Legal Profession (Law Practice Entities) Rules 2015 · As enacted · Part 4 · Law Corporations
36. Holding of shares in law corporation with related Singapore law practice
Feedback & supportFor the purposes of section 159(2) of the Act, all the shares in a law corporation may be held by another law corporation, or by a limited liability law partnership, that is related to the law corporation.
The exception to section 159(4)(a) of the Act is that a person who holds shares in a law corporation may hold shares in another law corporation that is related to the law corporation.
Section 159(4)(b) of the Act does not apply to a director, a consultant or an employee of a law corporation who holds shares in another law corporation that is related to the law corporation.
Section 159(4)(c) of the Act does not apply to a partner, a consultant or an employee of a law firm or limited liability law partnership who holds shares in a law corporation that is related to the law firm or limited liability law partnership (as the case may be).
Section 159(4)(d) of the Act does not apply to a sole proprietor of a law firm who holds shares in a law corporation that is related to the law firm.
Subregulation 1
For the purposes of section 159(2) of the Act, all the shares in a law corporation may be held by another law corporation, or by a limited liability law partnership, that is related to the law corporation.
Subregulation 2
The exception to section 159(4)(a) of the Act is that a person who holds shares in a law corporation may hold shares in another law corporation that is related to the law corporation.
Subregulation 3
Section 159(4)(b) of the Act does not apply to a director, a consultant or an employee of a law corporation who holds shares in another law corporation that is related to the law corporation.
Subregulation 4
Section 159(4)(c) of the Act does not apply to a partner, a consultant or an employee of a law firm or limited liability law partnership who holds shares in a law corporation that is related to the law firm or limited liability law partnership (as the case may be).
Subregulation 5
Section 159(4)(d) of the Act does not apply to a sole proprietor of a law firm who holds shares in a law corporation that is related to the law firm.