This update sets out the scope of the Act and guiding principles underlying the exercise of the power of intervention, key provisions of the Act and the background.

The Act makes consequential and related amendments to the Energy Conservation Act and imposes a carbon tax on certain greenhouse gas emissions of business facilities, measured from 2019 onwards. 

We discuss the key changes, and examine what the latest amendments mean for creditors, debtors and other stakeholders.

In 2018, the legal advancements in Restructuring & Insolvency have been swift and significant. This update looks at some of the noteworthy developments.

On 15 Nov 2018, SGX RegCo announced requirements for listed companies planning to conduct an ICO on the Regulator’s Column.

In Re Fan Kow Hin, the SHC held that funding agreements that have the effect of assigning and selling a proportion of the benefits or proceeds of insolvency claw-back claims are permissible in the context of bankruptcies.

In PP v Elger Kua Meng Tern [2019] SGMC 5, the accused pleaded guilty to using his office premises as a common gaming house, and for providing a Singapore-based remote gambling service.

In Vinmar Overseas (Singapore) Pte Ltd v PTT International Trading Pte Ltd [2018] 2 SLR 1271, the SCA overruled at least four of its own previous judgments given over 20 years.

In IM Skaugen SE and another v MAN Diesel & Turbo SE and another [2018] SGHC 123, the SHC held that the availability of the SICC favoured Singapore as the more appropriate forum to hear the dispute.

In BAZ v BBA and others [2018] SGHC 275, the SHC set aside an award against the minors, noting that it would violate the protection given to minors in contractual relationships under Singapore law.

This Update provides a brief summary of the key statutory and regulatory developments in Singapore for the year 2018.

MOH lauched a public consultation on 4 Dec 2018 seeking views from the public and key stakeholders on possible measures to reduce Singaporeans' sugar intake from pre-packaged sugar-sweetened beverages.

CCCS has cleared the proposed acquisition by NTUC Enterprise Co-operative Limited of Kopitiam Investment Pte Ltd and its subsidiaries.

GEMS will comprise three components: a Listing Grant, a Research Talent Development Grant and a Research Initiatives Grant.

The revisions took effect from 25 January 2019.