Following a public consultation held in early 2020, certain amendments to the Malaysian Personal Data Protection Act 2010 will be tabled at the Malaysian Parliament for approval in October 2022. These proposals will introduce new obligations on both data users and data processors.
The Government has begun the process of “re-doing” the Law No. 11 of 2020 on Job Creation as was mandated by the Constitutional Court on 25 November 2021. It has issued an amendment to the law governing the legislative process to accommodate the omnibus law method used for this law. The Government must now involve the public in a meaningful way in discussing the substance of the law that will replace Law No. 11 of 2020, while still completing the whole process by the 25 November 2023 deadline. In the meantime, the amendment itself is still subject to constitutional challenges.
On 21 June 2021, the first batch of four real estate investment trust funds in the field of infrastructure were successfully listed at Shenzhen Stock Exchange. Over the past year, these products have operated smoothly, the supporting system has been continuously improved, investors have actively participated, and the market function has been gradually brought into play— realizing the phased targets of “a stable and good start”.
While Hong Kong and mainland China have had anti-discrimination laws in place that protect employees from various types of discrimination at the workplace, recent developments and increasing employee awareness of their rights have led to increased focus on this area. Whilst Singapore does not currently have any workplace discrimination laws per se, there have been some recent developments.
Join us for this webinar where our employment team from Baker McKenzie Hong Kong & China, and Baker McKenzie Wong & Leow will explore the discrimination laws and regulations in China, Hong Kong and Singapore, consequences for non-compliance, and what employers need to bear in mind regarding their human resources policies.
The Consumer Credit Oversight Board Task Force has issued the first of a two-part consultation paper to the Consumer Credit Act to obtain feedback from interested parties and members of the public on the proposed enactment of the CCA. The public consultation period will close on 5 September 2022.
Discussion about and around sustainable development is more critical now than ever as governments around the world have announced their commitment to achieve carbon neutrality and net zero greenhouse gas emissions during the 26th United Nations Climate Change’s Conferences of the Parties (COP 26) in Glasgow, and Thailand is no exception. Prime Minister Prayut Chan-o-cha announced Thailand’s commitment to become carbon neutral by 2050 and have net zero greenhouse gas emissions by 2065.
Following the developments to the Labuan tax regime through the introduction of economic substance requirements in 2019, the Labuan Companies (Amendment) Act 2022 recently came into effect on 10 June 2022 to amend the Labuan Companies Act 1990. These further developments to the Labuan corporate and regulatory regime clearly highlight Malaysia’s commitment towards adhering to international legal standards of corporate governance and transparency.
The Australian Securities and Investments Commission has, again, extended the transitional relief period for Foreign Financial Services Providers for a further 12 months to 31 March 2024, through the introduction of the ASIC Corporations (Amendment) Instrument 2022/623 on 28 July 2022. ASIC has stated the Amendment Instrument was introduced to provide certainty for the industry given the lapsing of the Treasury Laws Amendment (Streamlining and Improving Economic Outcomes for Australians) Bill 2022.
On 13 June 2022, the Amendment of the Telecommunications Business Act was enacted. The Amendment includes new regulations for the use of personally identifiable information and other information related to individuals, including cookies. Telecommunication service providers subject to the Amendment will be required to take measures based on the relevant ministerial orders to be enacted by the Ministry of Internal Affairs and Communications in the near future.
In June 2022, the Personal Information Protection Commission, which is the regulatory authority for the protection of personal information in Japan, published its 2021 annual report. While the report does not supplement the law in any way, it does provide businesses with useful insights on the PPC’s thinking and position with respect to various types of processing of personal information under Japanese law.