Regional Round-up
Issue 2 of 2021
Your Snapshot of Key Legal Developments in Asia
Issue 2 of 2021 (Apr / May / Jun)
MALAYSIA
BNM Issues Exposure Draft of Policy Document on e-Money
On 11 June 2011, Bank Negara Malaysia (“BNM”) issued an exposure draft on the new Guidelines for Electronic Money (“eMoney”) (“Exposure Draft”). Written feedback on the proposals in the Exposure Draft are to be made by/before 31 July 2021.
The Exposure Draft aims to ensure the safety and reliability of e-Money issued by persons approved under section 11 of the Financial Services Act 2013 or the Islamic Financial Services Act 2013 (“EMI”), and to enhance confidence in using or accepting e-Money for the payment of goods and services.
CAMBODIA
- Factory/Enterprise Owners or Directors to Update Employees’ Addresses with Effect from 25 June 2021
- MOC Issues Notification Requiring Relevant Persons to Apply for E-Commerce Permit or Licence
- Legal and Regulatory Requirements on Project Companies Concerning Environmental and Social Contribution
- Deadline to File Request to Extend Work Permit Postponed to 31 May 2021; Labour Arrangements During Khmer 2021 New Year
Holidays
CHINA
- China Passes Law on Hainan Free Trade Port
- China Enacts Anti-Foreign Sanctions Law
- China Passes Data Security Law
- Does an Arbitration Agreement Bind the Undisclosed Principal to a Contract?
LAOS
- Notification to Shut Down DATA CENTER System
- World Telecommunication and Information Society Day and Digital Economic Plan
- Instruction from MPI on the Promotion of Investment Incentives Concerning the State Land Rental and Concession Fee
- Presidential Decree on Administrative Case Proceedings Comes into Operation on 21 April 2021
MALAYSIA
Federal Court in Crystal Crown Hotel Case: Service Charges Cannot be Used to Pay Hotel Workers Salaries to Meet Employers’
Statutory Obligation to Pay Minimum WageDoes Delay in Issuing an Arbitral Award Result in Loss of Arbitrator’s Jurisdictional Mandate?
BNM Issues Exposure Draft of Policy Document on e-Money
MYANMAR
CBM Restrictions and Cash Shortage on the Ground
Possible Cash Withdrawal Ceiling for Microfinance Institutions
CBM Directive on Non-Banking Financial Institutions on Opening or Closing of Branch Office and Relocation of Head Office
Law Amending Union Tax Law 2020
Updates on New Trademark Registration
PHILIPPINES
Guidelines on Administration of COVID-19 Vaccine in Workplaces
Philippines Joins ASEAN CIS Framework
IPOPHL and USPTO Renew IP Cooperation and PartnershipCOVID-19 Declared as a Compensable Disease
Bureau of Immigration Updates International Travel Guidelines
SINGAPORE
Guide to Climate-Related Disclosures for Banks, Asset Managers & Insurers
Singapore IP Strategy 2030 – What Does it Mean for Your Business?
Singapore Ratifies ASEAN Trade in Services Agreement
SGX Proposes to Permit Listing of SPACs in Singapore
Singapore Ramps Up Combat against Trade Financing Fraud
THAILAND
Reduction of Social Security Fund Contributions Rate to Ease Impact of COVID-19 Outbreak
Draft Amendment to Public Limited Companies Act Approved by Cabinet
Further Postponement of Implementation Deadline for Personal Data Protection Act
Amendments to Civil Commercial Code to Change Statutory Interest Rate
VIETNAM
Code of Conduct on Social Networks Attached to Decision No. 874/QĐ-BTTTT
Guidance on Security Interests
Decree 31/2021/ND-CP Detailing and Guiding the Implementation of a Number of Articles of the Law on Investment 2020
Issue 2 of 2021 (Apr / May / Jun)
Cover Story
MALAYSIA
BNM Issues Exposure Draft of Policy Document on e-Money
On 11 June 2011, Bank Negara Malaysia (“BNM”) issued an exposure draft on the new Guidelines for Electronic Money (“eMoney”) (“Exposure Draft”). Written feedback on the proposals in the Exposure Draft are to be made by/before 31 July 2021.
The Exposure Draft aims to ensure the safety and reliability of e-Money issued by persons approved under section 11 of the Financial Services Act 2013 or the Islamic Financial Services Act 2013 (“EMI”), and to enhance confidence in using or accepting e-Money for the payment of goods and services.
rEGIONAL ROUND-UP
2024
- Q4 - 2024 (YEAR IN REVIEW EDITION)
- Q3 - 2024 (Jul/Aug/Sep)
- Q2 - 2024 (Apr/May/Jun)
- Q1 - 2024 (Jan/Feb/Mar)
2023
2022
2021
Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.