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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Drew & Napier LLC

View the listing for Drew & Napier LLC

Overview of the Singapore Cartel Regulation 2017 - article in GTDT

February 2017 - EU & Competition. Legal Developments by Drew & Napier LLC .

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Overview of the Singapore Cartel Regulation 2017 - article in GTDT

1 Feb 2017

Global Competition Review/ Getting The Deal Through Cartel Regulations 2017

The chapter comprehensively covers topics such as the extent of the Competition Commission of Singapore’s (CCS) investigative powers, the process for seeking immunity under Singapore’s leniency programme, the treatment of confidential or commercially sensitive information, the appeal process and the extent that civil damages actions can be sought for losses as a result of a cartel.

Third Party Funding in International Arbitration and What It Means for You: Civil Law (Amendment) Bi

February 2017 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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1 Feb 2017

On 10 January 2017, Parliament passed the Civil Law (Amendment) Bill (No. 38/2016) (“Bill”) into law. The Bill is not yet in force and will only come into operation on a date to be notified in the Government Gazette.

Drew & Napier Data Protection Quarterly Update Q4/2016

January 2017 - Employment. Legal Developments by Drew & Napier LLC .

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Drew & Napier Data Protection Quarterly Update Q4/2016

10 Jan 2017

Drew & Napier’s Telecommunications, Media and Technology Practice Group is pleased to present the latest issue of our Data Protection Quarterly Update.

Applicable Test: Application for leave under s216A of the Companies Act to intervene in on-going pro

January 2017 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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Applicable Test: Application for leave under s216A of the Companies Act to intervene in on-going proceedings

17 Jan 2017

The recent Court of Appeal decision in Chong Chin Fook Solomon Alliance Management Pte Ltd and others [2017] SGCA 5 raised a significant point of law in respect of the legal criterion to be applied in an application by a shareholder of a company under s 216A of the Companies Act for leave of court to control conduct of on-going proceedings on behalf of the company.

Competition Law Quarterly Update Q3/2016

January 2017 - EU & Competition. Legal Developments by Drew & Napier LLC .

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Competition Law Quarterly Update Q3/2016

16 Dec 2016

In this issue, the Competition & Regulatory Practice Group wraps up some of the major developments in the competition law world from the third quarter of 2016. 

The Group also outlines the key amendments to the Guidelines of the Competition Commission of Singapore, and highlight some of the potential implications for businesses.

To read the update, please click here.

Recovery of Third Party Funding Fees as Costs of the Arbitration

October 2016 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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12 Oct 2016

In the recent case of Essar Oilfields Services v Norscot Rig Management [2016] EWHC 2361, the English High Court held that a tribunal has the power under s 59(1) of the English Arbitration Act 1996 to award the cost of third-party litigation funding as costs of the arbitration.

To read the update, please click here

SGHC dismisses applications to set aside arbitral awards on the ground that there was no contract

October 2016 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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10 Oct 2016

In the recent High Court decision of Jiangsu Overseas Group Co Ltd v Concord Energy Pte Ltd and another matter [2016] SGHC 153, the High Court considered issues arising from a challenge against arbitral awards on the ground that there was no contract between the parties.

The High Court also clarified that a party which deliberately allowed the arbitration to proceed in its absence should not be permitted to use that fact as a reason to apply for oral testimony to be given and cross-examined in challenge proceedings in court.

Drew & Napier Data Protection Quarterly Update Q3/2016

October 2016 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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Drew & Napier Data Protection Quarterly Update Q3/2016

29 Sep 2016

Drew & Napier’s Telecommunications, Media and Technology Practice Group is pleased to present the latest issue of our Data Protection Quarterly Update.

Promissory Note Holders Not Bound by Arbitration Clause in Underlying Contract

September 2016 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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This update discusses the recent case of Rals International Pte Ltd v Cassa di Risparmio di Parma e Piacenza SpA [2016] SGCA 53 where the Singapore Court of Appeal upheld the decision of the High Court that the assignee’s claim based on a number of promissory notes did not fall within the scope of the arbitration agreement in the underlying Supply Agreement. The assignee of such notes was therefore free to litigate in the courts.

This decision is of significance given the widespread use of promissory notes and other negotiable instruments, especially for our clients who are involved in international commercial and shipping transactions.

Please click here to read the article.

Personal Liability for False Declarations in Work Pass Applications - Recent Spate of Prosecutions

August 2016 - Employment. Legal Developments by Drew & Napier LLC .

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Personal Liability for False Declarations in Work Pass Applications - Recent Spate of Prosecutions

23 Aug 2016

In a period of one month between 20 June and 21 July this year, 19 employers have been convicted for false declaration of salary offences.

Competition Law Quarterly Update Q2/2016

July 2016 - EU & Competition. Legal Developments by Drew & Napier LLC .

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Competition Law Quarterly Update Q2/2016

4 Jul 2016

In this issue, the Drew & Napier Competition & Regulatory Practice Group round up some of the major developments in the competition law world from the first quarter of 2016.

Data Protection Quarterly Update Q2/2016

July 2016 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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Data Protection Quarterly Update Q2/2016

30 Jun 2016

In this latest issue of our Data Protection Quarterly Update, the Telecommunications, Media and Technology Practice Group summarises several new guides published by the Personal Data Protection Commission (PDPC), and examine the 11 recent enforcement decisions by the PDPC. In addition, they highlight noteworthy developments in the area of data protection in several other jurisdictions, which may provide guidance for businesses in managing data protection obligations.  

How businesses can avoid infringing Competition Law - article in Lianhe Zaobao

June 2016 - EU & Competition. Legal Developments by Drew & Napier LLC .

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How businesses can avoid infringing Competition Law - article in Lianhe Zaobao

20 May 2016

How businesses can avoid infringing Competition law in Singapore? Director Lim Chong Kin provided some tips in the foremost Chinese language newspaper, Lianhe Zaobao on 19 May 2016. 

His timely article provides tips on what businesses should do to avoid infringing cartel regulations and competition law in Singapore. This follows the Competition Commission of Singapore’s investigations into thirteen fresh chicken distributors, which supply more than 90 per cent of chicken products in Singapore, for engaging in price-fixing.

You may read the full article on p.26 of the 19 May 2016 issue of Lianhe Zaobao here.

 

SIAC releases the 6th edition of SIAC Arbitration Rules

June 2016 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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SIAC releases the 6th edition of SIAC Arbitration Rules

8 Jun 2016

The 6th edition of the Arbitration Rules of the Singapore International Arbitration (“SIAC Rules 2016”) has come into effect on 1 June 2016.

PDPC Takes Action Against 11 Organisations For Breaching Data Protection Obligations

May 2016 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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PDPC Takes Action Against 11 Organisations For Breaching Data Protection Obligations

13 May 2016

The Personal Data Protection Commission (PDPC) has issued the Advisory Guidelines on Enforcement of the Data Protection Provisions (Enforcement Guidelines), and announced that it has taken enforcement actions against 11 organisations for breaching their data protection obligations.

Overview of the Singapore Telecoms and Media Regulatory Framework 2016 - article in GTDT

May 2016 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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Overview of the Singapore Telecoms and Media Regulatory Framework 2016 - article in GTDT

10 May 2016

Global Competition Review/ Getting The Deal Through 2016

As the invited authors of the Singapore Chapter of Getting the Deal Through – Telecoms and Media 2016, the TMT practice group have provided updates and insights into key legal and industry developments in the Singapore telecoms and media landscapes. 

To read the chapter, please click here.

Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through – Telecoms & Media 2016, (published in April 2016; contributing editors: Laurent Garzaniti and Natasha Good, Freshfields Bruckhaus Deringer LLP) For further information please visit www.GettingTheDealThrough.com.

Stellar performance for Drew & Napier in Chambers APAC 2016

May 2016 - Human Resources. Legal Developments by Drew & Napier LLC .

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Stellar performance for Drew & Napier in Chambers APAC 2016

5 Feb 2016

In their results released today, Chambers Asia-Pacific 2016 ranked Drew & Napier as standalone in Dispute Resolution: Litigation and Telecommunications, Media & Technology (TMT). We are also in the top tier for Intellectual Property, Restructuring & Insolvency and Competition & Antitrust.

Predictive Coding Software in the E-Disclosure Process Approved by English Court

May 2016 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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Predictive Coding Software in the E-Disclosure Process Approved by English Court

21 Apr 2016

In the recent case of Pyrrho Investments Limited and another v MWB Property Limited and others [2016] EWHC 256 (Ch), the High Court of England and Wales approved the use of predictive coding software in electronic discovery.

Public Consultation on Proposed Employment Claims Tribunal

April 2016 - Employment. Legal Developments by Drew & Napier LLC .

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Public Consultation on Proposed Employment Claims Tribunal

21 Mar 2016

This update discusses the Ministry of Manpower’s (“MOM”) consultation paper on the key features of a proposed Employment Claims Tribunal (“ECT”). The proposed ECT will be a Tribunal under the State Courts, similar to the Small Claims Tribunal, and will adjudicate salary-related claims in place of the present Labour Court.

Without Prejudice Privilege May Apply to Communications with Regulator

April 2016 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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Without Prejudice Privilege May Apply to Communications with Regulator

7 Mar 2016

In the recent case of Property Alliance Group Ltd v Royal Bank of Scotland plc [2016] 1 WLR 361, the High Court of England (Chancery Division) confirmed for the first time that without prejudice privilege, which is usually applied in the context of civil litigation, may apply to communications with a regulator.

Singapore Take-over Code Revised

April 2016 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Singapore Take-over Code Revised 

1 Mar 2016

This update discusses a proposed amendment to MAS notices on prevention of money laundering and countering the financing of terrorism (“ML/CFT Notices”). This proposed amendment seeks to clarify how the obligations of financial institutions relating to customer due diligence under the ML/CFT Notices would interact with the obligations of financial institutions in respect customer personal data under the upcoming Personal Data Protection Act.

To read the update, please click here.

Statutory Derivative Action Is Not Available Once A Company Is in Liquidation

April 2016 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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 Statutory Derivative Action Is Not Available Once A Company Is in Liquidation

6 Apr 2016

In the recent case of Petroships Investment Pte Ltd v Wealthplus Pte Ltd and others and another matter [2016] SGCA 17, the Court of Appeal held for the first time that a statutory derivative action under s 216A of the Companies Act is not available once a company is in liquidation.

The Court of Appeal clarified that when a company enters into liquidation, the duties and powers of management are exercised by the liquidator rather than the directors. It would be up to the liquidator to commence corporate actions. Hence, a derivative action is not available to shareholders.

To read the update, please click here.

Drew & Napier Data Protection Quarterly Update Q1/2016

April 2016 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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 Drew & Napier Data Protection Quarterly Update Q1/2016

Drew & Napier’s Telecommunications, Media and Technology Practice Group is pleased to present the first issue of our Data Protection Quarterly Update.

In this issue, we look at the emergence of new regulatory instruments and frameworks in the APAC region and in Europe, as courts, governments, and regulators continue to grapple with rapid advancements in new technologies and their implications on the ways in which personal data can be utilised.

To read the Data Protection Quarterly Update, please click here.

Drew & Napier Competition Law Quarterly Update Q1/2016

February 2016 - EU & Competition. Legal Developments by Drew & Napier LLC .

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Drew & Napier Competition Law Quarterly Update Q1/2016

4 Feb 2016

In this bumper issue, the Drew & Napier Competition & Regulatory Practice Group brings you the most notable events in the competition law world in the second half of 2015.

To read the update, please click here.

The International Comparative Legal Guide to Cartels & Leniency 2016

January 2016 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The International Comparative Legal Guide to Cartels & Leniency 2016

6 Jan 2016

As the invited authors of the Singapore Chapter in The International Comparative Legal Guide to Cartels & Leniency 2016, Head of the  Competition & Regulatory Practice, Lim Chong Kin and Deputy Head Scott Clements have drawn upon their extensive experience to provide insights into Singapore cartel regulation and leniency.

The topics covered include:

  • The Legislative Framework of the Cartel Prohibition
  • Investigative Powers
  • Sanctions on Companies and Individuals
  • Leniency for Companies
  • Whistle-blowing Procedures for Individuals
  • Plea Bargaining Arrangements
  • Appeal Process
  • Damages Actions

To read the chapter, please click here.

This article appeared in the 2016 edition of The International Comparative Legal Guide to: Cartels & Leniency 2016; published by Global Legal Group Ltd, London.

Tony Yeo and Benjamin Gaw, Co-Heads of Healthcare & Life Sciences practice, author chapter in GTDT L

January 2016 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Tony Yeo and Benjamin Gaw, Co-Heads of Healthcare & Life Sciences practice, author chapter in GTDT Life Sciences 2016 

22 Dec 2015

Co-Heads of Drew & Napier’s Healthcare & Life Sciences practice, Tony Yeo and Benjamin Gaw, were invited to author the Singapore chapter in Getting the Deal Through: Life Sciences, 2016 edition.

The chapter provides a comprehensive, up-to-date overview of Singapore’s healthcare system and related legislation.

You may click here to read it.

The "Getting the Deal Through" guides are one of the most authoritative international comparative guides to law and regulation in key practice areas and across more than 100 jurisdictions. 

Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through: Life Sciences 2016, (published in November 2015; contributing editor: Alexander Ehlers, Ehlers, Ehlers & Partner) For further information please visit www.gettingthedealthrough.com.

Proposed system of costs scheduling for insolvency practitioners

November 2015 - Human Resources. Legal Developments by Drew & Napier LLC .

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Proposed system of costs scheduling for insolvency practitioners

11 Nov 2015

This update discusses the recent case of Kao Chai-Chau Linda v Fong Wai Lyn Carolyn and others [2015] SGHC 260.p>

Having previously succeeded in objecting to three bills of costs presented by a company’s receivers and convincing the High Court to reduce the amounts charged by about 40% in each instance, Jimmy Yim, SC, Erroll Ian Joseph, Daniel Soo, Mahesh Rai and Andrew Lee from Drew & Napier LLC (together with solicitors for other parties) successfully objected to this latest bill of costs presented by the receivers to the High Court.

In this case, the Singapore High Court proposed the institution of costs scheduling for insolvency practitioners in light of several recent instances of court disputes over professional fees charged by insolvency practitioners.

To read the update, please click here.

Proposed changes to the Competition Commission of Singapore’s guidelines: What you need to know

October 2015 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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Proposed changes to the Competition Commission of Singapore’s guidelines: What you need to know

14 Oct 2015

The Competition Commission of Singapore’s (“CCS”) guidelines provide guidance to businesses on how CCS will administer and enforce the Competition Act (Cap. 50B) (“Competition Act”). The proposed revisions cut across a number of CCS’s major guidelines, and propose refinements to amongst other things CCS’s investigative and enforcement processes, the notification process, and CCS’s assessment of mergers under the merger regulation regime.  

CCS is seeking public feedback on these proposed changes. The closing date for submission of feedback on the proposed changes to the CCS guidelines is 6 November 2015.

This update sets out the key proposed changes to the CCS guidelines and the impact of these proposed changes on entities doing business Singapore.

To read the update, please click here.

MAS consults on liquidity coverage ratio disclosure requirements

October 2015 - Finance. Legal Developments by Drew & Napier LLC .

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13 Oct 2015

This update discusses the Monetary Authority of Singapore’s (“MAS”) consultation paper on its proposals on liquidity coverage ratio disclosure requirements. In November 2014, MAS updated its liquidity regulations for banks. In particular, the liquidity coverage ratio (“LCR”) requirement was introduced for domestic systemically important banks in Singapore. MAS is now consulting on a set of proposed disclosure requirements to complement the LCR requirement.

Data Protection & Privacy in Singapore 2016 - article in GTDT

October 2015 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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Data Protection & Privacy in Singapore 2016 - article in GTDT

6 Oct 2015

Global Competition Review/ Getting The Deal Through 2016

As the invited authors of the Singapore Chapter in Getting the Deal Through: Data Protection & Privacy 2016, Head of TMT Lim Chong Kin and Director Charmian Aw share further updates on Singapore’s personal data protection framework as well as recent developments which have arisen therefrom. 

Third-Party Taxi Booking Service Providers Act 2015 comes into force on 1 September 2015

October 2015 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Third-Party Taxi Booking Service Providers Act 2015 comes into force on 1 September 2015

7 Oct 2015

This update discusses the Third-Party Taxi Booking Service Providers Act 2015 (“Act”), which was passed by Parliament in May 2015. The Act and the relevant regulations mandate a registration requirement and other key conditions of operation which will apply to taxi booking smartphone application providers like Grabtaxi and uberTaxi in Singapore. The Act’s coverage is limited to third-party taxi booking services, and the Minister for Transport Mr Khaw Boon Wan has announced that the Government will be reviewing the possible regulation and licensing of private hire cars and drivers in the coming months.

Drew & Napier Competition Law Quarterly Update Q3/2015

September 2015 - EU & Competition. Legal Developments by Drew & Napier LLC .

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Drew & Napier Competition Law Quarterly Update Q3/2015

21 Sep 2015

This issue of Drew & Napier’s Competition Law Quarterly Update features the article, “Competition Law and Intellectual Property: Product-Hopping and the Effort to Extend the Lives of Dominant Patents”. This article examines the treatment of product-hopping under competition laws, and the circumstances under which a dominant entity may be found to have abused its dominant position by engaging in such practices. The article also takes an in-depth look at the recent case of People of the State of New York v Actavis plc, Forest Laboratories LLC.

To read the article, please click here.

Tougher Work Pass Controls for Foreign PMEs and Proposed Amendments to the Employment Act

August 2015 - Employment. Legal Developments by Drew & Napier LLC .

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Tougher Work Pass Controls for Foreign PMEs and Proposed Amendments to the Employment Act

22 Jul 2015

This update discusses the Ministry of Manpower’s introduction of a slew of measures in July 2015, which are likely to affect a wide range of employers. These measures include toughening work pass controls for foreign Professionals, Managers and Executives (“PMEs”), scrutinising firms with many foreign PMEs, and giving PMEs more avenues to raise employment disputes.

Consultation on Amendments to the Singapore Code on Take-overs and Mergers

July 2015 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Consultation on Amendments to the Singapore Code on Take-overs and Mergers

8 Jul 2015

This update discusses the Securities Industry Council’s (“SIC”) consultation paper on proposed amendments to the Singapore Code on Take-overs and Mergers (“Code”). The Code was last reviewed by the SIC in 2012 and many of the proposed amendments discussed in the consultation paper are on account of market and practice developments that have occurred since then.

The International Comparative Legal Guide to Employment & Labour Law 2015 Edition

June 2015 - Employment. Legal Developments by Drew & Napier LLC .

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The International Comparative Legal Guide to Employment & Labour Law 2015 Edition

14 Apr 2015

The Drew & Napier Employment Practice Group has drawn upon its experience to share insights into Singapore employment and labour laws in the Singapore chapter of The International Comparative Legal Guide to: Employment & Labour Law 2015 published by Global Legal Group Ltd, London.

Special Article: Data Protection in the Context of Competition Law Investigations

June 2015 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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26 May 2015: The Drew & Napier Competition & Regulatory Practice Group brings you this special article as part of its latest Competition Law Quarterly Update for the first quarter of 2015. 

Drew & Napier Competition Law Quarterly Update Q2/2015

June 2015 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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Drew & Napier Competition Law Quarterly Update Q2/2015

26 May 2015

In this issue, the Drew & Napier Competition & Regulatory Practice Group brings you the most notable events in the competition law world in the first quarter of 2015.

To read the update, please click here.

Overview of the Singapore Telecoms and Media Regulatory Framework 2015 - article in GTDT

June 2015 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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Overview of the Singapore Telecoms and Media Regulatory Framework 2015 - article in GTDT

3 Jun 2015

Global Competition Review/ Getting The Deal Through 2015

As the invited authors of the Singapore Chapter in Getting the Deal Through – Telecoms and Media 2015, Head of TMT Lim Chong Kin and Director Charmian Aw share insights into telecoms and media regulations in Singapore.

FIDIC Contracts and the Enforceability of Interim Arbitral Awards

June 2015 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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FIDIC Contracts and the Enforceability of Interim Arbitral Awards

9 Jun 2015

This update discusses the recent Singapore Court of Appeal (“CA”) decision in the case of PT Perusahaan Gas Negara (Persero) TBK v CRW Joint Operation [2015] SGCA 30, where the CA was split 2:1 in its decision with the majority of the CA dismissing the appeal.  In the case of PT Perusahaan, the CA considered the interpretation of section 19B of the International Arbitration Act (Cap 143A) (“IAA”) in coming to its decision, as well as the question of whether an interim award  was an “award” as defined in section 2 of the IAA.

Parties may contractually limit their right to restrain calls on performance bonds

May 2015 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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Parties may contractually limit their right to restrain calls on performance bonds

14 May 2015

This update discusses the recent case of CKR Contract Services Pte Ltd v Asplenium Land Pte Ltd [2015] SGCA 24 where the Singapore Court of Appeal was asked to consider whether a clause in a construction contract between the main contractor and developer was invalid and unenforceable on the basis that it was contrary to public policy as an ouster of the jurisdiction of the court. 

Timetable for Implementation of Amendments to the Companies Act

April 2015 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Timetable for Implementation of Amendments to the Companies Act

16 Apr 2015

This update relates to our series of legal updates issued over the 4th quarter of 2014 and earlier this year discussing the amendments to the Singapore Companies Act to be effected by the Companies (Amendment) Act 2014 (“Amendment Act”). This update discusses the implementation timetable for the various amendments under the Amendment Act.

To read the update, please click here.

Impending Provisions in the Singapore Companies Act Relating to Duties of Chief Executive Officers

April 2015 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Impending Provisions in the Singapore Companies Act Relating to Duties of Chief Executive Officers

11 Feb 2015

This legal update highlights some of the key provisions of the Companies (Amendment) Act 2014 which relate to the role and duties of a Chief Executive Officer. These amendments were gazetted in late 2014, and whilst not yet in force, are widely expected to come into force in the second quarter of 2015.

To read the update, please click here

Competition Law Quarterly Update Q1/2015

February 2015 - EU & Competition. Legal Developments by Drew & Napier LLC .

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In this bumper issue, the Drew & Napier Competition & Regulatory Practice Group brings you the most notable events in the competition law world in the second half of 2014.

In our feature article "Intel case clarifies position on anti-competitive rebates… or does it?", we discuss the European General Court’s decision to dismiss Intel’s appeal against an infringement finding by the European Commission. The landmark decision addressed how rebate and discount structures offered by dominant companies ought to be assessed.

To read the update, please click here.

Intellectual Property Update: Patent Prosecution Highway

January 2015 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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Intellectual Property Update: Patent Prosecution Highway

16 Jan 2015

The Patent Prosecution Highway ("PPH") is a programme that allows for the sharing of search and examination results between participating patent offices. The goal is to allow applicants in participating countries to obtain corresponding patents quickly.

With effect from 6 January 2015, the European Patent Office ("EPO") has entered into a PPH arrangement that is similar to the existing PPH arrangements that the Intellectual Property Office of Singapore ("IPOS") has with the State Intellectual Property Office of the People's Republic of China ("SIPO"), the Mexican Institute of Industrial Property of the United Mexican States ("IMPI"), and the German Patent and Trade Mark Office ("DPMA").

The bilateral PPH pilot programme between IPOS and the EPO is for a period of 3 years until 5 January 2018.

To read the update, please click here.

 

 

Intellectual Property Update: Patent Prosecution Highway

December 2014 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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Intellectual Property Update: Patent Prosecution Highway

18 Dec 2014

The Patent Prosecution Highway ("PPH") is a programme that allows for the sharing of search and examination results between participating patent offices. The goal is to allow applicants in participating countries to obtain corresponding patents quickly.

To read the update, please click here.

Breaking Chocolate News: Shaping the Law on Registrability of Trade Marks

December 2014 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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Breaking Chocolate News: Shaping the Law on Registrability of Trade Marks

5 Dec 2014

This update discusses the High Court's decision in the case of Societe Des Produits Nestle SA and another v Petra Foods Ltd. Nestle SA ("Nestle") filed a suit in 2012 claiming that "Take It", a series of rectangular-shaped wafer products made by Petra Foods Ltd ("Petra Foods") infringed on Nestle's trade mark rights and copyright. 

Director Dedar Singh Gill and Senior Associate Gabriel Ong from Drew & Napier successfully defended food-maker Petra Foods by arguing that all of the essential features contained in Nestle's registered shape marks were necessary to obtain a technical result, which meant the registrations should be declared invalid. The High Court agreed, and threw out Nestle's claim that the shape of chocolate bar Take-it, infringed its intellectual property rights.

This decision is highly significant as it is the first High Court decision on the registrability of shapes as trade marks in Singapore. Traders seeking to register or assert trade mark protection over the shape of their goods should take note of the guiding principles laid down by the High Court, which are discussed and summarised in this update.

To read the update, please click here.

Amendments to the Companies Act: amendments relating to directors

December 2014 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Amendments to the Companies Act: amendments relating to directors

8 Dec 2014

This article is the fourth and last in a series of legal updates relating to the amendments to the Singapore Companies Act to be effected by the Companies (Amendment) Act 2014. This Legal Update discusses the amendments and related issues in the following areas which pertain to directors:

(a) shadow directors;
(b) appointment of directors;
(c) qualifications of directors;
(d) disqualification of directors;
(e) vacation of office and removal of directors;
(f) payment of compensation for loss of office;
(g) supervisory role of directors;
(h) directors’ fiduciary duties;
(i) disclosure of company information by nominee directors; and
(j) indemnity for directors.

To read the update, please click here.

New Tripartite Guidelines on Extending the Scope of Union Representation for Executives

December 2014 - Employment. Legal Developments by Drew & Napier LLC .

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New Tripartite Guidelines on Extending the Scope of Union Representation for Executives

5 Dec 2014

The Industrial Relations (Amendment) Bill proposes to allow rank-and-file trade unions to represent executives for collective bargaining. Ahead of the legislative amendments coming into effect, the Ministry of Manpower, together with its tripartite partners, the Singapore National Employers Federation and the National Trades Union Congress, has released new Guidelines on Extending the Scope of Union Representation for Executives.

The amendments to the Industrial Relations Act and the Guidelines are expected to be effective on or after 1 April 2015.

This update summarises and discusses the practical implications of the amendments to the Act and the new Guidelines.

To read the update, please click here.

Protection from Harassment Act 2014 Comes Into Effect

December 2014 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Protection from Harassment Act 2014 Comes Into Effect

27 Nov 2014

This update reports recent developments on the status of the Protection from Harassment Act 2014 ("Act") in Singapore.

On 15 November 2014, the Act came into effect.

Amendments to the Companies Act: (1) multiple-vote shares and non-voting shares; (2) electronic regi

December 2014 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Amendments to the Companies Act: (1) multiple-vote shares and non-voting shares; (2) electronic register of members

27 Nov 2014

This update is the third in a series of updates discussing the amendments brought about by the Companies (Amendment) Bill 2014 and discusses two of the significant amendments to the Companies Act, which are:

(a) to allow public companies to issue multiple-vote equity shares and non-voting shares; and

(b) to implement the electronic online register of members of private companies.

To read the update, please click here.

Drew & Napier acted for CapitaLand Limited on its joint venture with a subsidiary of Credo Group to

November 2014 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Drew & Napier acted for CapitaLand Limited on its joint venture with a subsidiary of Credo Group to develop an integrated development in Central Jakarta, Indonesia

19 Nov 2014

Drew & Napier acted for CapitaLand Limited ("CapitaLand") on its joint venture with a subsidiary of Credo Group ("CG") to develop an integrated development in Central Jakarta, Indonesia. CapitaLand and CG will each hold a 50% stake in the joint venture.

The integrated development, CapitaLand's first in Indonesia, will comprise a Grade A office tower, mid- to high-end residential units, serviced residences and supporting retail space, spanning a total gross floor area of more than 40,000 square metres. Estimated to be completed in 2018, construction for the development is expected to commence in 2015. The total development cost is approximately S$220 million. 

The joint venture company will acquire from CG a 1-hectare site located within the central business district (CBD) of Jakarta. The site, close to embassies, renowned civic buildings, offices, affluent residential neighbourhoods and the National Monument, also has good connectivity to major roads within the CBD and other areas of Jakarta.

Directors Julian Kwek and Aaron Kok led in this transaction and were assisted by Senior Associate Cheryl Anne Ang and Associates Mark Jalen Tan and Lim Sze Min.

Amendments to the Companies Act – Power of directors to bind companies

November 2014 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Amendments to the Companies Act – Power of directors to bind companies

29 Oct 2014

This update is the second in a series of legal updates discussing the amendments brought about by the Companies (Amendment) Bill 2014. It discusses the amendments relating to the power of directors to bind a company, including the new sections 25B, 25C and 25D.

To read the update, please click here.

 

 

New Guidelines and Proposed Regulations for the Healthcare Sector

November 2014 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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New Guidelines and Proposed Regulations for the Healthcare Sector

11 Nov 2014

This article discusses some of the recent developments in the healthcare regulatory landscape in Singapore.

Most recently on 6 November 2014, the Ministry of Health ("MOH") issued a public consultation on the draft Human Biomedical Research Bill. The Human Biomedical Research Bill will regulate the conduct of human biomedical research as well as issues relating to human tissues and tissue banks. The MOH's public consultation will close on 18 December 2014.

On 27 October 2014, the Health Sciences Authority launched a public consultation on two sets of proposed subsidiary legislation for the transfer of regulatory controls of certain pharmaceutical products (which are to be termed "Therapeutic Products") to the Health Products Act. These subsidiary legislation relate to: (a) the advertisement controls for Therapeutic Products; and (b) licensing of retail pharmacies which sell, amongst others, Therapeutic Products. This public consultation will close on 23 November 2014.

Further on 11 September 2014, the Personal Data Protection Commission issued a set of advisory guidelines of the healthcare sector. These advisory guidelines were developed together with the MOH. They provide some illustrative guidance as to the obligations under the Personal Data Protection Act 2012 ("PDPA") relating to consent, purpose limitation, notification, access and correction, protection, accuracy, retention limitation, transfer limitation and openness. Guidance in relation to the Do Not Call provisions under the PDPA is also provided within these advisory guidelines.

The MOH held a public consultation between 2 September 2014 and 2 October 2014 to seek public feedback on its draft home care and centre-based care guidelines, as part of its ongoing efforts to enhance the quality of care in the intermediate and long term care ("ILTC") sector. The draft MOH ILTC guidelines were developed by two committees comprising service providers, healthcare professionals and policy experts, based on existing good practices in the respective sectors. The draft MOH ILTC guidelines are intended to set out the standard of care that all centre-based care and home care providers should aspire to achieve, in terms of delivering holistic and safe care, the dignity afforded to seniors and the organisational systems and management processes of these providers.

To read the update, please click here.

PDPC Issues Additional Advisory Guidelines under the Personal Data Protection Act 2012

November 2014 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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PDPC issues additional Advisory Guidelines under the Personal Data Protection Act 2012

22 Sep 2014

On 11 September 2014, the Personal Data Protection Commission ("PDPC") issued the finalised: 

(a) Advisory Guidelines for the Education Sector;

(b) Advisory Guidelines for the Social Service Sector;

(c) Advisory Guidelines for the Healthcare Sector; and

(d) new chapter on photography, under the Advisory Guidelines on the PDPA for Selected Topics,

which illustrate how the Personal Data Protection Act 2012 ("PDPA") applies to scenarios faced in each sector, as well as in relation to photography-related activities.

This legal update discusses the above finalised advisory guidelines, as well as the PDPC's new educational handbook entitled "A Guide to Notification".

To read the update, please click here.

Re-employment of Employees & Constructive Dismissal Claims

October 2014 - Employment. Legal Developments by Drew & Napier LLC .

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Re-employment of Employees & Constructive Dismissal Claims

17 Oct 2014

This update reports recent developments on employment law and practice in Singapore.

In September 2014, the Tripartite Committee on Employability of Older Worker recommended that the Government adopt a promotional approach towards raising the re-employment age from 65 to 67 years old, and provide interim incentives to encourage companies to re-employ older workers beyond the age of 65, before such measures are legislatively required. It also recommended that employers provide an outplacement assistance payment to employees aged 65 to 67, if employers are unable to find suitable jobs for them within or outside the company.

Separately, the Singapore Court of Appeal recently issued the decision of Wee Kim San Lawrence Bernard v Robinson & Co (Singapore) Pte Ltd [2014] SGCA 43, discussing the damages that may be claimed on an employee's constructive dismissal.

This case is noteworthy because, apart from upholding the longstanding principle that damages may be awarded for loss of remuneration for the contractual notice period, it indicates that the Singapore courts may also consider damages that are proven to arise from a breach of the implied term of mutual trust and confidence between the employer and the employee.

This serves as an important reminder to employers, when deciding on termination of employee matters, to be mindful of any conduct that could give rise to a breach of the mutual trust and confidence between employers and employees.

To read the update, please click here.

PDPC issues additional Advisory Guidelines under the Personal Data Protection Act 2012

October 2014 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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PDPC issues additional Advisory Guidelines under the Personal Data Protection Act 2012

22 Sep 2014

On 11 September 2014, the Personal Data Protection Commission ("PDPC") issued the finalised: 

(a) Advisory Guidelines for the Education Sector;

(b) Advisory Guidelines for the Social Service Sector;

(c) Advisory Guidelines for the Healthcare Sector; and

(d) new chapter on photography, under the Advisory Guidelines on the PDPA for Selected Topics,

which illustrate how the Personal Data Protection Act 2012 ("PDPA") applies to scenarios faced in each sector, as well as in relation to photography-related activities.

This legal update discusses the above finalised advisory guidelines, as well as the PDPC's new educational handbook entitled "A Guide to Notification".

To read the update, please click here.

Amendments to the Companies Act – Impact on Corporate Transactions

October 2014 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Amendments to the Companies Act - Impact on Corporate Transactions

17 Oct 2014

This update discusses the amendments brought about by the Companies (Amendment) Bill in the following key categories of corporate transactions and the potential issues which stakeholders may face in practice:

(a) the provision of loans and quasi-loans to, and entry into credit transactions with directors, or entities connected with directors;

(b) the provision of financial assistance by a company for the acquisition of its own shares; and

(c) the compulsory acquisition of shares.

To read the update, please click here.

Data Protection & Privacy in Singapore 2015 - article in GTDT

October 2014 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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1 Oct 2014

Global Competition Review/ Getting The Deal Through 2015

As the invited authors of the Singapore Chapter in Getting the Deal Through - Data Protection & Privacy 2015, Head of TMT Lim Chong Kin and Director Charmian Aw share further updates on developments in Singapore's data protection regime, as well as the growing impact of the Personal Data Protection Act 2012 on organisations and individuals alike.

To read the chapter, please click here.

Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through - Data Protection & Privacy 2015, (published in September 2014; contributing editor: Rosemary P Jay of Hunton & Williams) For further information please visit www.GettingTheDealThrough.com.

http://www.drewnapier.com/Publications-Events/Legal-Updates/Copyright-(Amendment)-Bill-2014

September 2014 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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This update discusses the Copyright (Amendment) Bill 2014 ("Bill"), which was passed by Parliament on 8 July 2014.

Proposals to enhance regulatory safeguards for investors in the capital markets

September 2014 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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This update discusses a consultation paper published by the Monetary Authority of Singapore on proposals to enhance its regulatory framework for safeguarding investors' interests. The proposals are in the following three key areas: (a) extending to investors in non-conventional investment products the current regulatory safeguards available to investors in capital markets; (b) requiring investment products to be rated for complexity and risks, and for these ratings to be disclosed to investors; and (c) refining the non-retail investor classes including providing accredited investors the option to benefit from the full range of capital markets regulatory safeguards that are applicable for retail investors.

To read the update, please click here.

Competiton Law Quarterly Update Q2/2014

September 2014 - EU & Competition. Legal Developments by Drew & Napier LLC .

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In this edition's feature article "CCS airline industry market study", we discuss CCS findings from an airline industry market study which CCS commissioned to examine whether certain joint ventures between airlines operating through Singapore have actually resulted in net economic benefits.pdf

To read the above article, please click on the link below


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PDPA related amendments to MAS AML/CFT notices and MAS’ response to feedback received

September 2014 - Finance. Legal Developments by Drew & Napier LLC .

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In light of the Personal Data Protection Act coming into force, the Monetary Authority of Singapore ("MAS") published a consultation paper proposing amendments ("Personal Data Amendment") to MAS notices on prevention of money laundering and countering the financing of terrorism ("ML/CFT Notices"). The Personal Data Amendment aimed to clarify that for the purposes of meeting anti-money laundering / countering the financing of terrorism requirements, financial institutions may collect, use and disclose personal data without customer consent, as per existing practice. Following the receipt of feedback, MAS made further amendments to the Personal Data Amendment and published its response discussing the further amendments in light of feedback received. This update is a follow up to our earlier update on the Personal Data Amendment and discusses MAS' response.

To read the above article, please click on the link below.

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Proposed framework for systemically important banks in Singapore

September 2014 - Finance. Legal Developments by Drew & Napier LLC .

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The Monetary Authority of Singapore ("MAS") recently published a consultation paper proposing a regulatory framework for systemically important banks in Singapore. This update discusses MAS' proposals, including, an overview of the proposed regulatory framework, the assessment methodology for identifying systemically important banks in Singapore, the policy measures to be applied toward such banks and the implementation timeline for the proposed regulatory framework.
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PDPA related amendments to MAS AML/CFT notices and MAS’ response to feedback received

July 2014 - Finance. Legal Developments by Drew & Napier LLC .

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In light of the Personal Data Protection Act coming into force, the Monetary Authority of Singapore ("MAS") published a consultation paper proposing amendments ("Personal Data Amendment") to MAS notices on prevention of money laundering and countering the financing of terrorism ("ML/CFT Notices"). The Personal Data Amendment aimed to clarify that for the purposes of meeting anti-money laundering / countering the financing of terrorism requirements, financial institutions may collect, use and disclose personal data without customer consent, as per existing practice. Following the receipt of feedback, MAS made further amendments to the Personal Data Amendment and published its response discussing the further amendments in light of feedback received. This update is a follow up to our earlier update on the Personal Data Amendment and discusses MAS' response.

To read the above article, please click on the link below.

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Proposed framework for systemically important banks in Singapore

July 2014 - Finance. Legal Developments by Drew & Napier LLC .

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The Monetary Authority of Singapore ("MAS") recently published a consultation paper proposing a regulatory framework for systemically important banks in Singapore. This update discusses MAS' proposals, including, an overview of the proposed regulatory framework, the assessment methodology for identifying systemically important banks in Singapore, the policy measures to be applied toward such banks and the implementation timeline for the proposed regulatory framework.
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Competition Appeal Board Dismisses Most Grounds of Appeal by Modelling Agencies

May 2013 - EU & Competition. Legal Developments by Drew & Napier LLC .

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On 10 April 2013, the Competition Appeal Board (CAB) dismissed all but two grounds of appeal by five modelling agencies that had been found by the Competition Commission of Singapore (CCS) to have engaged in price-fixing activities. CAB's decision resulted in a reduction in the total amount of financial penalties for the five modelling agencies.

COMPETITION ASSESSMENT OF THE INDUSTRIAL PROPERTY MARKET IN SINGAPORE: CCS DECIDES THAT...

April 2013 - EU & Competition. Legal Developments by Drew & Napier LLC .

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NO IMMEDIATE ACTION IS NECESSARY

EXECUTIVE SUMMARY
On 2 April 2013, the Competition Commission of Singapore ("CCS") published a paper titled "Competition Assessment on the Industrial Property Market in Singapore" ("CCS Paper"). Amongst other things, the CCS Paper reviewed industry practices and regulations in the industrial property market in Singapore from 2002 to the first quarter of 2012 that may hamper or distort competition. Other markets that have previously been studied by CCS include the retail petrol market and the retail mall space rental market.

SINGAPORE FINES 12 MOTOR VEHICLE TRADERS FOR BID-RIGGING AT PUBLIC AUCTIONS

April 2013 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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On 28 March 2013, the Competition Commission of Singapore ("CCS") handed down fines totalling S$179,071 on 12 motor vehicle traders for bidrigging at public motor vehicle auctions held by various government agencies

MAS RESPONDS TO FEEDBACK ON ITS CONSULTATION TO DESIGNATE TAX CRIMES AS MONEY LAUNDERING...

April 2013 - Crime. Legal Developments by Drew & Napier LLC .

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PREDICATE OFFENCES

On 9 October 2012, the Monetary Authority of Singapore ("MAS") issued a consultation paper to seek feedback on the designation of tax crimes as money laundering predicate offences in Singapore, which will come into effect on 1 July 2013. The consultation closed on 9 December 2012. Drew & Napier LLC had issued an update on this consultation paper. Please click here to refer to the update.

Consultation on the recommendations of the Financial Advisory Industry Review

April 2013 - Finance. Legal Developments by Drew & Napier LLC .

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On 26 March 2012, the Monetary Authority of Singapore ("MAS") announced the launch of the Financial Advisory Industry Review ("FAIR"), with the aim of raising standards of practice in the financial advisory ("FA") industry and improving efficiency in the distribution of life insurance and investment products in Singapore. Subsequently, a panel, chaired by MAS and comprising representatives from industry associations, consumer and investor bodies, academia, media, and other stakeholders ("FAIR Panel"), was formed on 2 April 2012 to conduct the review.

International Arbitration Quarterly – Mar 2013

March 2013 - EU & Competition. Legal Developments by Drew & Napier LLC .

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In this issue, we discuss:

  • a recently concluded arbitration whereby an oil and gas group was awarded $20m by the tribunal;
  • jurisdictional challenge to an arbitration clause in a novated agreement; and
  • a recent change in the China International Economic and Trade Arbitration Commission rules.

 

Consultation on Securities and Futures Act and Financial Advisers Act Regulations

January 2013 - Finance. Legal Developments by Drew & Napier LLC .

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This update discusses a recent consultation paper (“Consultation Paper”) released by the Monetary Authority of Singapore pertaining to proposed amendments to the regulations pursuant to the Securities and Futures Act and the Financial Advisers Act. The closing date for this Consultation Paper is 4 January 2013.

To read the above article, please click on the link below.

International Arbitration Quarterly Nov2012.

November 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Welcome to the final issue of Drew & Napier LLC's International Arbitration Quarterly for the year 2012.

In this issue, we discuss:

  • the movement of international arbitration in India towards less judicial intervention;
  • a recent arbitration which concerned alleged gross negligence and astronomical loss of profits; 
  • the arbitrating parties' choice of law; and
  • the importance of appreciating cultural nuance before an international arbitration panel.

Coming into effect of New Attributed Liability Concept – Part XII (Market Conduct) of the...

October 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Securities and Futures Act

This update discusses the concept of attributed liability which has recently come into effect under the Securities and Futures Act ("SFA") whereby an employer may face liability resulting from a contravention of market conduct provisions of the SFA by its employee, officer, partner or manager. Some practical recommendations for an employer to mitigate such risks are also discussed.

AGREEMENT TO NEGOTIATE IN GOOD FAITH UPHELD

September 2012 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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HSBC Institutional Trust Services (Singapore) Ltd (trustee of Starhill Global Real Estate Investment Trust) v Toshin Development Singapore Pte Ltd [2012] SGCA 48

Competition Law Quarterly Update Q3/2012

September 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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In this issue
Singapore Competition Law Watch 1
Regulatory Updates 2
Industry News 3
– Anti-Competitive Agreements 3
– Abuse of Dominance 9
– Merger Regulations 10
– Procedural Matters and others 11
Feature Article 14
Hong Kong Passes its Competition Ordinance
Do you know? 16

MALAYSIA COMPETITION COMMISSION ISSUES GUIDELINES ON CHAPTER 2 PROHIBITION

August 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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The Malaysian Competition Commission (“MyCC”) has released its Guidelines on Chapter 2 of the Competition Act 2010 (“Chapter 2 Guidelines”), following its public consultation on the draft Chapter 2 Guidelines between 15 May 2012 and 15 June 2012.

INDEPENDENT DIRECTOR ACQUITTED OF CONVICTIONS UNDER THE SECURITIES AND FUTURES ACT

August 2012 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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Madhavan Peter v Public Prosecutor and other appeals [2012] SGHC 153

Lawyer Peter Madhavan, the first independent director to be sentenced to imprisonment in Singapore for market misconduct, has had his convictions, sentences and disqualification order overturned by the High Court.

ENHANCED REGULATORY REGIME FOR FUND MANAGEMENT COMPANIES

August 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Monetary Authority of Singapore (“MAS”) has announced that the implementation of the enhanced regulatory regime for fund management companies (“FMCs”) will take effect from 7 August 2012.

CCS FINES TWO FERRY OPERATORS FOR UNLAWFUL PRICE INFORMATION EXCHANGE

August 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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On 18 July 2012, the Competition Commission of Singapore (“CCS”) issued an infringement decision against Batam Fast Ferry Pte Ltd (“Batam Ferry”) and Penguin Ferry Services Ltd (“Penguin Ferry”) for infringement of section 34 of the Competition Act (Cap. 50B) (“Competition Act”).

CCS ISSUES REVISED GUIDELINES ON MERGER PROCEDURES

August 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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The Competition Commission of Singapore (“CCS”) published its revised Merger Control Procedures Guidelines (“Revised Guidelines”) on 20 June 2012, following a public consultation in the first quarter of this year on proposed revisions to the merger notification procedures in Singapore.

SUCCESS FEES PAYABLE BY CLIENT TO ADVISOR

August 2012 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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eSys Technologies Pte Ltd v nTan Corporate Advisory Pte Ltd [2012] SGHC 136

SET ASIDE OR RESIST ENFORCEMENT: DOES ONE HAVE TO CHOOSE?

August 2012 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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What are the options available to a party which is unsuccessful in an arbitration? Should it apply to set aside the award at the seat? Or should it resist enforcement of the award in the enforcement forum? Can it do both?

Proposed Changes to the Patents Act

June 2012 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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This update discusses the proposed revisions to the Patents Act, encapsulated in the Patents (Amendment) Bill (“Bill”). The proposed changes in the Bill would introduce a shift from the present self-assessment system to a positive grant system, whereby only patent applications which have fully positive examination reports and meet all the requirements under the Patents Act will be granted.

MAS ISSUES PROPOSED AMENDMENTS TO THE SECURITIES AND FUTURES ACT AND FINANCIAL ADVISERS ACT

June 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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On 12 March 2009, the Monetary Authority of Singapore (“MAS”) issued a consultation paper (“March 2009 Consultation Paper”) proposing enhancements to the regulatory framework for unlisted investment products.

HOT-TUBBING IN INTERNATIONAL ARBITRATION

May 2012 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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In this issue
Hot-tubbing in International Arbitration…1
By Chia Voon Jiet
Upcoming Amendments to the International Arbitration Act …………….. 3
By Chew Kiat Jinn & Mahesh Rai

FIRST THREE SETS OF GUIDELINES ISSUED UNDER MALAYSIAN COMPETITION LAW

May 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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Five months after the Competition Act 2010 (“Act”) came into force on 1 January 2012, the Malaysia Competition Commission (“MyCC”) has issued the final version of three guidelines (collectively, “Guidelines”) it had previously made available for public consultation last year. The Guidelines comprise of the following:

THE MALAYSIA COMPETITION COMMISSION ANNOUNCES QUANTUM OF FEES FOR EXEMPTION APPLICATIONS UNDER...

May 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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THE COMPETITION ACT

It was reported that the Malaysia Competition Commission (“MyCC”) announced on 27 April 2012 that a RM50,000 (S$20,400) fee would be payable for parties seeking to make an application for an exemption. In addition to the one-time application fee, parties who successfully obtain an exemption will have to pay an annual fee of RM10, 000 (S$4,100) for those under individual exemptions, or RM20,000 (S$8,200) for those under block exemptions.

TELECOMS, MEDIA & TECHNOLOGY UPDATE

May 2012 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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IDA ISSUES TELECOM COMPETITION CODE 2012 AND NEW TELECOM CONSOLIDATION AND TENDER OFFER GUIDELINES

IMPORTANCE OF RECORDINGS IN BANKING DISPUTES

May 2012 - Finance. Legal Developments by Drew & Napier LLC .

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Crédit Industriel et Commercial v Teo Wai Cheong [2012] SGHC 94

The Singapore High Court has granted judgment to Crédit Industriel et Commercial (“CIC”) for its claim against Teo Wai Cheong (“Teo”) for payment for shares that were acquired under certain “accumulator” transactions carried out in 2007. 

REVISED CODE OF CORPORATE GOVERNANCE

May 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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On 14 June 2011, the Corporate Governance Council (“Council”) issued a consultation paper with proposed revisions to the Code of Corporate Governance (“Code”). Please click here to refer to Drew & Napier LLC’s update on that consultation.

AMENDMENTS TO HEALTH PRODUCTS (MEDICAL DEVICES) REGULATIONS

April 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Following the introduction of the Health Products Act in February 2007, the Health Sciences Authority (“HSA”) has continued to strengthen its regulatory framework through the implementation of the Health Products (Medical Devices) Regulations (“Regulations”).

CCS ISSUES PROPOSED INFRINGEMENT DECISION AGAINST FERRY OPERATORS

April 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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On 9 March 2012, the Competition Commission of Singapore (“CCS”) announced that it had issued a Proposed Infringement Decision (“PID”) against Batam Fast Ferry Pte Ltd (“BFS”) and Penguin Ferry Services Pte Ltd (“PFS”).

PUBLIC CONSULTATION ON DRAFT DATA PROTECTION BILL

April 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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On 19 March 2012, the Ministry of Information, Communications and the Arts (“MICA”) issued a consultation paper to seek feedback on the proposed Personal Data Protection Bill (“DP Bill”). Closing date for feedback is 30 April 2012. The public consultation can be accessed here.

SINGAPORE TAKE-OVER CODE REVISED

March 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Singapore Code on Take-overs and Mergers (“Code”) has been revised by the Monetary Authority of Singapore (“MAS”) on the advice of the Securities Industry Council (“SIC”). The new Code will come into force on 9 April 2012.

MISSING WITNESSES – YOU CAN RUN BUT YOU CANNOT HIDE

March 2012 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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To common law practitioners, cross-examination of witnesses is a critical part of any arbitration because it gives counsel an opportunity to test the veracity of the other party’s evidence.

A RELOOK AT “CREDITORS”

March 2012 - Finance. Legal Developments by Drew & Napier LLC .

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SAAG Oilfield Engineering (S) Pte Ltd (formerly known as Derrick Services Singapore Pte Ltd) v Shaik Abu Bakar bin Abdul Sukol and another and another appeal [2012] SGCA 7

TWO COMPETITION BILLS TABLED IN THE PHILIPPINES

March 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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Two competition bills were recently tabled at the Senate of the Philippines – the “Competition Act of 2011”, which was tabled on 17 January 2012, and the “Competition Policy Act of 2011”, which was tabled on 26 January 2012.

PROPOSED GROUP-WIDE REGULATORY SUPERVISION OF BANKS AND INSURANCE COMPANIES

February 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Monetary Authority of Singapore (“MAS”) recently announced plans to develop a regulatory framework for financial groups.

IN-HOUSE COUNSEL AND LEGAL PROFESSIONAL PRIVILEGE

February 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Evidence (Amendment) Bill 2012 was read for the first time in Parliament on 16 January 2012 and passed on 14 February 2012. One of the notable changes to the Evidence Act is the extension of legal professional privilege to in-house counsel.

CONSULTATION ON PROPOSED REGULATION OF OVER-THE-COUNTER DERIVATIVES

February 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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On 13 February 2012, the Monetary Authority of Singapore (“MAS”) issued a consultation paper on a significant new proposal: to regulate the trading of over-the-counter (“OTC”) derivatives.

CONSUMER PROTECTION (FAIR TRADING) (AMENDMENT) BILL

February 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Consumer Protection (Fair Trading) (Amendment) Bill (“Bill”) was introduced in Parliament on 14 February 2012.

RELAXING THE HEARSAY RULE

February 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Amendments to the Evidence Act (“Act”) were passed in Parliament on 14 February 2012, setting out new rules for the type of evidence which may be admitted in court proceedings. These changes are likely to come into effect this year.

MAIDEN DECISION ON INSIDER TRADING

February 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Kevin Lew Chee Fai v Monetary Authority of Singapore [2012] SGCA 12

This was the first civil insider trading case litigated in the Singapore Courts under the relevant provisions of the Securities and Futures Act (“SFA”) enacted in 2001. The matter proceeded all the way to the Court of Appeal which gave a detailed exposition of what constitutes insider trading under the laws of Singapore.

SINGAPORE COMPETITION LAW WATCH

February 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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On 23 November 2011, the Competition Commission of Singapore (“CCS”) released an infringement decision against 11 modelling agencies in Singapore for breaching Section 34 of the Competition Act (Cap. 50B) (“Act”). Section 34 of the Act prohibits, amongst other things, price fixing activities.

TRADE MARKS CAMPOMAR WINS THE RACE

February 2012 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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The issue before the Court of Appeal was whether the registration of the trade mark NIKE should have been rejected on the ground that as of the registration date of the NIKE mark, there existed another identical earlier mark on the trade mark register. The appellant, Campomar SL ("Campomar"), was the proprietor of the earlier mark and had appealed against the decision of the High Court Judge, who had refused to overturn the decision of the Principal Assistant Registrar of Trade Marks ("PAR"), and allowed the trade mark NIKE to proceed to registration.

NEW REGULATORY FRAMEWORK FOR CREDIT RATING AGENCIES

January 2012 - Finance. Legal Developments by Drew & Napier LLC .

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The Monetary Authority of Singapore (“MAS”) has issued a set of subsidiary legislation and regulations creating a new regulatory framework for credit rating agencies (“CRAs”).

PROPOSED CONSOLIDATION OF REGULATORY CONTROLS OF WESTERN MEDICINES UNDER THE HEALTH PRODUCTS ACT

January 2012 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Health Sciences Authority (“HSA”) is holding a public consultation on its proposal to consolidate the legislative provisions regulating western medicine into a single statute. Currently, the regulatory controls are found in separate pieces of legislation, including the Medicines Act and the Poisons Act. It is proposed to transfer these provisions into the Health Products Act. 

GUIDANCE PROVIDED ON MALAYSIAN COMPETITION LAWS

January 2012 - EU & Competition. Legal Developments by Drew & Napier LLC .

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IMPLEMENTATION OF COMPETITION LAW IN MALAYSIA Competition law in Malaysia will become a reality next year, with the Malaysia Competition Act 2010 (“Act”) due to take effect from 1 January 2012.

CCS FINES MODELLING AGENCIES FOR PRICE FIXING

December 2011 - EU & Competition. Legal Developments by Drew & Napier LLC .

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On 23 November 2011, the Competition Commission of Singapore (“CCS”) issued an infringement decision against 11 modelling agencies for fixing fees for modelling services in Singapore under the aegis of its trade association, the Association of Modelling Industry Professionals (“AMIP”). Ten agencies were fined a total of S$361,596, with individual fines ranging from S$3,000 to S$132,315.

SINGAPORE HIGH COURT RULES THAT FORFEITURE-FOR-COMPETITION CLAUSES ARE NOT RESTRAINTS OF TRADE

November 2011 - Employment. Legal Developments by Drew & Napier LLC .

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Mano Vikrant Singh v Cargill TSF Asia Pte Ltd [2011] SGHC 241

In a landmark decision, the Singapore High Court has ruled in favour of an employer, holding that a clause in an employee incentive bonus plan which requires the employee to forgo deferred incentive payments if he resigns and joins a competitor (referred to as a “forfeiture-for-competition” clause) is not a restraint of trade. The employer need not show that such a clause is reasonable in order to enforce it.

International Arbitration Quarterly November 2011

November 2011 - EU & Competition. Legal Developments by Drew & Napier LLC .

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In this issue
Reopening an Arbitral Tribunal’s Finding on the Legality of an Underlying Contract …………………………………………………1
By Cavinder Bull, SC & Kong Man Er
Recent Developments in the Enforcement of DAB Decisions in FIDIC Conditions of Contract ..…....…………………………….. 3
By Eugene Tan
ICC Rules of Arbitration 2012 ………….. 5
By Jimmy Yim, SC & Erroll Joseph
Accolades ……………..………………….... 7
Newsflash …………………….…………… 7

Who’s Who holds round table event

November 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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The International Who’s Who of Commercial Litigators has brought together three of the leading practitioners in the world to discuss key issues facing lawyers today.

PROPOSED SINGAPORE DATA PROTECTION LAW:

November 2011 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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Ministry Issues Further Public Consultation on Framework Details for National “Do-Not-Call” Registry

The Ministry of Information, Communications and the Arts (“MICA”) has issued a consultation paper relating to the setting-up of a Do-Not-Call (“DNC”) registry. This follows favourable feedback on this proposal, which was raised in MICA’s earlier consultation on setting up a consumer data protection framework in Singapore (“DP Consultation”). Please click here to refer to Drew & Napier LLC’s update on the DP Consultation.

SINGAPORE COMPETITION LAW WATCH

October 2011 - EU & Competition. Legal Developments by Drew & Napier LLC .

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In this issue Singapore Competition Law Watch ..................................................1

Regulatory Updates .……….………….2

Industry News …….…….….…………..4

– Anti-Competitive Agreements …….4

– Abuse of Dominance ……………....9

– Merger Regulations ………………13

– Procedural Matters …………….....16

Feature Article ....……………..……….17

Demystifying Merger Notifications – Procedures and Practical Tips Do you know? ………………..………..20

CCS FINES ANOTHER PRICE-FIXING CARTEL

October 2011 - EU & Competition. Legal Developments by Drew & Napier LLC .

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The Competition Commission of Singapore (“CCS”) issued an infringement decision on 30 September 2011, imposing financial penalties on 16 Employment Agencies (“EAs”) in Singapore, specifically for the fixing of monthly salaries of new Indonesian Foreign Domestic Workers (“FDWs”). The case, CCS 500/001/11 Fixing of monthly salaries of new Indonesian Foreign Domestic Workers in Singapore (“EA Case”), serves as a reminder to all companies operating in Singapore, regardless of their size, to ensure compliance with Singapore’s competition laws in the conduct of their businesses.

SIC CONSULTS ON AMENDMENTS TO TAKE-OVER CODE

October 2011 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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INTRODUCTION
The Securities Industry Council (“SIC”) has issued a consultation paper (“CP”) on proposed amendments to the Singapore Code of Take-overs and Mergers (“Code”). The consultation closes on 7 November 2011.

SPECIFIC PERFORMANCE NOT AUTOMATIC FOR CONTRACTS FOR LAND

October 2011 - Real Estate & Property. Legal Developments by Drew & Napier LLC .

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E C Investment Holding Pte Ltd v Ridout Residence Pte Ltd and others and another appeal [2011] SGCA 50

The Singapore Court of Appeal has, for the first time, held that specific performance will not automatically be granted for contracts relating to immovable property.

SECOND CONSULTATION ON REGULATORY REGIME FOR FUND MANAGEMENT COMPANIES

October 2011 - Finance. Legal Developments by Drew & Napier LLC .

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INTRODUCTION
The Monetary Authority of Singapore (“MAS”) has issued a consultation paper (“CP”) containing several regulatory enhancements and the draft legislative amendments which will give effect to the new regulatory regime for fund management companies (“FMCs”).

SGX LISTING MANUAL REVISIONS STRENGTHEN CORPORATE GOVERNANCE PRACTICE

September 2011 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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INTRODUCTION

The Singapore Exchange Ltd (“SGX”) has issued extensive amendments to the listing rules (“Listing Rules” or “LR”) of the Singapore Exchange Securities Trading Limited (“SGX-ST”) Listing Manual (“Listing Manual”) to strengthen corporate governance and foster greater corporate disclosure.

TELECOMS, MEDIA & TECHNOLOGY UPDATE

September 2011 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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MICA ISSUES PUBLIC CONSULTATION ON PROPOSED CONSUMER DATA PROTECTION REGIME

REVISITING “SUBJECT TO CONTRACT” CLAUSES

September 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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Norwest Holdings Pte Ltd (in liquidation) v Newport Mining Ltd and another appeal [2011] SGCA 42

BANKS’ DUTY OF CARE TO CUSTOMERS

September 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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The Court of Appeal has ruled that a private bank owed its customer a duty of care both in contract and in tort, even though the agreements entered into between the parties did not contain any express terms requiring the bank to advise the customer. However, in its judgment, the Court of Appeal expressed the view that banks and other financial institutions may, with the use of appropriately drafted disclaimers or exclusion clauses, prevent a duty of care from arising.

MAS ROLLS OUT SAFEGUARDS FOR RETAIL INVESTORS

August 2011 - Finance. Legal Developments by Drew & Napier LLC .

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1. Financial Advisers (Amendment) Regulations 2011
2. Notice on the Sale of Investment Products (Notice SFA 04-N12)
3. Notice on Recommendation of Investment Products (Notice FAA-N16)

CHANGE IN TRADING HOURS AT SGX

August 2011 - Finance. Legal Developments by Drew & Napier LLC .

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From 1 August 2011, market prices and data will be generated continuously throughout the day including the period from 12.30pm to 2.00pm, and disseminated through existing data-feed channels, where investors normally obtain such information.

DREW & NAPIER LLC COMPETITION LAW QUARTERLY UPDATE

August 2011 - EU & Competition. Legal Developments by Drew & Napier LLC .

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1 Singapore Competition Law
Watch
5 Regulatory Updates

UK HIGH COURT RULES THAT ...

August 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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“ALL REASONABLE ENDEAVOURS” OBLIGATION NOT LIMITED BY A PARTY’S COMMERCIAL INTERESTS

Jet2.com Ltd v Blackpool Airport Ltd [2011] EWHC 1529 (Comm)

ARBITRABILITY OF INSOLVENCY RELATED CLAIMS

August 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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In this issue
Arbitrability of Insolvency Related Claims
Retention of Title in International Sale of Goods
Should the Courts Injunct Arbitration Proceedings on the Basis of an Alleged Settlement Agreement?
Non-Arbitrability of Disputes With Public Interest Elements
ICCA Conference 2011

PHEIM LOSES APPEAL AGAINST MARKET MANIPULATION RULING

August 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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Tan Chong Koay & Anor v Monetary Authority of Singapore [2011] SGCA 36

In September 2010, the Singapore High Court ruled that Tan Chong Koay (“Tan”) and Pheim Asset Management Sdn Bhd (“Pheim Malaysia”) had contravened section 197(1)(b) of the Securities and Futures Act (“SFA”) by trading with the intention of creating a false or misleading appearance in the price of certain securities.

SGX ISSUES SUSTAINABILITY REPORTING GUIDE

July 2011 - Finance. Legal Developments by Drew & Napier LLC .

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The Singapore Exchange Limited (“SGX”) has issued a policy statement (“Policy Statement”) and an accompanying guide (“Guide”) on sustainability reporting.

Proposed Revisions to the Code of Corporate Governance

July 2011 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Corporate Governance Council (“Council”) has issued a consultation paper with proposed revisions to the Code of Corporate Governance (“Code”). These amendments seek to promote a high standard of corporate governance among listed companies in Singapore and will bring the Code in line with international best practices.

An overview on the possible effects on Directors of Singapore companies

July 2011 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Arising from the proposed Amendments to the Provisions Relating to Directors in the Companies Act and the Code of Corporate Governance

RECENT ANNOUNCEMENTS FROM SGX

July 2011 - Finance. Legal Developments by Drew & Napier LLC .

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The Singapore Exchange Limited (“SGX”) recently made the following announcements which will improve its competitiveness and facilitate trading.

THE EFG BANK CASE: A WORD ON CONCLUSIVE EVIDENCE CLAUSES

June 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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Jiang Ou v EFG Bank AG [2011] SGHC 149

In the recent decision of Jiang Ou v EFG Bank AG [2011] SGHC 149, the Singapore High Court awarded damages of approximately US$2.33 million to a customer for losses suffered as the result of 160 unauthorised transactions.

International Tax Review

June 2011 - Tax & Private Client. Legal Developments by Drew & Napier LLC .

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Ong Sim Ho, Director and Head of Tax at Drew & Napier LLC, was one of 9 experts from the Asia-Pacific region chosen to comment on what tax planning opportunities are available and how best to manage risk.

Federal Administrative Court imposes obligations on Google Street View

June 2011 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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On March 30th, 2011, the Federal Administrative Court ruled on the Google Street View case.

Federal Supreme Court publishes Logistep decision

June 2011 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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As previously mentioned (see News dated 30 November 2010), the Swiss Federal Supreme Court held, in a decision dated 8 September 2010, that collecting dynamic IP addresses of persons uploading copyright-protected works and then forwarding those addresses to copyright holders so as to enable them to enforce their rights constitutes an unlawful and unjustifiable breach of the privacy of the persons concerned.

Federal Supreme Court holds Logistep’s "Anti-piracy" tracking service unlawful

June 2011 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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Logistep AG had been extracting the dynamic IP addresses of persons uploading copyright-protected works to P2P networks and then forwarding those addresses to the relevant copyright holders in order to allow them to identify the persons using the IP addresses by filing criminal complaints against “unknown” persons.

The UK Bribery Act 2010

June 2011 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Bribery is taking on an increasingly cross-border character. Recently, 2 Singaporeans were alleged to be involved in bribing 6 match officials to fix 2 matches held in Turkey between Latvia, Bolivia, Estonia and Bulgaria.

CCS RELEASES REPORT ON RETAIL PETROL MARKET INQUIRY

June 2011 - EU & Competition. Legal Developments by Drew & Napier LLC .

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On 19 May 2011, the Competition Commission of Singapore (“CCS”) published a staff report summarising its findings following a recent market inquiry into the competitiveness of the Singapore retail petrol market.

CCS AWAITS REPRESENTATIONS ON PROPOSED PRICE-FIXING DECISIONS

June 2011 - EU & Competition. Legal Developments by Drew & Napier LLC .

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On 13 May 2011 and 18 May 2011, the Competition Commission of Singapore (“CCS”) issued two proposed infringement decisions (“PID”) relating to suspected contraventions of section 34 of the Singapore Competition Act (Cap. 50B) (“Act”).

INTELLECTUAL PROPERTY NEWS

May 2011 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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INDEX TO ARTICLES
Trade Marks / Passing Off....................................1
LV Mark Not Tarnished.................................1
Amanusa Triumps Again...............................3
Mio v Singtel’s Mio.........................................5
Legend – “Shen Hua”....................................6
Clinique Not Clinic.........................................8

WHEN CAN A DIRECTOR INSPECT A COMPANY’S DOCUMENTS?

May 2011 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Hau Tau Khang v Sanur Indonesian Restaurant Pte Ltd & Anor [2011] SGHC 97

Summary

The Singapore High Court recently clarified the principles relating to a director’s right of inspection of the company’s accounts and other documents under section 199(3) of the Companies Act (“Act”). A director is entitled, as of right, to have access to the company’s accounts and other documents, subject to certain exceptions.

 

UK COURT OF APPEAL RULES...

May 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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UK COURT OF APPEAL RULES THA “ENTIRE AGREEMENT” CLAUSE MAY NOT EXCLUDE LIABILITY FOR MISREPRESENTATION

SGX Updates

May 2011 - Finance. Legal Developments by Drew & Napier LLC .

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1. SGX shortens time-to-market for secondary fund raising

On 9 December 2010, the Singapore Exchange Limited (“SGX”) announced measures to shorten time-to-market for secondary fund raising exercises. The measures formalise certain temporary measures on fund raising implemented in early 2009 to facilitate the raising of capital by companies under tight credit conditions during the global financial crisis.

 

MAS REVISES CODE ON COLLECTIVE INVESTMENT SCHEMES

May 2011 - Finance. Legal Developments by Drew & Napier LLC .

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The Monetary Authority of Singapore (“MAS”) has issued a revised Code on Collective Investment Schemes (“Code”). The revised Code strengthens the core investment requirements for collective investment schemes (“schemes”), introduces new guidelines for specialised fund categories such as index funds and money market funds, and puts in place other safeguards which enhance investor protection.

THE PREVENTION OF CORRUPTION ACT

May 2011 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Overview

Recently, there has been increased attention worldwide in the area of anti-corruption law due to the enactment of the UK Bribery Act 2010 (“UK Bribery Act”). The UK Bribery Act will come into effect in the UK on 1 July 2011.

UK SUPREME COURT ABOLISHES EXPERTS’ IMMUNITY FROM SUIT

May 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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Jones v Kaney [2011] UKSC 13
Summary

The UK Supreme Court, the UK’s highest court, has abolished the immunity from suit for breach of duty that experts have enjoyed in relation to their participation in legal proceedings.

Quarterly Update: Competition Law

May 2011 - EU & Competition. Legal Developments by Drew & Napier LLC .

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In This Issue
1 Singapore Competition Law
Watch
3 Regulatory Updates
9 Industry News
- Aviation
- FMCG
- Manufacturing &
Construction
- Pharmaceutical/Medical
- Others
20 Feature Article
22 Do you know?

NEW BROAD-BASED WITHHOLDING TAX EXEMPTION FOR BANKS

May 2011 - Tax & Private Client. Legal Developments by Drew & Napier LLC .

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The Monetary Authority of Singapore (“MAS”) has issued a tax circular (FDD Cir 02/2011) titled “Tax Exemption on Payments Falling under Section 12(6) of the Income Tax Act Made to Non-Residents (Excluding Permanent Establishments in Singapore) by Banks, Finance Companies and Certain Approved Entities” (“Circular”).

THE AIROCEAN CASE: LESSONS FOR INDEPENDENT DIRECTORS

May 2011 - Crime. Legal Developments by Drew & Napier LLC .

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PP v Chong Keng Ban @ Johnson Chong & Ors [2011] SGDC 4

Summary

In PP v Chong Keng Ban @ Johnson Chong & Ors [2011] SGDC 4, an independent director of a listed company was sentenced to 4 months' imprisonment for consenting to the company making a misleading statement.

This is the first time that an independent director has been sentenced to a term of imprisonment for this offence. In the court's view, a custodial sentence was justified as the independent director was the "most culpable" and had played an "active role" in the events which took place.

The independent director has appealed against his conviction and sentence.

INTERNATIONAL ARBITRATION UPDATE

March 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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NEW YORK COURT GRANTS PRE-AWARD ATTACHMENT IN AID OF SINGAPORE ARBITRATION

SINGAPORE DATA PROTECTION LAW EXPECTED TO BE INTRODUCED IN 2012

March 2011 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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Singapore’s Minister for Information, Communications and the Arts announced yesterday in Parliament that a new data protection bill will likely be introduced in early 2012.

LEGISLATION UPDATE

February 2011 - Employment. Legal Developments by Drew & Napier LLC .

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NEW TRIPARTITE MEDIATION SCHEME TO BE INTRODUCED FOR EXECUTIVE EMPLOYEES

LEGISLATION UPDATE

February 2011 - Finance. Legal Developments by Drew & Napier LLC .

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MAS PROPOSES ENHANCED POWERS FOR INSURANCE RESOLUTION

REGULATION UPDATE

February 2011 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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MAS ISSUES GUIDANCE ON FIT AND PROPER CERTIFICATION OF REPRESENTATIVES

TELECOMS, MEDIA & TECHNOLOGY UPDATE

February 2011 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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SINGAPORE DATA PROTECTION LAW EXPECTED TO BE INTRODUCED IN 2012

Cartel Regulation 2011

February 2011 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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What is the relevant legislation and who enforces it?

DAMAGES MAY BE AWARDED FOR POST-BREACH PERIOD

December 2010 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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In one of the very few cases on assessment of damages heard by the Court of Appeal, the Court of Appeal has held that post-breach losses may be recoverable, thereby affirming the High Court’s decision in Fish & Co Restaurants Pte Ltd v MFM Restaurants Pte Ltd & Another [2010] 1 SLR 1104.

STRICTER REGULATORY MEASURES FOR SALE OF INVESTMENT PRODUCTS TO RETAIL CUSTOMERS

November 2010 - Finance. Legal Developments by Drew & Napier LLC .

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In March 2009, not long after the bankruptcy of Lehman Brothers Holdings Inc. (“Lehman”), the Monetary Authority of Singapore (“MAS”) issued a consultation paper containing proposals to revise MAS’ regulatory framework for unlisted investment products, such as the credit-linked structured notes which underwent drastic devaluation following Lehman’s collapse.

UK SUPREME COURT RULES THAT COURTS CAN REVIEW ARBITRAL TRIBUNAL’S DECISION ON JURISDICTION

November 2010 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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In this decision of international importance, the UK Supreme Court unanimously held that where a party resists enforcement of an arbitration award on the basis that there was no arbitration agreement binding upon it under the laws of the country where the award was made, the court of the country in which enforcement is sought is entitled, and indeed bound, to revisit the question of the arbitral tribunal’s jurisdiction.

Competition Law Quarterly Update Q4/2010

November 2010 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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In This Issue  -  Singapore Competition Law Watch  -  Asean Competition Law Watch  -  Regulatory Updates  -  Industry News  -  Aviation  - Financial  -  FMCG  -  Hospitality  -  Manufacturing  -  Pharmaceutical/Medical  -  Feature Article  -  Do you know?

“Overreaching” – A Creature of General Law

November 2010 - Real Estate & Property. Legal Developments by Drew & Napier LLC .

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The Singapore High Court has held that a mortgagee’s power to effect the sale and conveyance of a mortgaged property free from all subsequent encumbrances – the concept of “overreaching” – applies in general law, independent of any statute. In such situations, a subsequent mortgagee’s interest in the mortgaged property is extinguished and he can only look to the surplus sale proceeds to satisfy his interest.

CREDITORS OF LARGER LOANS DO NOT AUTOMATICALLY HAVE GREATER RIGHTS THAN CREDITORS OF SMALLER LOANS

October 2010 - Finance. Legal Developments by Drew & Napier LLC .

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In April 2010, the Singapore High Court found Silverlink Holdings Limited (“Silverlink”), the parent holding company of luxury resort chain, Amanresorts, liable for breach of contract for failing to issue convertible loan notes to the Plaintiffs, two companies owned by the Schroder Asian Properties (“SAP”) Fund.  

MAS Consults on Proposed Amendments to the Insurance Act

September 2010 - Finance. Legal Developments by Drew & Napier LLC .

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On 8 September 2010, the Monetary Authority of Singapore (the “MAS”) issued a consultation paper with proposed amendments to the Insurance Act (the “IA”). The aim of these amendments is to improve the MAS’ regulatory framework for persons engaged in insurance business and who act as insurance intermediaries in Singapore.

MICA Consults on Proposed Changes to Telecommunications Act

September 2010 - TMT ( Technology, Media & Telecoms). Legal Developments by Drew & Napier LLC .

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The Ministry of Information, Communications and the Arts (“MICA”) has issued a consultation paper (“CP”) reviewing the Telecommunications Act (the “TA”). The review aims to keep the statute up-to-date with the latest developments in the rapidly-changing telecommunications (“telecoms”) industry.

CCS Issues Statement of Decision In Respect Of The Singapore Medical Association’s Fee Guidelines

September 2010 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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On 18 August 2010, the Competition Commission of Singapore (the “CCS”) published its final Statement of Decision in respect of the Singapore Medical Association’s (the “SMA”) Guidelines on Fees (“GOF”). The CCS concluded that the GOF infringed section 34 of the Competition Act1, and did not benefit from the Net Economic Benefit exclusion (the “NEB exclusion”).

Singapore High Court Declares Removal of Director Invalid

September 2010 - Employment. Legal Developments by Drew & Napier LLC .

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In a case described by the Singapore High Court as one which reflects the “unfortunate but increasing incidence of fractious generational transitions within Singapore family businesses”, the Singapore High Court has declared invalid the removal of Ng Joo Soon as a director of Dovechem Holdings Pte Ltd.

LEGISLATION UPDATE

September 2010 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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MOF CONSULTATION PAPERS ON MERGERS AND ACQUISITIONS SCHEME

Singapore Competition Law Watch

September 2010 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Quarterly Update

Collaboration between Singapore Exchange Limited (“SGX”) and Oslo Børs Yields Results

July 2010 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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On 23 February 2010, the SGX and Oslo Børs ASA ("Oslo Børs") announced the first two companies for dual listing on both exchanges.

The two companies were Golden Ocean Group, a dry bulk carrier currently listed on Oslo Børs, and China Fishery Group, an industrial fishing company listed on the SGX.

AGREEMENT STIFLING CRIMINAL PROCEEDINGS TAINTED BY ILLEGALITY;

July 2010 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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AGREEMENT STIFLING CRIMINAL PROCEEDINGS TAINTED BY ILLEGALITY; ARBITRATION AWARD UPHOLDING SUCH AGREEMENT SET ASIDE

MAS REVISES GUIDELINES ON CAPITAL MARKETS SERVICES LICENCE

June 2010 - Finance. Legal Developments by Drew & Napier LLC .

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The Monetary Authority of Singapore (the “MAS”) recently revised its Guidelines on Criteria for the Grant of a Capital Markets Services Licence and Representative’s Licence (the “Guidelines”).

REGULATION UPDATE

June 2010 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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MAS CONDUCTS COMPREHENSIVE REVIEW OF CODE ON COLLECTIVE INVESTMENT SCHEMES

REGULATION UPDATE

May 2010 - Finance. Legal Developments by Drew & Napier LLC .

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MAS REVIEWS REGULATORY REGIME FOR FUND MANAGERS AND EXEMPT FINANCIAL INTERMEDIARIE

Singapore Competition Law Watch: 2010

May 2010 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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(1) Singapore Competition Law Watch (2) ASEAN Competition Law Watch (3) Regulatory Updates (4) Industry News - Aviation - Financial - FMCG - IT - Manufacturing - Media - Pharmaceutical (5) Feature Article (6) Do you know?

Software Patent Upheld

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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In this recent case, the Singapore Court of Appeal (the “Court”) applied well established propositions of patent law to a patent infringement claim relating to a software patent. The Court also commented on the application of the plea of innocent infringement provided by section 69(1) of the Patents Act (Cap. 221).

Innocent Infringement - A Defence Against Damages or Liability?

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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In a Court of Appeal decision regarding a patent infringement case, it was held that the defence of “innocent infringement” applies to damages and not liability.

Impecuniousity Not A Ground For Restoration

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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The Registrar of Patents has issued a decision that when considering an application for restoration of lapsed patents, impecuniosity is not a valid ground for non-payment of renewal fees.

Pensonic Plasma TV Sets In Singapore?

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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The Applicants, Pensonic Corporation Sdn Bhd, applied to register (“Applicants’ Mark”) in Class 9 for electronic products. The Opponents, Matsushita Electrical Industrial Co Ltd, owned registrations of the “PANASONIC” mark (“Opponents’ Mark”) in numerous classes in Singapore for an extensive variety of goods and services. The Opponents’ Mark had been registered in Class 9 for electronic products since 1968 in Singapore.

The Kopitiam War

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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In this trade mark opposition case, the Registry considered the issues of whether commonly used words in local dialects were capable of distinguishing a trader’s services from those of others, and whether evidence of substantial use of a mark was relevant when the mark was held to have no capacity to distinguish a trader’s services from those of others.

Be My Valentino

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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In this case, the luxury fashion brand Valentino Globe B.V. (“the Opponents”) failed in their bid to establish that their marks were well known in Singapore and also failed to prevent the registration of the mark “Emilio Valentino & Device “ ”by Pacific Rim Industries Inc. (“the Applicants”).

Colgate slugs it out with Proctor & Gamble

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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This case involved an application for a device mark showing a slug of toothpaste by Colgate- Palmolive Company (“the Applicants”) for dentifrices in Class 3. The mark was opposed by The Proctor & Gamble Company (“the Opponents”) on the grounds that it was not distinctive and not capable of distinguishing as a badge of origin.

Camel's Burden Not Discharged

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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The Opponents, Worldwide Brands, Inc., failed to adduce sufficient evidence that their CAMEL composite marks were well known marks and failed to prevent the registration of the SWEETCAMEL mark in Class 25. The Registrar’s decision which is summarized below was affirmed by the High Court.

Love Lost

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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The High Court allowed an application by Love & Co. Pte Ltd (“Love & Co.”) to invalidate for nondistinctiveness and revoke for non-use the trade mark registration for “LOVE”. The simple word mark “LOVE” had been registered in respect of jewellery, precious stones (including diamonds) and precious metals by The Carat Club Pte Ltd (“TCC”).

MOBIS’ not MOBIL

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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In this appeal against the unfavourable decision of the Principal Assistant Registrar of Trademarks (“PAR”), Mobil Petroleum Co., Inc. (“Mobil”) failed it its bid to prevent registration of the “Mobis” trademark by Hyundai Mobis (“Hyundai”) in respect of Class 12 goods. This is another decision by the High Court touching on the relatively new section 8(3) of the Singapore Trademarks Act which governs trade mark opposition on the basis of a “well-known” mark.

Virtual Map Provider Reaches The End of the Road

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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The Singapore Court of Appeal has refused to grant leave to appeal against a High Court Judge’s decision to uphold the District Judge’s judgment that the “virtual maps” placed online by a private map provider infringed the copyright belonging to its ex-licensors, a local statutory board.

Luxury Resort Owner Takes On Residential Property Developer

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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Amanresorts, the owner of the AMANUSA resort in Bali took out an action to restrain the use of “AMANUSA” on a residential property development in Singapore. The action succeeded on the grounds of passing off and an injunction was granted on the basis that AMANUSA was a well-known mark in Singapore.

Trade Marks In LV Watches Tarnished

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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The High Court granted relief in an action for trade mark infringement and passing off of Louis Vuitton 4 trade marks and shed some light on how the question of dilution of well-known trade marks would be approached.

Common "Rooster" Stays Alive

March 2010 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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The first defendant was the proprietor of two “Rooster” trade marks, one registered in Singapore covering cordyceps, and the other registered in China. The background of its proprietorship of both marks is set out as follows:

RESTRAINT OF TRADE CLAUSES IN THE CONTEXT OF A SALE OF BUSINESS

February 2010 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Singapore Court of Appeal has affirmed that Singapore courts will take a more liberal approach when considering restrictive covenants in the context of a sale of business, compared to a situation where such covenants are contained in a contract of employment.

PROPOSED LISTING MANUAL AMENDMENTS TO STRENGTHEN CORPORATE GOVERNANCE PRACTICE

January 2010 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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The Singapore Exchange Ltd (the “SGX”) has issued a public consultation paper which sets out proposed amendments to the Listing Manual of the Singapore Exchange Securities Trading Ltd (the “Listing Manual”). The proposals are the result of the SGX’s latest rule review. Such reviews are carried out annually to keep abreast of industry developments and to enhance the standards of the listed companies.

SINGAPORE HIGH COURT CLARIFIES SCOPE OF FORCE MAJEURE AND TERMINATION CLAUSES

January 2010 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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The Singapore High Court has ruled that a rise in prices of sand, caused by a ban on sand exports (the “sand ban”) by the Indonesian government in January 2007, did not constitute a force majeure event which would relieve a concrete supplier of its obligations to supply concrete to a construction company. The court also highlighted the importance of being clear and unequivocal when communicating one’s intention to terminate a contract.

EROSION OF REMITTANCE BASIS OF TAXATION AND REVIVAL OF THE SOURCE ISSUE

November 2009 - Projects, Energy & Natural Resources . Legal Developments by Drew & Napier LLC .

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The charging section in the Income Tax Act brings within Singapore’s taxing jurisdiction not only income that is sourced in Singapore, but also income which is received in Singapore from outside of Singapore. In the light of criticism against remittance of income as a basis for taxation and the persistent lobbying of businesses in Singapore, recent amendments to the Income Tax Act have been steadily chipping away at the remittance basis of taxation in Singapore.

INCOME TAX (AMENDMENT) (EXCHANGE OF INFORMATION) BILL 2009

October 2009 - Tax & Private Client. Legal Developments by Drew & Napier LLC .

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The Income Tax (Amendment) (Exchange of Information) Bill (the “Bill”) has been introduced in Parliament. The Bill proposes to amend the Income Tax Act to bring the level of assistance Singapore can provide to foreign jurisdictions under Avoidance of Double Taxation Agreements (“DTAs”) in line with the Organization for Economic Cooperation and Development’s Standard on the exchange of information for tax purposes (the “Standard”)

Merger Control 2009

October 2009 - Tax & Private Client. Legal Developments by Drew & Napier LLC .

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The international regulation of mergers and joint ventures in 64 jurisdictions worldwide

BANKS FACE CONSEQUENCES OF NON-COMPLIANCE WITH INTERNAL PRACTICES AND ACCEPTED BANKING PROCEDURES

September 2009 - Finance. Legal Developments by Drew & Napier LLC .

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The Singapore High Court has criticised the conduct of the Singapore branches of two foreign banks in failing to adhere to internal control mechanisms and accepted banking procedures in the verification of signatures on certified extracts of board resolutions. The court also provided valuable guidance on the steps banks could take to ensure the bona fides of such certified extracts.

QUARTERLY UPDATE: Competition Law

August 2009 - EU & Competition. Legal Developments by Drew & Napier LLC .

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(1) Singapore Competition Law Watch (2) Regional Focus - China (3) Regulatory Update (4) Industry News - Aviation - Petrochemical - Cement - Financial - IT - Others (5) Do you know?

REGULATION UPDATE: CATALIST TRANSITION MEASURES

August 2009 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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The Singapore Exchange Limited (the “SGX”) has announced two measures to assist companies listed on Catalist which have yet to appoint a sponsor (“Catalist-NS companies”). The measures are intended to provide financial assistance and time extension to Catalist-NS companies in light of the current challenging economic climate.

PROPOSED AMENDMENTS TO DEFINITION OF “CARRYING ON INSURANCE BUSINESS” IN INSURANCE ACT

May 2009 - Finance. Legal Developments by Drew & Napier LLC .

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The Monetary Authority of Singapore (the “MAS”) has issued a consultation paper (the “Consultation Paper”) on its proposal to amend the definition of “carrying on insurance business” in the Insurance Act. The consultation is open for public feedback until 12 June 2009.

SINGAPORE COURT OF APPEAL ADDRESSES ISSUES IN PATENT INFRINGEMENT CLAIM RELATING TO BUSINESS METHOD

May 2009 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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In this recent case, the Singapore Court of Appeal (the “Court”) applied well established propositions of patent law to a patent infringement claim relating to a business method. The Court also commented on the application of the plea of innocent infringement provided by section 69(1) of the Patents Act (Cap. 221).

IP PROTECTION IN SINGAPORE – RECENT DEVELOPMENTS IN A MATURING LEGAL LANDSCAPE

May 2009 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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Singapore is one of the most popular places in Asia for the commercialization of ideas and innovations, particularly in such fields as biomedical sciences and the creative and research industries. One of the greatest pull factors for global businesses to Singapore is the nation’s robust intellectual property (IP) protection and legal infrastructure. In fact, since 2002, Singapore has been ranked top in Asia for IP protection by the World Economic Forum (WEF), the Institute for Management Development (IMD) and the Political Economic Risk Consultancy (PERC). Singapore also emerged top in Asia for IP competitiveness in the Global IP Index conducted by law firm Taylor Wessing LLP with the support of Managing Intellectual Property in 2008.

AN INTRODUCTION TO THE LIFE SCIENCES LEGISLATIVE LANDSCAPE IN SINGAPORE

May 2009 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Life Sciences industry has for some years been lauded as a key industry for Singapore’s economy. The Singapore government is fully committed to nurturing and cultivating this industry, by investing in and developing several critical infrastructures for the Life Sciences industry.

INTELLECTUAL PROPERTY NEWS

May 2009 - Intellectual Property. Legal Developments by Drew & Napier LLC .

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In this issue, we look at some of the recent interesting Intellectual Property cases.

SCA EXAMINES RELATIONSHIP BETWEEN “ENTIRE AGREEMENT” CLAUSES AND IMPLIED TERMS

May 2009 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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The Singapore Court of Appeal has provided valuable guidance on the relationship between “entire agreement” clauses and implied terms in contracts. An “entire agreement” clause would arguably not, as a matter of principle, exclude the implication of terms into a contract. In order for an “entire agreement” clause to exclude implied terms, such effect must be spelled out clearly and unambiguously in the clause itself.

The Court of Appeal also held that a general duty of good faith could not be implied in law into contracts.

 

New business structure to be launched by the ACRA on 4 May 2009

May 2009 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Accounting and Corporate Regulatory Authority (the “ACRA”) has announced that it will, on 4 May 2009, launch a new business structure known as the limited partnership (“LP”), pursuant to the Limited Partnerships Act 2008 (the “LPA”).

Singapore Competition Law Watch

May 2009 - EU & Competition. Legal Developments by Drew & Napier LLC .

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The Competition Commission of Singapore (CCS) plans to introduce a Marker system and a Leniency Plus system to the existing leniency programme to enhance the effectiveness of CCS’ enforcement action against cartels.

GUIDELINES ISSUED ON ISLAMIC BANKING REGULATIONS

May 2009 - Finance. Legal Developments by Drew & Napier LLC .

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MAS provides summary of banking regulations and directives relating to Islamic financing; also explains treatment of various Islamic banking structures

DIRECTOR FOUND PERSONALLY LIABLE FOR PROCURING COMPANY’S TORTIOUS ACT

May 2009 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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This case illustrates the circumstances in which a court will find a director personally liable for procuring a tortious act by the company of which he is a director.

PRE-CONTRACTUAL NEGOTIATIONS AND DRAFTS MAY BE ADMISSIBLE FOR INTERPRETING AMBIGUOUS TERMS

April 2009 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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The Singapore High Court has affirmed that pre-contractual negotiations and drafts may be admissible for interpreting latently ambiguous terms in the final contract as long as they: (i) are relevant; (ii) are reasonably available to the parties in the situation in which they were at the time of the contract; and (iii) relate to a clear or obvious context.

This principle is subject to one possible exception: extrinsic evidence that was available to only one party may be used against that party to show its subjective intention, so as to reveal what the objective intention of the parties could not be.

MAS ISSUES PUBLIC CONSULTATION ON UNLISTED INVESTMENT PRODUCTS

March 2009 - Finance. Legal Developments by Drew & Napier LLC .

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As part of its major review on investment products, the Monetary Authority of Singapore (the “MAS”) has issued a consultation paper (the “Consultation Paper”) containing its proposals to curb mis-selling and improve disclosure in relation to three product groups (referred to collectively as “unlisted investment products”): debentures and collective investment schemes (“CIS”) which are not traded on any approved exchange, and life policies (including investment-linked life insurance policies (“ILPs”)).

LATEST PRONOUNCEMENT ON WINDING UP APPLICATIONS

March 2009 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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The Court of Appeal has ruled that it may be an abuse of the court’s process for a creditor to threaten winding up proceedings against a debtor company which has offered to place the disputed sum in an escrow account. The court also signalled that a statutory demand issued under section 254(2)(a) of the Companies Act should inform the debtor company that it can either pay the debt or secure or compound for it to the creditor’s satisfaction.

NEW SECURITIES LISTING RULES AND RULE REVISIONS

March 2009 - Finance. Legal Developments by Drew & Napier LLC .

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The Singapore Exchange Limited (the “SGX”) has announced the issuance of new securities listing rules and changes to existing rules which will take effect from 24 March 2009. The new rules and rule amendments were finalised following a public consultation carried out by the SGX in July 2008. Please click here to view that consultation document.

CHANGES TO THE CONSUMER PROTECTION (FAIR TRADING) LEGISLATION

February 2009 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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The Consumer Protection (Fair Trading) Act (the “CPFT Act”) and related subsidiary legislation are set to undergo several changes which will, among other things, extend their scope of protection to consumers of financial products and services.

FURTHER MEASURES TO FACILITATE FUND RAISING

February 2009 - Finance. Legal Developments by Drew & Napier LLC .

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The Singapore Exchange Limited (the “SGX”), in consultation with the Monetary Authority of Singapore (the “MAS”), has introduced several new measures to facilitate listed companies’ fund raising efforts in the current challenging market conditions. These measures are in addition to those already announced by the SGX on 12 January 2009 (click here to refer to our summary of the earlier measures).

SGX CONSULTATION PAPER: LISTING OF LIFE SCIENCE COMPANIES ON CATALIST

February 2009 - Finance. Legal Developments by Drew & Napier LLC .

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The Singapore Exchange Limited (the “SGX”) has launched a public consultation on new listing rules (the “Proposed Rules”) for non-commercialised life science companies to list on Catalist. A “non-commercialised life science company” (“NLSC”) is defined as “a life science company that has not commenced revenue-yielding commercial activities in its primary line of business”, where revenue that is incidental to the primary business is excluded.

CORPORATE DERIVATIVE LIABILITY FOR MARKET MISCONDUCT OFFENCES

February 2009 - Corporate & Commercial. Legal Developments by Drew & Napier LLC .

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Under general principles of corporate law, a corporation is not liable for any contravention of law or offence committed by its employees, except to the extent that the employee can be said to constitute or otherwise represent the directing mind of the company. Typically, the corporation would be attributed with liability only where the employee is a very senior person. In the context of Part XII (Market Conduct) of the Securities and Futures Act (the “SFA”), it may therefore be possible for a corporation to reap the benefit of any market misconduct carried out by its more junior employees.

NEW REGULATORY REGIME FOR REPRESENTATIVES OF CMS LICENSEES AND FAA LICENSEES

February 2009 - Finance. Legal Developments by Drew & Napier LLC .

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The Securities and Futures (Amendment) Bill and the Financial Advisers (Amendment) Bill of 2009 were passed by Parliament on 19 January 2009. They will effect a very significant change to the regulatory regime for representatives employed by holders of capital markets services (“CMS”) licences and financial advisers (“FA”) licences under the Securities and Futures Act (the “SFA”) and Financial Advisers Act (the “FAA”) respectively.

BANKING REGULATIONS PERMIT WIDER RANGE OF ISLAMIC FINANCIAL INSTRUMENTS

January 2009 - Finance. Legal Developments by Drew & Napier LLC .

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The Banking (Amendment) Regulations 2009 (the “Regulations”) came into operation on 19 January 2009. The amendments present financial institutions offering Islamic finance a wider range of instruments with which to manage their liquidity and to match assets with liabilities. They comprise: (i) an amendment to Regulation 23; (ii) a new Regulation 23A; and (iii) a new Regulation 23B.

SGX INTRODUCES MEASURES TO FACILITATE RIGHTS ISSUES

January 2009 - Finance. Legal Developments by Drew & Napier LLC .

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In a news release dated 12 January 2009, the Singapore Exchange Limited (the “SGX”) in consultation with the Monetary Authority of Singapore (the “MAS”) announced new measures to make it easier for listed issuers to carry out secondary fund-raising through rights issues. The proposed changes aim to assist listed issuers seeking equity funding from their shareholders in the current economic climate of reduced credit availability.

COMPETITION COMMISSION OF SINGAPORE PUBLISHES REVISED GUIDELINES ON LENIENCY

January 2009 - EU & Competition. Legal Developments by Drew & Napier LLC .

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The Competition Commission of Singapore (the “CCS”) has gazetted its revised “Guidelines on Lenient Treatment for Undertakings Coming Forward with Information on Cartel Activity Cases” (“Revised Leniency Guidelines”) on 8 January 2009. The Revised Leniency Guidelines came into effect yesterday.

CONTROLLING DIRECTOR MAY BE LIABLE IN CONSPIRACY WITH COMPANY

January 2009 - Litigation & Dispute Resolution. Legal Developments by Drew & Napier LLC .

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The Singapore High Court has held that a company director may, in principle, be liable in conspiracy with a company of which he is the “moving spirit and controlling mind” under circumstances where they have established an arrangement which benefits the company to the detriment of third parties.