4. Functions and powers of Institute

to maintain and improve the standards of legal education in Singapore and, in particular, to make recommendations to the appropriate authorities on the training and education required for the qualification of persons as qualified persons and lawyers (NP), and to review the implementation of initiatives, programmes and curricula relating to legal education in Singapore, including diploma, undergraduate and postgraduate programmes, and continuing professional development;

to register qualified persons seeking admission as lawyers (NP);

to provide for the training, education and examination, by the Institute or by any other body, of —

eligible persons intending to practise the profession of law in Singapore; (ia)qualified persons intending to be admitted as lawyers (NP); and

foreign lawyers intending to be registered under section 36B;

to exercise supervision over practice trainees during their practice training periods;

to exercise supervision over Singapore law practices, qualifying entities and relevant legal officers as regards the supervised training in relation to the practice of Singapore law that is to be provided to a practice trainee during the practice training period;

to certify whether any degree conferred by any institution of higher learning in or outside Singapore is a qualification prescribed by any rules made under section 2(2);

to grant prizes and scholarships, and to establish and subsidise lectureships in educational institutions, in subjects of study relating to law;

to determine the requirements relating to continuing professional development that must be satisfied by —

lawyers (NP);

advocates and solicitors; and

foreign lawyers registered under section 36B;

to coordinate and exercise supervision over continuing professional development for the legal profession in Singapore, including the provision of courses and materials relating to continuing professional development;

to facilitate the development of Singapore as an international centre for legal education.

purchase or lease any land or building required for any of the purposes of the Institute;

sell, surrender, lease, exchange or mortgage any land or building as may be found most convenient or advantageous;

receive grants from the Government or donations and gifts from the Academy, the Society or any other source;

borrow money, whether by way of bank overdraft or otherwise, for such of the purposes of the Institute as it may from time to time consider desirable;

invest the moneys and funds of the Institute in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act 1965;

engage in any financial activity or participate in any financial arrangement for the purpose of managing or hedging against any financial risk that arises or is likely to arise from such investment;

exercise such powers as may be conferred upon the Institute by this Act or any other written law; and

do all things that are necessary, incidental or conducive to carry into effect the functions of the Institute.