The Legal 500

Legal Developments in Singapore

• MYANMAR’S FOREIGN INVESTMENT LAW 2012: A SHORT COMMENTARY

  On 2 November 2012, President Thein Sein signed into law Myanmar’s new Foreign Investment Law (the new FIL), replacing the previous Union of Myanmar Foreign Investment Law of 1988. Pursuant to the new FIL, the Foreign Investment Rules and the Classification of Types of Economic Activities Notification (collectively, the Rules) were published on 31 January 2013. The Rules provide further guidance on the new FIL by expanding upon the rights and duties of foreign investors under the new FIL, as well as clarifying the types of activities for which foreign investment is prohibited or restricted.
  - Stamford Law Corporation

• Competition Appeal Board Dismisses Most Grounds of Appeal by Modelling Agencies

  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.
  - Drew & Napier LLC

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

  NO IMMEDIATE ACTION IS NECESSARY
  - Drew & Napier LLC

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

  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
  - Drew & Napier LLC

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

  PREDICATE OFFENCES
  - Drew & Napier LLC

• Consultation on the recommendations of the Financial Advisory Industry Review

  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.
  - Drew & Napier LLC

• Sweeping changes to the Computer Misuse Act

  The Computer Misuse Act has been renamed the Computer Misuse and Cybersecurity Act. The name change is only the first sign of the myriad of changes within the body of the Act, with new provisions giving the Government “sweeping powers over cyberspace”. The wording of the law now allows a very broad interpretation of the circumstances in which the Government may exercise such “sweeping powers” to order "measures and requirements... as may be necessary...
  - Samuel Seow Law Corporation

• Shin Khai Construction Pte Ltd v FL Wong Construction Pte Ltd [2013] SGHCR 04

  In the case of Shin Khai Construction Pte Ltd v FL Wong Construction Pte Ltd, the Learned Assistant Registrar Jordan Tan AR (“the learned AR”) had to consider the novel question of whether an adjudication determination may be set aside on the ground that the adjudication application was lodged later that the period of entitlement stipulated by s 13(3)(a) of the Building and Construction Industry Security of Payment Act (Cap 30B, 2006 Rev Ed) (“the Act”).
  - Samuel Seow Law Corporation

• Madrid Protocol Concerning the International Registration of Marks

  In accordance with Rule 35(2)(c) of the Common Regulations under the Madrid Agreement and Protocol, the Director General of the World Intellectual Property Organization (WIPO) has, at the request of the Office of the United States of America, established the following new amounts, in Swiss francs, of the individual fee that is payable when the United States of America is designated in an international application, in a designation subsequent to an international registration or in respect of the renewal of an international registration:
  - Samuel Seow Law Corporation

• Mexico joins the Madrid Protocol

  In November 2012, Mexico deposited its instrument of accession to the Madrid Protocol for the International Registration of Marks (“Madrid Protocol”) with the World Intellectual Property Organisation (“WIPO”), the body administering the Madrid Protocol. The treaty will enter into force with respect to Mexico on 19 February 2013. Mexico is the third Latin American country, after Cuba and Colombia, to join the Madrid Protocol.
  - Samuel Seow Law Corporation