Legal Updates for November 2021

CGCC Prakas: Issuance, Transfer and Renewal of Licences for Casinos and Luck-Based Games Operations

On 21 October 2021, the Commercial Gambling Management Commission of Cambodia ("CGCC") issued Prakas No. 002 on Procedures, Formalities and Conditions for the Issuance, Transfer and Renewal of Licenses for Casinos and Luck-Based Games ("Prakas").

The Prakas aims to ensure the effectiveness, transparency, accountability and good order of casino and luck-based game operations. It covers the operations of integrated resorts, casinos, and luck-based games in Cambodia.

This Update highlights the key licensing requirements under the Prakas.

New Regulations for Commercial Gaming: (1) Establishment of Cambodia’s Gaming Regulator and (2) Minimum Capital Requirement for Casino Operation

Following the promulgation of the Law on the Management of Commercial Gaming in November 2020, the Royal Government of Cambodia issued on 26 August 2021 the following sub-decrees:

1. Sub-Decree No. 165 on Organization and Functioning of Commercial Gambling Management Commission of Cambodia ("Sub-Decree No. 165"); and

2. Sub-Decree No. 166 on the Minimum Capital Requirement for Casino Operation ("Sub-Decree No. 166").

Sub-Decree No. 165 sets out the roles and duties of the Commercial Gambling Management Commission of Cambodia, the governmental body tasked with regulating commercial gaming in the country, while Sub-Decree No. 166 sets out the minimum capital requirements for new and existing casino operators in Cambodia. This Update provides the key features of the sub-decrees.

Regional Guide on Fraud and Asset Tracing Litigation

The nature of fraud and asset tracing has becoming increasingly complex in light of globalisation and the almost seamless interconnectivity of the world's financial systems. The proceeds of fraud can now be dissipated in an instant across various jurisdictions, potentially frustrating any attempts at recovery whether via civil proceedings or by relying on the relevant government enforcement agencies. To increase the chances of recovery, it is important that fraudster(s) are quickly identified, with steps taken to trace any stolen assets in order to ascertain their location, after which the relevant applications should be filed to have them frozen to prevent further dissipation.

This publication serves as a guide to highlight:

(a) the similarities and differences in general framework between ASEAN jurisdictions in respect of fraud and asset tracing litigation;

(b) the options available to a fraud victim to identify the fraudster(s) and/or trace stolen assets;

(c) upon identification of the fraudster(s) and/or ascertaining the location of stolen assets, the mechanisms available to freeze such assets to prevent further dissipation; and

(d) the considerations to be taken into account when deciding on the appropriate jurisdiction to pursue recovery of any stolen assets, and the various courses of action that may be taken against the fraudster(s).

Standard Information Disclosure for Consumers

On 31 August 2021, the Ministry of Commerce issued Prakas No. 185 on Standard Information for Consumers ("Prakas No. 185") that sets out the minimum information required to be provided to consumers in commercial transactions.

This Update provides the key features of Prakas No. 185.