IPOS rates increased
The Intellectual Property Office of Singapore (IPOS) is raising its filing charges from between 5 to 10 percent. This amounts to increases between $1 to $250. The fee increases take effect on 1 Dec 2011. IPOS attributes the raise to increased operating costs and pointed out that the last increase was in 2007.
Singapore remains easiest place to do business
According to a World Bank report, Singapore is the easiest place in the world to do business – extending a record it has won six times in a row. The ranking is based on 10 indicators and Singapore was placed ahead of Hong Kong and New Zealand overall.
Schools lose suspension claim
Two schools in Singapore lost their appeal against the Consumers Association of Singapore (CASE) and NTUC Income, who suspended them from an accreditation scheme. The Court of Appeal ruled that CASE had acted responsibly in suspending the schools after CASE discovered that the schools had not insured hundreds of students with NTUC Income. NTUC Income then suspended its insurance service and barred the schools from registering new students. CASE then withdrew the schools' CASE-Trust for Education Scheme accreditation. The court did rule that NTUC Income was in breach when it suspended its insurance service without notice but awarded the schools nominal damages.
Stolen monies not tax deductible
A listed company whose managing director committed criminal breach of trust over $12 million of its monies for gambling lost its application for tax relief for such monies. The High Court, affirmed the decision of the Income Tax Board of Review that the loss was not deductible because it happened wholly and exclusively outside the company's ordinary income earning activities.
Arbitration laws to be updated
A law reform committee is looking into updating laws affecting arbitration in Singapore, aimed at enhancing arbitration in Singapore. For instance, the appointment of emergency arbitrations to make urgent interim decisions, the acceptance of oral agreements to arbitrate and to go to court where an arbitral tribunal has declined to accept jurisdiction.
In addition, a foreign limitation periods act is being mooted to clarify the limitation period litigated in Singapore but governed by the law of a foreign jurisdiction.
Do-not-call (DNC) registry
The government has asked for public feedback on a proposed DNC registry which aims to provide individuals a simple and effective way of opting out of unsolicited marketing calls and messages by registering their phone numbers with the registry.
Organisations will be required by law to check the registry to ensure that they do not make marketing calls or send messages to the numbers registered. The proposed registry seeks to protect consumers from unsolicited marketing messages while enabling telemarketers to benefit by effectively targeting genuine groups of consumers and preserving telemarketing as a credible marketing medium.
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