Category: Corporate & Commercial

Legislation Update: COVID-19 (Temporary Measures) Act 2020

The COVID-19 (Temporary Measures) Act 2020 was urgently passed in the Singapore Parliament yesterday (7 April 2020). If your business has been affected by COVID-19, consider if you may seek temporary relief under the new law or object to another party relying on such relief. If your organisation requires the conduct of meetings (e.g., Annual General Meetings), take note of alternative arrangements for the conduct of meetings which would be compliant with circuit breaker and other measures.

Note on Payment Services Act

Updated 20 January 2020 The Payment Services Act (“PSA”) will commences on 28 January 2020. MAS has issued the Guidelines on Licensing for Payment Service Providers, Guideline No: PS-G01 (18 December 2019) and specimen forms for PSA. Summary of Considerations for Payments Service Providers If you provide any service, incidental to your core business or […]

Case Update: Ang Ai Tee v Resource Credit [2017] SGHC 159 – Statutory Demand For Sum In Respect Of Loan Refinancing Transactions Set Aside

The article discusses the impact of the Moneylenders (Amendment) Rules 2015 and specifically whether there is a genuine triable issue that the refinancing loans contain excessive interests and the transactions are unconscionable or substantially unfair, such that the court can re-open the loan transactions under the Moneylenders Rules 2015.