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Contents


  1. Lasting Power of Attorney: Take Control of Your Affairs Tomorrow, Now

  2. Regulating Cryptocurrency Exchanges in Singapore

  3. Employment Act Review: Update

  4. An investment contract or unlicensed moneylending?

  5. The Madrid Protocol - How brand owners can protect their trademarks internationally

  6. Back to the future on stamp duty on share purchase agreements? And the contingency principle


Lasting Power of Attorney: Take Control of Your Affairs Tomorrow, Now


In 2010, the Ministry of Health reported that 20,000 Singaporeans suffer from dementia. Then, the prevalence rate of dementia was 5.7% among those aged 65 years and above.[1] This was below the reported rate of incidence in other countries. In addition, it was predicted that the prevalence rate would more than double to 45,000 by 2020. By 2014, it was projected that the figure previously projected for 2020 would be met ahead of time and by 2015![2]

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Regulating Cryptocurrency Exchanges in Singapore


In previous articles in this on-going series of articles on cryptocurrencies, blockchain and Initial Coin Offerings ("ICOs"), we discussed how 10 different jurisdictions around the world regulate ICOs, including the approach as set out by the Monetary Authority of Singapore ("MAS") in their Guide to Digital Token Offerings issued on 14 November 2017 (the "MAS Guide") and the definition of "securities" under section 2(1) of the Securities and Futures Act (Cap. 289) (the "SFA"). In this update, we explore the MAS Guide and MAS's Guidelines on the Regulation of Markets (Guideline No: SFA 02-G01, 1 July 2005) ("Market Guidelines) which may apply to Bitcoin and cryptocurrency exchanges. According to Coindesk, Bitcoin exchanges allow the transfer of fiat currencies, such as USD, into Bitcoin or vice versa. Some exchanges also allow Bitcoin to be exchanged with other digital currencies such as Ether, Ripple, Litecoin etc. ("Cryptocurrency Exchanges").

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Employment Act Review: Update


In our CNPupdate of 23 February 2018, we highlighted 3 areas of review of the Employment Act ("EA") which the Ministry of Manpower are looking into. In particular:

  • Whether the core provisions of the EA (e.g. provisions relating to public holiday and sick leave entitlements, payment of salary and allowable deductions, and redress for wrongful dismissal) should be extended to all employees;
  • What would be an appropriate level for the salary thresholds of more vulnerable employees receiving additional protection under Part IV of the EA (e.g. time-based provisions such as annual leave, hours of work, overtime pay and rest day); and
  • How the provisions and processes for dispute resolution can be more streamlined for employees and employers.

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An investment contract or unlicensed moneylending?


In its recent decision in Ochroid Trading Ltd and another v Chua Siok Lui (trading as VIE Import & Export) and another [2018] SGCA 5 ("Ochroid"), the Singapore Court of Appeal has provided valuable guidance in the area of contract illegality generally, and specifically, on the enforceability of illegal money lending transactions.

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The Madrid Protocol - How brand owners can protect their trademarks internationally


In today's interconnected world, many businesses span multiple jurisdictions. Trademark protection, however, is generally territorial. That is to say, it only applies in countries where registration is obtained. This can make it inconvenient for brand owners to protect their trademarks if they plan to do business in multiple jurisdictions, because it would require the brand owner to make a separate application in each jurisdiction. The Madrid Protocol was designed to make this process simpler and cheaper.

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Back to the future on stamp duty on share purchase agreements? And the contingency principle


Back to the future on stamp duty on share purchase agreements? And the contingency principle: how post-completion price adjustments and deferred consideration and earn-outs impact stamp duty on share sale and purchase transactions

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