Legal Updates for Nov - 2019Singapore
This update sets out the recent legal developments in Vietnam.29 Nov 2019 | Vietnam
As part of the implementation of President Joko Widodo's statement on the need to attract more investment into the country and his promise to make Indonesia more investment-friendly, the government will finally take a step to realise this promise by abandoning the Negative Investment List by January 2020.28 Nov 2019 | Indonesia
Court Rules Imprisonment to be Manifestly Excessive for First-time Offenders Convicted of Illegal Remote GamblingIn Lau Jian Bang v Public Prosecutor  SGHC 254, the High Court substituted the two-week imprisonment sentence handed to the Appellant with the maximum fine of S$5,000 on each of his two charges under section 8 of the Remote Gambling Act ("RGA"). Crucially, the High Court found that imprisonment was an inappropriate punishment for first time remote-gambling offenders who are punters. This decision is significant as it sets out a clear sentencing framework for offenders under section 8 of the RGA, superseding all previous sentencing precedents (which the High Court felt were inconsistent). The High Court's decision also explored the legislative intent behind criminalising remote gambling activities, and whether such intent could only be fulfilled by imposing custodial sentences on offenders. 26 Nov 2019 | Singapore
The key benefits of the EUSFTA include:
(a) Elimination of tariffs between the EU and Singapore;
(b) Removal of unnecessary technical barriers to trade; and
(c) Liberal and flexible rules of origin.
The EU is Singapore’s largest foreign investor and services trading partner, and third-largest goods trading partner. This development opens new trade opportunities for businesses in Singapore and the EU.
If you would like to know more about the EUSFTA and its provisions, please see our earlier Client Update. 23 Nov 2019 | Singapore
The Ministry of Commerce ("MOC") has issued Notification No. 4228 MOC.EID dated 30 October 2019 to alert all exporters who intend to export all kinds of goods to the European Union under the Everything But Arms (EBA) initiative and Generalised System of Preferences (GSP) of Norway, Switzerland and Turkey, to register on the Registered Exporter System ("REX System") with MOC latest by 31 December 2019.19 Nov 2019 | Cambodia
The Supreme Court recently issued a decision cancelling a settlement agreement despite creditors' approval. PT Bank CIMB Niaga Tbk. ("CIMB") had filed an application to the Supreme Court to cancel the settlement agreement of PT Arpeni Pratama Ocean Line Tbk. ("APOL"), despite approval from the majority of APOL's creditors to amend such agreement.
In the first instance, CIMB's application to cancel the court-approved settlement agreement was rejected by the Commercial Court, which found the amendment to be valid and binding on all parties. The Supreme Court subsequently overturned the Commercial Court's decision based on the following considerations:
(i) a court-approved settlement agreement must be treated in the same manner as a final and binding court decision, and therefore it cannot be amended privately by the parties; and
(ii) amendment to the court-approved settlement agreement contradicts the fairness and equity principle in bankruptcy law as it nullifies the assurance of debtor's performance under the settlement agreement.12 Nov 2019 | Indonesia
The Indonesian Government has enacted a new law on water resources, Law No. 17 of 2019 on Water Resources("2019 Law"), which replaced the previous Law No. 11 of 1974 on Irrigation. The 2019 Law explicitly states that water resources must be controlled by the state and used for the utmost prosperity of the community. Therefore, individuals, community groups or business entities cannot possess or control water resources, and control remains with the central and regional governments. It further emphasises that society's right to water as guaranteed by the state is not to be interpreted as a title over water resources, but rather a right to receive and use water.08 Nov 2019 | Indonesia
China Passes New Cryptography Law as Part of Greater Effort to Develop and Apply Blockchain Technologies
On 26 October 2019, China's top legislative body, the Standing Committee of the National People's Congress, voted to adopt the Cryptography Law of People’s Republic of China (中华人民共和国密码法) ("Cryptography Law"). The law will come into force on 1 January 2020. This Update takes a look at the key aspects of the Cryptography Law.07 Nov 2019 | China
China Passes New Cryptography Law as Part of Greater Effort to Develop and Apply Blockchain TechnologiesOn 26 October 2019, China’s top legislative body, the Standing Committee of the National People's Congress, voted to adopt the Cryptography Law of People’s Republic of China (中华人民共和国密码法) ("Cryptography Law"). The law will come into force on 1 January 2020. This Update takes a look at the key aspects of the Cryptography Law. 07 Nov 2019 | Singapore
The Minister of Energy and Mineral Resources has issued Minister of Energy and Mineral Resources Regulation No. 12 of 2019 on Capacity of Electricity Generator for Private Interest Based on Operational Permit ("New Regulation") to revise the licensing requirements for the use of generators. Pursuant to the New Regulation, users must only obtain an operational permit if they operate a generator above 500 kVA.
The Indonesian Electricity Law, Law No. 30 of 2009 on Electricity, and its implementing regulation, Government Regulation No. 14 of 2012 on Electricity Supply Business Activities, as amended by Government Regulation No. 23 of 2014, has always required an operational permit(izin operasi) for generators above 200 kVA if such generators are used for private purposes, which include utilisation as a main, reserve, emergency, or temporary power source.05 Nov 2019 | Indonesia