Legal Updates for Jan - 2018
2017 has seen a considerable number of developments in the area of restructuring and insolvency in Singapore. Apart from legislative amendments to the bankruptcy and insolvency regime, the Singapore courts have also issued a number of significant decisions dealing with various aspects of insolvency law. In this Client Update, we highlight some of the notable decisions issued over the course of the past year in the areas of restructuring and insolvency.
31 Jan 2018 | Singapore
On 15 January 2018, the Government issued Decree No. 09/2018/ND-CP (“Decree 09”) detailing the Commercial Law regarding goods purchase and sale activities or goods purchase and sale-related activities of foreign-invested enterprises in Vietnam. Decree 09 took effect on 15 January 2018 replacing Decree No. 23/2007/ND-CP.
31 Jan 2018 | Vietnam
On 18 January 2018, the Ministry of Manpower ("MOM") issued a month-long public consultation on its latest review of the Employment Act. The Employment Act is reviewed regularly by the MOM and its tripartite partners, the National Trades Union Congress and the Singapore National Employers Federation, in view of changes in the labour force profile and employment landscape. This Update provides a summary of the key areas of review, as well as their possible implications on employers and employees.
30 Jan 2018 | Singapore
On 4 November 2017, the 29th Standing Committee of the National People's Congress approved proposed revisions to China's Anti-Unfair Competition Law ("AUCL 2017"). This is the first revision made to the AUCL since it first became effective in 1993. The AUCL 2017 came into effect on 1 January 2018, and this Update sets out the key amendments and their implications on businesses.
30 Jan 2018 | China
On 14 December 2017, the United States Federal Communications Commission ("FCC") voted to repeal the net neutrality regulations set in place during the Obama administration in 2015 ("2015 Regulations").
Net neutrality generally refers to network providers treating all sources of Internet content equally as well as consumers’ rights to access content and services on the Internet on a non-discriminatory basis. Generally, this means that Internet Service Providers ("ISPs") should not be allowed to block legal content of a consumer’s choice, throttle legal internet traffic to slower speeds or sell “fast lane” services to content providers who can pay more than others. Effectively, net neutrality seemingly creates a more level playing field for businesses.
This Update provides a summary of the changes to the United States' position on net neutrality, followed by our comments on the potential impact of the FCC decision to the net neutrality policies in certain parts of South-East Asia.
30 Jan 2018 | Malaysia
In Re Harish Salve and another appeal  SGCA 6, the Singapore Court of Appeal allowed the ad hoc admission of a Senior Advocate of India (the "Appellant") to argue issues of Indian law. Notably, this is the first time a foreign senior counsel has been admitted to argue issues of foreign law rather than Singapore law. The Appellant is also the first non-Queen's Counsel foreign lawyer to be admitted. The Appellant was successfully represented by Kelvin Poon, Alyssa Leong and Matthew Koh of Rajah & Tann Singapore LLP.
30 Jan 2018 | Singapore
The Indonesia Investment Coordinating Board (Badan Koordinasi Penanaman Modal or "BKPM") recently updated its regulations to streamline procedural and licensing requirements for investment companies. On 4 December 2017, BKPM issued Regulation No. 13 of 2017 on Guidelines and Procedures for Investment Facilities and Licensing ("Regulation 13"). Regulation 13 is effective from 2 January 2018 for BKPM and 2 July 2018 for regional investment coordinating bodies. Changes include: (i) providing for simplified licensing requirements for non-Industrial / construction businesses; and (ii) introducing greater leniency for property development businesses.
25 Jan 2018 | Indonesia
In Logachev Vladislav v Public Prosecutor  SGHC 12, the Singapore court issued its first judgment on sentencing for the offence of cheating at play under the Casino Control Act. Chief Justice Sundaresh Menon, delivering the judgment of the High Court, set out a framework to guide sentencing under this offence. The Appellant here successfully reduced his sentence, and was represented by Yusfiyanto bin Yatiman and Josephine Chee of Rajah & Tann Singapore LLP.
24 Jan 2018 | Singapore
The Corporate Governance Council ("CGC") has proposed amendments to the Code of Corporate Governance in a Consultation Paper published on 16 January 2018. As a result of the recommendations made by the CGC, the Singapore Exchange Limited ("SGX") has also proposed amendments to the SGX Listing Rules, as set out in the Consultation Paper. These amendments aim to tweak and tighten existing rules so as to improve the corporate governance practices of companies listed in Singapore. The question is have we gone far enough? The CGC and the SGX have invited interested parties to submit their views on the amendments by 15 March 2018. This Update provides a summary of the key changes proposed in the Consultation Paper.
23 Jan 2018 | Singapore
On 10 January 2018, the Singapore Parliament unanimously approved a motion for the appointment of a Select Committee to examine the issue of the deliberate perpetuation of online falsehoods and provide recommendations for measures to counter the spread of such falsehoods online. This Update describes the developments in the regulation of fake news in Singapore as well as our comments on the implications for businesses.
19 Jan 2018 | Singapore
On 15 January 2018, the Ministry of Economy and Finance issued an Instruction providing a summary and working examples of how the changes to the monthly tax on salary will be implemented.
18 Jan 2018 | Cambodia
On 8 January 2018, the Cybersecurity Bill (the "Bill") was introduced in the first Parliament sitting of 2018. The Bill takes into account the feedback received from a public consultation on the earlier draft Cybersecurity Bill ("Draft Bill"). This Update highlights the main changes between the Draft Bill and the Bill, and provides our preliminary comments on the same.
16 Jan 2018 | Singapore
On 4 November 2017, the 29th Standing Committee of the National People’s Congress approved proposed revisions to China’s Anti-Unfair Competition Law ("AUCL 2017"). This is the first revision made to the AUCL since it first became effective in 1993. The AUCL 2017 came into effect on 1 January 2018, and this Update sets out the key amendments and their implications on businesses.
16 Jan 2018 | Singapore
Welcome to the latest edition of our competition law updates, which captures important developments in the last quarter of 2017. The last quarter has been marked by several international mergers that have been scrutinised by competition authorities in various jurisdictions, with Singapore becoming even more active. A number of mergers are being reviewed in Singapore, with some moved into a Phase 2. In Europe, eagerly awaited decisions in the internet and technology sector have been released. In particular, the European Court of Justice in its Coty decision has now confirmed that it may be permissible under certain circumstances for businesses to ban internet sales on third party platforms. The German Federal Cartel Office has also preliminarily indicated that Facebook's collection and processing of user data could amount to an abuse of dominance. This Update provides short and easy to read write-ups on these developments, as well as other important legal developments across a number of key jurisdictions in the last quarter.
15 Jan 2018 | Singapore
Looking back on the year 2017, we are very excited to share with you the significant legal developments in the technology, media and telecommunications ("TMT") sector during the third and fourth quarters of 2017. This regional update aims to highlight the significant TMT-related legal developments in the ASEAN region, as well as in the key economies across the world.
15 Jan 2018 | Singapore
The Singapore Parliament on 9 January 2018 passed a bill that paves the way for the Singapore International Commercial Court to hear matters under the International Arbitration Act. This Update looks at the key aspects and implications of these changes.
10 Jan 2018 | Singapore
On 5 January 2018, the Competition Commission of Singapore issued an Infringement Decision and ordered a fine of approximately S$19.5 million dollars against five aluminium electrolytic capacitor manufacturers for engaging in anti-competitive agreements in Singapore. The fines are the largest thus far in an infringement decision that has been issued. The fines apart, the decision notably stresses the importance of a compliance programme and ensuring that this must have been in existence prior to the start of the investigation. Competition law in Singapore has definitely matured and businesses must ensure an understanding and compliance. This Update provides a summary of the decision and our further thoughts on the same.
09 Jan 2018 | Singapore
Indonesia's Central Bank, Bank Indonesia ("BI"), recently issued new rules governing the financial technology ("FinTech") sector to support innovation while maintaining customer protection and financial stability. The new regime introduces a regulatory sandbox that allows FinTech start-ups to test new products under controlled BI supervision.
Against the backdrop of a rapidly evolving FinTech landscape, BI recently updated its regulations governing the sector. The regulation's primary development is the introduction of a regulatory 'sandbox', a controlled program to test innovative FinTech services under the supervision of BI ("sandbox"). This update discusses the key implications of BI's latest regulations, and highlights specific details of the Financial Services Authority’s ("OJK") rules concerning Peer-to-Peer lending service providers ("P2P Providers").
05 Jan 2018 | Indonesia