Singapore legislation
Regulation 24
Regulation 24
Purchases from client
Subregulation 1
Subject to the law on fiduciary relationships, a legal practitioner or law practice may purchase goods and assets from a client of the legal practitioner or law practice only if the purchase is at the prevailing market price or at such price as is reasonable.
Subregulation 2
Where practicable, the legal practitioner or law practice must obtain an independent valuation of the goods and assets.