News

The Law Society Arbitration Scheme (LSAS) was officially launched on 1 August 2007 at the Singapore Management University. The LSAS is a quick and cost-effective way for parties to have their dispute resolved by a binding but private process of arbitration.

The new Hong Kong Unsolicited Electronic Messages Ordinance, was published in the Gazette on June 1, 2007 and is implemented in two phases to regulate the sending of commercial electronic messages.

The Public Transport Council (PTC) will be further tightening the quality of service (QoS) standards for basic bus services provided by the two licensed public transport operators, SBS Transit Ltd and SMRT Buses Ltd. A key change is that the PTC will require the bus operators to run at least 80% of their bus services at headways or frequencies of not more than 10 minutes, instead of the present 15 minutes, during weekday peak hours. This change will be phased in over two years.

The Law Society of Singapore has amended its Legal Profession (Professional Conduct) Rules (the ‘Rules’) to ensure that that Singapore meet its international obligations required by the Financial Action Task Force (of which Singapore is a member country), an inter-governmental body set up to develop and promote policies to combat money laundering and terrorist financing and to monitor such activities.

The minority objectors to the en-bloc sale of Futura Condominium have appealed the Strata Title Board decision to allow the sale to the High Court.

On 24 May 2006 , Singapore Telecommunications Limited (“SingTel”) submitted an appeal to the Minister for Information, Communications and the Arts under Section 27(2) of the Media Development Authority of Singapore Act (“MDA Act”) against the decision dated 10 May 2006 of the Media Development Authority of Singapore (“MDA”) on exclusive carriage agreements.

Professor Timothy Endicott, Professor of Legal Philosophy at the University of Oxford, has been appointed as the first Dean of the Faculty of Law at Oxford. The appointment will come into effect on 1 October 2007.

The Islamic Religious Council of Singapore, MUIS, is proposing that all Muslims be included under the Human Organ Transplant Act (HOTA).

Presently, there are no provisions in the Insurance Act to govern the nomination of beneficiaries to the proceeds from insurance policies. MAS will be amending the Insurance Act to incorporate a framework for the nomination of beneficiaries. MAS had, in December 2005, issued a consultation paper on the proposed framework and MAS’ responses to the feedback received during the consultation were published in April 2006.

At its second annual Public Accountants Conference on 24 July 2007 at the Raffles City Convention Centre, ACRA launched 3 consultation documents: (i) ACRA’s Regulatory Strategy on Auditing and Corporate Reporting; (ii) ACRA’s Public Consultation on the Registration Framework for Public Accountants and the Path to becoming a Public Accountant in Singapore; and (iii) The Public Accountants Oversight Committee (PAOC)’s Ethics Committee’s proposed Code of Professional Conduct & Ethics.

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