SINGAPORE, Oct. 18,
2024 /PRNewswire/ -- The Singapore International
Commercial Court (International Committee) Bill was introduced for
First Reading in Singapore's
Parliament on 14 October 2024.
The Bill seeks to establish an International Committee of
the Singapore International Commercial Court (SICC) in Singapore to hear prescribed civil appeals and
related proceedings from prescribed foreign jurisdictions. The SICC
is a division of the General Division of the High Court and part of
the Supreme Court of Singapore.
The SICC is designed to adjudicate transnational commercial
disputes and has jurisdiction to hear and try actions which are
international and commercial in nature.
The International Committee will further enhance Singapore's offerings as an international
dispute resolution hub, providing parties with a transnational
commercial dispute resolution option to hear their cases and
appeals.
The Bill follows the signing of a bilateral Treaty between
the Government of Singapore and
the Government of the Kingdom of Bahrain on 20 March
2024 to collaborate on the establishment of the Bahrain
International Commercial Court.
Key Features of the Bill
The key features of the Bill are as follows:
- Structure: The International Committee will be established as a
standalone body to hear prescribed appeals and related proceedings
from prescribed foreign jurisdictions.
- Constitution: The members will comprise Judges of the Supreme
Court and International Judges in the Singapore International
Commercial Court (SICC), and ad hoc members drawn from the court of
the foreign jurisdiction that is referring an appeal to the
International Committee.
- Jurisdiction: The Minister for Law will be empowered to make
regulations in relation to appeals from a foreign court to the
International Committee, including prescribing the types of cases
that can be appealed to the International Committee from the
foreign jurisdiction.
- Representation: Singapore
advocates and solicitors, foreign lawyers and law experts who have
been registered to appear before the SICC, can appear before the
International Committee.
- Enforcement: A judgment or order of the International Committee
will be treated as a judgment or order of the court of that foreign
jurisdiction which the appeal arose from.
- Finality: A decision of the International Committee is
final.
Visit News and speeches (judiciary.gov.sg) for more details.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/enhancing-singapores-offerings-as-an-international-dispute-resolution-hub-with-the-singapore-international-commercial-court-international-committee-bill-302280063.html
SOURCE Supreme Court of Singapore