Contract rights for minors
YOUNG persons may be able to start and run a business from the age of 18, under proposed changes to the law.
Currently, they can only enter into business contracts at the age of 21.
But the Finance and Law ministries are seeking views from the public on proposed changes to the Civil Law, which governs certain contracts.
In a joint statement yesterday, both ministries noted that the minimum age at which a person can now enter into a contract is tied to the age of majority - the age at which he is legally considered an adult - which is 21.
The proposal to change this comes after the Pro-Enterprise Panel received feedback that legal barriers preventing the young from going into business should be removed.
'The Government agrees that the current laws place unnecessary restrictions on young people wishing to undertake business, and should be revised as part of the broader efforts to support an entrepreneurial society,' the statement said.
'After a careful study, the Ministry of Finance 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.'
The changes mean a person can also start and participate in certain legal proceedings on his own once he turns 18. Now he can only do so with a guardian. But he will still not be able to hold, buy or sell land on his own.
The ministries want those interested to give their views on the consultation paper and draft law. It can also be read at the website of Reach, the feedback unit, at www.reach.gov.sg.
The consultation ends on Sept 19.
ZAKIR HUSSAIN
YOUNG persons may be able to start and run a business from the age of 18, under proposed changes to the law.
Currently, they can only enter into business contracts at the age of 21.
But the Finance and Law ministries are seeking views from the public on proposed changes to the Civil Law, which governs certain contracts.
In a joint statement yesterday, both ministries noted that the minimum age at which a person can now enter into a contract is tied to the age of majority - the age at which he is legally considered an adult - which is 21.
The proposal to change this comes after the Pro-Enterprise Panel received feedback that legal barriers preventing the young from going into business should be removed.
'The Government agrees that the current laws place unnecessary restrictions on young people wishing to undertake business, and should be revised as part of the broader efforts to support an entrepreneurial society,' the statement said.
'After a careful study, the Ministry of Finance 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.'
The changes mean a person can also start and participate in certain legal proceedings on his own once he turns 18. Now he can only do so with a guardian. But he will still not be able to hold, buy or sell land on his own.
The ministries want those interested to give their views on the consultation paper and draft law. It can also be read at the website of Reach, the feedback unit, at www.reach.gov.sg.
The consultation ends on Sept 19.
ZAKIR HUSSAIN
