Legal Highlights (10 April 2017 – 14 April 2017)
New guidelines: Short-selling of corporate bonds New guidelines have been introduced by the Malaysian Securities Commission (SC) which will allow regulated short selling of corporate bonds in the Malaysian capital market. Under the guidelines, principal dealers, primarily banks, will be permitted to conduct regulated short selling of corporate bonds, expanding the range of bonds that can be short sold. The guidelines will come into effect on 2 May 2017.
Law on proper housing for foreign workers The Malaysian Government is contemplating to table a Bill under the Human Resources Ministry to ensure that proper housing are built by the contractors for their foreign workers. It is hoped that the introduction of such laws would help improve their productivity as well remove the unsightly “rumah kongsi” found at construction sites.
Singapore: Award for loss of genetic affinity The Singapore Court of Appeal has created a new compensation award under loss of genetic affinity following a case of an In-vitro fertilisation (IVF) mix-up, whereby the wrong sperm was used to conceive a baby, instead of the woman’s husband. Loss of genetic affinity here refers to the cost and hurt caused to a parent of being deprived of having a baby with their spouse via reproductive technology through a third party’s negligence.
UK: Judge sacked for online comments A UK judge, Mr. Dunn-Shaw, who had used a pseudonym to post abusive comments on a newspaper website on cases he was involved in, particularly as a judge at Canterbury Crown Court and another in which he was a barrister, has been sacked. Mr. Dunn-Shaw said he would be appealing to the Ombudsman on the flawed and unfair procedure.
UK: Parents prosecuted for term time holidays The British Supreme Court in a landmark case, has held that parents who take their children out of school for term time holidays, without the permission of the head teacher, may be prosecuted. This was following a case where a judge ruled that a businessman, who took his daughter for a seven-day holiday, had to pay a £120 fine for the daughter’s unauthorised absence.