prakas No.965.22 Sep 2016 | Cambodia
In recognition of the reality that a taxpayer’s disclosures made in the context of the Tax Amnesty could reveal that they are in fact the controlling shareholder of a public company, thus automatically triggering the need for a mandatory tender offer under the provisions of Capital Markets & Financial Institutions Supervisory Board Rule IX.H.1, the Financial Services Authority (“OJK”) has issued a Circular to exempt an amnesty participant from the need to conduct a tender offer in the case of a (de facto) acquisition that becomes apparent as a result of Tax Amnesty disclosures.
Further, a public company that becomes aware that it has a new controlling shareholder as a result of disclosures made under the Tax Amnesty is exempted from the requirement to disclose material information and facts under OJK Regulation No. 31/POJK.04/2015.22 Sep 2016 | Indonesia
The House of Representative (“DPR”) passed the Patents Bill into law on 27 July 2016. The new legislation (“2016 Patents Law”) is aimed at stimulating innovation and growth in the number of patents granted to Indonesian inventors from both the public and private sectors, while placing an express obligation on patent holders to use their patented processes or manufacture their patented products in Indonesia. The 2016 Patents Law further streamlines the patenting process and introduces the possibility of engaging independent experts as patent examiners in anticipation of rapid developments in the technological, communications, information and health sectors. As of the time of writing (2 September 2016), the 2016 Patents Law had yet to be gazetted and provided with a reference number.06 Sep 2016 | Indonesia
This Update provides an overview of the recent key legislative and regulatory developments in Thailand. It also lists down some useful published materials in employment law and international trade law written by Rajah & Tann Thailand partners.02 Sep 2016 | Thailand
MAS Seeks Feedback on Proposals for Activity-Based Payments Framework and New National Payments CouncilOn 19 August 2016, Mr Ravi Menon, the Managing Director of the Monetary Authority of Singapore ("MAS") delivered a keynote address on "An Electronic Payments Society", setting out the roadmap for the future electronic payments framework in Singapore.
In his speech, Mr Menon outlined four key strategies to create an e-payments society, namely, streamlined regulation, inclusive governance, inter-operable infrastructure and pervasive digitization. These strategies are aimed at streamlining and strengthening the regulatory framework, establishing a new governance model for payments, and enhancing the adoption of electronic payments.
MAS subsequently published a consultation paper on the "Proposed Activity-Based Payments Framework and Establishment of a National Payments Council". The consultation ends on 31 October 2016.
This Update takes a look at the proposals in the consultation paper. 01 Sep 2016 | Singapore