News

Health Minister Khaw Boon Wan said on Sunday, 29th October 2006, that the Advance Medical Directive (AMD) would be one of the issues his Ministry would be looking into in the next five years.

ACRA (Accounting & Corporate Regulatory Authority), the national regulatory authority of the audit and public accounting profession in Singapore, became a founding member of the inaugural International Forum of Independent Audit Regulators (IFIAR). Singapore is the only Asian country other than Japan being invited to the IFIAR.

It is reported in TODAY that Singapore Management University is again 'rocking-the-boat' with its bold plan to offer in August 2007 a law degree with less than the traditional 75% legal content. Instead it will offer the degree with 60% legal courses.

It is reported that the Legal Services Personnel Management Review Panel has completed its work and recommends the recruitment programme be tweaked to enable Legal Officers to develop to the fullest of his or her potential within the service.

The Competition Commission of Singapore (CCS) is seeking feedback on the proposed merger regime to be implemented under the Competition Act (Act), which will come into effect on 1 July 2007. The proposed merger regime takes into account international best practices from established competition regimes around the world. Some of the proposed changes will require amendment of the Act.

Ministry of Manpower (MOM) will be tabling in Parliament the Employment of Foreign Workers (Amendment) Bill, which sets out the proposed amendments to the EFWA which seeks to consolidate under a single Act, the legislative authorities for the issuance and enforcement of Work Permits and S Passes under the EFWA, and Employment Passes under the Immigration Act (IA). With the consolidation, the EFWA will be renamed the Employment of Foreign Manpower Act (EFMA) to reflect its broader coverage. As the EFMA will have an impact on all current and prospective foreign employees and their employers, MOM would like to present a draft of the EFMA and invite feedback from all interested stakeholders and members of the public.

Government announced on 17 August 2006, its in-principle acceptance of the recommendation of the Third Committee on the Supply of Lawyers chaired by the former Attorney-General, to allow Singaporean citizens or Permanent Residents ("PRs") who graduated from Overseas Scheduled Universities with Second Class (Lower Division) Honours to practise law in Singapore, provided they possessed certain relevant work experience or qualifications.

Mr Lim Seng Siew shared his experiences and views on the Knowledge Management Systems in a Small Law Practice. The presentation made during the Law Society's Annual Practice Management Seminar is found at this link.

In July 2005, MAS announced that it is prepared to consider mortgage insurance as an alternative risk mitigant to higher capital charge on certain loans and that it would study the appropriate regulatory framework for mortgage insurers. The consultation paper sets out the proposed regulatory framework for mortgage insurance business. The paper also describes how mortgage insurance will be treated in the calculation of the capital requirements for locally incorporated banks.

Three Australian law firms - Talbot Olivier, Durack Zilko and Brett Davies Lawyers - may become the first-ever listed legal practices, following the launch of Integrated Legal Holdings’ (ILH’s) A$14m initial public offering.

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