Press Releases

The Ministry of Finance and Ministry of Law have jointly released a Consultation Paper containing a draft Civil Law (Amendment) Bill 2008 for public consultation.

2. 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.

3. After a careful study, the Ministry of Finance (''MOF'') has proposed delinking the age of majority from the age of contractual capacity and to reduce the age of contractual capacity from 21 years to 18 years.

4. 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.

5. MOF and MinLaw invite interested parties to provide their feedback on the Consultation Paper and the draft Civil Law (Amendment) Bill ("Bill"). They can be viewed online at REACH Website

6. The consultation period ends on Friday, 19 September 2008.

7. For more information please refer to the Ministry of Law's website.

JOINTLY ISSUED BY MINISTRY OF FINANCE AND MINISTRY OF LAW