Regulation 17

is an employee of a Singapore law practice, Joint Law Venture, Qualifying Foreign Law Practice or licensed foreign law practice;

proposes to be a director, partner or shareholder in, or to share in the profits of, that Singapore law practice, Joint Law Venture, Qualifying Foreign Law Practice or licensed foreign law practice (as the case may be); and

satisfies all of the requirements mentioned in paragraph (2).

in the period of 10 years before the date of the individual’s application for registration under section 36G of the Act, the individual has not carried on, by the individual or by any person employed by the individual, any trade, business or calling that detracts from the profession of law or is in any way incompatible with the profession of law, and is not employed in any such trade, business or calling;

in the period of 10 years before the date of the individual’s application for registration under section 36G of the Act, the individual has not been refused registration as a member of, and has not been removed from the register of, any profession by any professional or regulatory body in Singapore or elsewhere;

in the period of 10 years before the date of the individual’s application for registration under section 36G of the Act, the individual has not been the subject of any proceedings of a disciplinary or criminal nature, and has not been notified of any such proceedings or of any investigation which may lead to any such proceedings, under any law in any jurisdiction;

in the period of 10 years before the date of the individual’s application for registration under section 36G of the Act, the individual has not been found guilty of any professional misconduct by any professional or regulatory body in Singapore or elsewhere, and is not the subject of any pending disciplinary proceedings in Singapore or elsewhere in respect of any such professional misconduct;

the individual is able to fulfil all of the individual’s financial obligations, whether in Singapore or elsewhere;

the individual —

has not, whether in Singapore or elsewhere, entered into a compromise or scheme of arrangement (being a compromise or scheme of arrangement that is still in operation) with the individual’s creditors; and

has not, whether in Singapore or elsewhere, made an assignment for the benefit of the individual’s creditors;

the individual is not subject to any judgment debt which remains unsatisfied, whether in whole or in part, and whether in Singapore or elsewhere;

the individual has not been subject in Singapore to a disqualification or disqualification order under section 149, 149A or 154 of the Companies Act (Cap. 50) or under section 34, 35 or 36 of the Limited Liability Partnerships Act (Cap. 163A);

without prejudice to sub-paragraph (h), the individual has not been disqualified, in Singapore or elsewhere —

from being a director of, from being in any way (whether directly or indirectly) concerned in, or from in any way (whether directly or indirectly) taking part in the management of, a company or foreign company (as defined in the Companies Act); or

from being a manager of a limited liability partnership;

there are no pending bankruptcy proceedings against the individual, whether in Singapore or elsewhere;

the individual is not an undischarged bankrupt, whether in Singapore or elsewhere;

the individual is not guilty of any of the acts or omissions mentioned in section 124(5)(a), (b), (c), (d), (e), (f), (h), (i), (k), (l) or (m) of the Bankruptcy Act (Cap. 20);

the individual does not come within the class of persons enumerated in section 78(1)(a) to (f) of the Act.

in any case where the individual proposes to be a director, partner or shareholder in, or to share in the profits of, a Singapore law practice, the Singapore law practice satisfies all general threshold requirements; or

in any case where the individual proposes to be a director, partner or shareholder in, or to share in the profits of, a Joint Law Venture, Qualifying Foreign Law Practice or licensed foreign law practice (each called in this sub-paragraph the practice), the regulated non-practitioners in the practice —

are entitled to exercise or control the exercise of not more than 25% of the total voting rights exercisable in respect of the management of the practice;

are entitled to exercise or control the exercise of not more than 25% of the total voting rights exercisable by the partners or shareholders (as the case may be) in the practice; and

hold not more than 25% of the total value of equity interests in the practice.