Singapore legislation
Clause 11
Clause 11
Amendment of section 130M
Section 130M of the principal Act is amended —
by deleting “130L” where it first appears in subsection (1) and substituting “130L(1)”;
by deleting the word “he” in subsection (1) and substituting the words “the Attorney-General”;
by deleting the words “a foreign lawyer, a Singapore law practice or a partner or director of a Singapore law practice” in subsection (2) and substituting the words “any foreign lawyer, Singapore law practice or partner or director referred to in subsection (1)”;
by deleting the words “a foreign lawyer, Singapore law practice or partner or director of a Singapore law practice” in subsection (3) and substituting the words “any foreign lawyer, Singapore law practice or partner or director referred to in subsection (1)”;
by deleting “130L” in subsection (3)(a) and substituting “130L(1)”; and
by inserting, immediately after subsection (4), the following subsections:“(4A) Where a Singapore law practice applies for an approval under section 130L(6) in respect of a foreign law practice, the Attorney-General may require the Singapore law practice making the application, the foreign law practice and any partner or director of the Singapore law practice or foreign law practice to provide such undertakings as the Attorney-General thinks fit to prevent any direct or indirect circumvention of section 130L or any condition under section 130L(7).(4B) Where any Singapore law practice, foreign law practice or partner or director referred to in subsection (4A) has contravened section 130L or any undertaking provided by the Singapore law practice, foreign law practice or partner or director concerned (as the case may be) under subsection (4A) —
the Singapore law practice, foreign law practice or partner or director concerned (as the case may be) shall without delay notify the Attorney-General in writing of the contravention;
the partner or director concerned shall, if he is a partner or director of the Singapore law practice concerned, immediately cease to exercise his voting rights as a shareholder or partner in the Singapore law practice concerned;
subject to any direction issued by the Attorney-General under subsection (4D)(b), the foreign law practice concerned shall as soon as practicable repay to the Singapore law practice concerned any payment it has received in excess of the amount permitted under any rules made under section 130W;
the Singapore law practice, foreign law practice or partner or director concerned (as the case may be) shall take all reasonable steps to remove the circumstances giving rise to the contravention; and
the Singapore law practice, foreign law practice or partner or director concerned (as the case may be) shall comply with any directions issued by the Attorney-General under subsections (4C) and (4D).(4C) Where any Singapore law practice, foreign law practice or partner or director referred to in subsection (4A) has contravened section 130L or any undertaking required under subsection (4A), the Attorney-General may —
cancel the approval under section 130L(6) in respect of the foreign law practice concerned; and
issue directions to the Singapore law practice, foreign law practice or partner or director concerned (as the case may be) to ensure compliance with section 130L.(4D) Without prejudice to the generality of subsection (4C)(b), the Attorney-General may direct the foreign law practice concerned —
to divest itself of any shares it may have in the Singapore law practice concerned within such time as the Attorney-General may specify; and
to repay to the Singapore law practice concerned any payment the foreign law practice has received in excess of the amount permitted under any rules made under section 130W within such time as the Attorney-General may specify.”.