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Penalty Clauses: Lessons from Australia and England and Possible Legislative Reforms

The law on penalty clauses has, until recently, remained largely unchanged, with only minor developments over the years. However, there have been significant developments in both Australia and England and Wales in recent times. Singapore’s position on the penalty rule has remained unchanged despite these developments. While some High Court authorities in Singapore have suggested that they are inclined towards adopting the developments seen in England and Wales, such a step should only be taken after careful consideration of the implications of these developments which are explored in this article. This article takes the opportunity to examine and evaluate the law on penalty clauses in various jurisdictions and discusses the key issues surrounding the law on penalty clauses, and the possible legislative reforms for Singapore.