It is not customary to commence a keynote address with caveats and disclaimers._x000D_ However, this is the rare occasion when such qualifications are necessary because - if_x000D_ I may be permitted a crude pun - of the lack of qualifications of the speaker himself._x000D_ This is not false modesty. It is very real. I know that I have often been referred_x000D_ to in the Singapore context as a legal historian.1 Clearly, the dearth of personnel_x000D_ has been a reason for what I consider to be an oversight. I have no professional_x000D_ qualifications - or formal training - in history (except for a couple of courses in,_x000D_ respectively, English and American legal history during my postgraduate studies).2_x000D_ I have some interest - but only as a rank amateur. As a result, nothing I shall say_x000D_ will be of any significance to virtually all (if not all) of you. However, as I shall_x000D_ elaborate upon later, in the spirit of diversity which I believe the discipline of history_x000D_ in general and of legal history in particular represents, I trust that the somewhat_x000D_ different perspectives which are contained in this paper will be of some interest to_x000D_ you - if only because some thoughts might arise even from the mistakes I make.

This article looks at the development and characteristics of Islamic insurance (takaful) which is compatible with the principles of Islamic finance, thereby making it acceptable and attractive for millions of Muslims as an alternative to conventional insurance. In so doing, this article provides a detailed review on the evolution of takaful in the context of the Malaysian insurance sector which is among the largest players in the global takaful market. Taking cues from the success of takaful in Malaysia, this article explores certain key tenets of takaful and micro-takaful (low-cost takaful) that can be translated specifically into the indian context when the market eventually opens up and possibly into other developing and developed markets with substantial Muslim populations.

A pertinent worry plaguing the implementation of economic regulations is the circumvention_x000D_ manoeuvres conducted by private entities during the time-consuming legislative process typically associated with legal change. During the recent imposition of stamp duties designed to curb its exuberant property market, the Singapore government utilised two distinct mechanisms—subsidiary legislation and legislation by press release—to eliminate any window of tax avoidance arising from the time lapse between the initial public announcements and formal implementation. This Article utilises this episode of economic regulation to examine legal and normative considerations regarding these two mechanisms that can be employed by the executive branch to effect immediate legal change. The Article argues that while both mechanisms are legal and are practically indistinguishable under the current legal framework and political reality in Singapore, the increased possibility of a more competitive political landscape necessitates greater legal constraints on the subsidiary legislation mechanism and greater political awareness of the legislation by press release mechanism.

This paper identifies challenges to cross-border cooperation in Asia in the area of bank resolution and potential measures to enhance cooperation. In line with the consensus-based approach that is common in Asia, these measures include strengthening regulatory harmonisation and promoting convergence in supervisory practices through the use of non-binding guidelines. Drawing on the experience in the EU and the Trans-Tasman cooperation between Australia and New Zealand, the paper proposes that convergence-promoting functions be incorporated within existing institutions and considers the use of resolution colleges. In addition, acknowledging the preference in Asia for bilateral arrangements over multilateral arrangements, the paper suggests ways in which information sharing and recognition of foreign resolution action can be enhanced and draws on the experience of Singapore for this purpose.

Shortly after the government announced its intention to develop a comprehensive underground masterplan, the Singapore Parliament made amendments to the law in the area of the surface landowner's claim to the subsoil underground. This paper outlines and evaluates the changes made and posits that they represent a significant departure from the pre-existing law, particularly in the establishment of a clear cut-off point beneath which the surface landowner may make no ownership claim, and in the creation of a statutory easement in favour of the surface plot over all other land capable of providing subjacent support. These provisions are likely to gain importance as underground development and land use intensifies. However, this paper concludes that the changes bring with them some discomfort as to the content of the rights of real property in Singapore, even as they seek to provide clarity in an area of law where previously a dearth of authority existed, given that critical structural and interpretive gaps in the law remain. There is still some way to go before it can truly be said that a workable legal framework for underground land use has been created.

The following is an edited transcript of a filmed interview I did with Professor Lee_x000D_ Sheridan on 29 December 2014 at his home in Cardiff, Wales. I first met Sheridan_x000D_ back in 1985 when I was a law student at the Faculty of Law, National University_x000D_ of Singapore. At the time, I worked through the Law Club to launch a series of_x000D_ lunch-time lectures and talks and through the good offices of Professor Tommy Koh,_x000D_ was able to invite Sheridan to deliver one of these talks. Over the years, I have_x000D_ had many correspondences and interviews with Sheridan. As a result, parts of this_x000D_ particular interview sound like half-finished conversations from an earlier time. I_x000D_ decided to leave them be, rather than edit them out as it gives the reader a better_x000D_ 'feel' of the Sheridan charm and mystique. I do not cover the entirety of Sheridan's_x000D_ academic life or work as that has already been comprehensively documented in_x000D_ Andrew Phang, “Founding Father and Legal Scholar: The Life andWork of Professor_x000D_ LA Sheridan" [1999] Sing JLS 335. What follows is a recollection of the early_x000D_ days of Sheridan's life and of his journey to Singapore to establish its first law_x000D_ school.

This paper intends to contribute to the debate concerning the foundation and place of non-compensatory damages as a class of remedy applicable to contract law. It pursues this objective based on the theory that non-compensatory damages serve in modern contract law to incentivise and promote the creation of knowledge-based public goods through contracts. Connected with this argument is the view that the settled acceptance of non-compensatory damages in contracts can help in the deployment of contracts to supplement intellectual property ("IP") law regimes in the creation of knowledge-based public goods. The postulations of this article are, chiefly, as follows: a) contract law remedies must respond to contemporary transactional hazards thrown up by the intangible economy; and, b) contracts can be assets per se when they border on critical social interests.

Technological innovations have brought significant changes to the financial sector, such as the ways we make investments and choose insurance plans. But the use of technology has given rise to new risks, and poses challenges to our existing legal framework. In certain cases, regulatory intervention is needed to protect the interests of investors, to guard against new risks. In other cases, however, either no further action is needed because the current legal framework can accommodate the innovations, or regulation might not be desirable as it could impede the development of technology. We must ensure that innovation is not stifled by regulation without compromising the interests of consumers. To understand how such a balance should be struck, the Centre for Banking & Finance Law of the Faculty of Law, National University of Singapore organized a conference on 27 and 28 September 2019 on_x000D_ “Alternative Investments in the Tech Era". This issue, which arose from the conference,_x000D_ has lined up a series of articles that shed light on the changes and risks brought_x000D_ about by technology, and put forth suggestions regarding appropriate responses.