Enhancing Singapore's Offerings as An International Dispute Resolution Hub with the Singapore International Commercial Court (International Committee) Bill
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:
Visit News and speeches (judiciary.gov.sg) for more details.