25 Aug 2008 Posted in Press releases
The current minimum age of contractual capacity is tied to the age of majority, which is 21 years in Singapore. Over the years, the Pro-Enterprise Panel has received feedback that the legal barriers preventing young people from starting and conducting a business should be removed. The Government agrees that the current laws place unnecessary restriction on young people wishing to undertake business, and should be revised as part of the broader efforts to support an entrepreneurial society.
After a careful study, the Ministry of Finance (“MOF”) has proposed de-linking the age of majority from the age of contractual capacity and to reduce the age of contractual capacity from 21 years to 18 years.
To give effect to this proposal, MOF and the Ministry of Law (“MinLaw”) have completed drafting the amendments to the Civil Law Act as well as the consequential amendments to a number of other affected Acts that would be needed.
MOF and MinLaw invite interested parties to provide their feedback on this proposal and the amendments contained in the draft Civil Law (Amendment) Bill (“Bill”).
The consultation period ends on Friday, 19 September 2008. You may send your feedback in electronic or hard copy form to:
Legal Policy Division
Ministry of Law
100 High Street
#08-02, The Treasury
Fax: 6332 8842
- MOF and MinLaw reserve the right to make public all or parts of any written submission unless confidentiality is specifically requested for the whole or any part of the submission.
Consultation paper (0.02MB)
Draft Civil Law (Amendment) Bill 2008 (0.04MB)
Last updated on 26 Nov 2012