The enactment of GMC Law No. 1 of 2024 (Application of Laws Act 2024) marks a pivotal shift for Gelephu Mindfulness City, integrating 18 Singaporean common laws and 10 financial services laws from the Abu Dhabi Global Market. Among the 28 new pieces of legislation, three contract laws are selected to attract global investment and establishing a robust governance framework for this Special Administrative Region.
The first significant legislation is the “Contracts (Rights of Third Parties) Act”, which enables third...
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