View Author December 2016
Introduction of the Civil Law (Amendment) Bill 2016
- In an effort to strengthen its position as a leading hub for international arbitration, Singapore’s Ministry of Law recently submitted the Civil Law (Amendment) Bill 2016 along with the Civil Law (Third Party Funding) Regulations 2016 for consideration in Parliament.
- The bill introduces provisions for a third party to fund the arbitration proceedings of a dispute it is not connected to, and the regulations set out a framework for such third party funders.
- The third party will be able to fund international commercial arbitrations seated in Singapore.