Statement by Deputy Prime Minister and Minister for Law Professor S Jayakumar in Parliament on 7 Mar
8 Mar 2006 Posted in Press releases
Deputy Prime Minister and Minister for Law Professor S. Jayakumar today answered Member of Parliament Ms Indranee Rajah’s (Tanjong Pagar GRC) question on the measures needed to ensure that the required legal services are available to support the strategic services of Singapore’s economy.
In his answer, DPM Prof S. Jayakumar noted that demand for more specialised legal services has been growing in recent years. In 1999, schemes were launched to allow local law firms to enter into Joint Law Ventures (JLV) or Formal Law Alliances (FLA) with foreign law firms. This provided a convenient and efficient mode for delivery of legal services in cross-border financial transactions.
A Review Committee, headed by the Attorney-General, recently completed a review of the schemes. The Committee found that the range of legal services in foreign laws and Singapore law available in Singapore is satisfactory and meets the current legal needs of the strategic service sectors of the economy. The schemes were found to be structurally sound and appropriate to their objectives.
The Committee also made recommendations to bring the legal services sector forward.
A transcript of DPM Prof S. Jayakumar’s oral answer to MP Ms Indranee Rajah’s question can be found at Annex A, and a Summary of the Review Committee’s Findings and Recommendations at Annex B.
Issued by Ministry of Law - 7 March 2006
Last updated on 23 Nov 2012