eOASIS is Rajah & Tann Singapore LLP's legal information website for clients, containing business and legal information prepared from a practitioner's viewpoint. It has four different modules, updated regularly, and materials range from commentaries on the latest legal developments to key legal and business information.
This Update provides a brief summary of the key statutory and regulatory developments in Singapore for the year 2018.
The European Union-Singapore Free Trade Agreement ("EUSFTA") is the first free trade agreement between the European Union ("EU") and an ASEAN country. When it comes into force, it will likely produce an increase in volume of trading opportunities between the EU and Singapore due to tariff elimination and reduced non-tariff barriers. Amongst other things, this Update outlines the impact of the EUSFTA on businesses' exports to the EU. The EUSFTA, which was approved by the EU Parliament on 13 February 2019, is anticipated to be ratified in 2019.
On 24 January 2019, District Judge Kenneth Yap handed down sentences to an accused person who had pleaded guilty to operating a common gaming house and to providing a Singapore-based remote gambling service. This judgment is noteworthy for the significantly harsher penalty that was meted out to the accused for his transgressions under the Remote Gambling Act, compared to his similar offence under the Common Gaming Houses Act, due to the judge’s view of that online gambling posed a much greater threat to Singapore society compared to gambling which takes place in a physical environment, given the pervasiveness of the former and the difficulty of its detection.
The Monetary Authority of Singapore has issued a revised Singapore Code on Take-overs and Mergers to clarify its application to companies with a dual class share structure with a primary listing on the Singapore Exchange.
The revisions took effect from 25 January 2019. This Update takes a look at the key changes made to the Code.