OBS_VALUE: Every Singapore law practice that distributes its profits to any person who is not a solicitor practising in the Singapore law practice must satisfy all of the following requirements: (a) the total amount of payments made by the Singapore law practice, during any financial year of the Singapore law practice, to all of the following does not exceed one‑third of the total profits of the Singapore law practice during that financial year, based on the audited financial statement of the Singapore law practice for that financial year: (i) foreign lawyers (if any) who have approval under section 176(1) of the Act to share in the profits of the Singapore law practice; (ii) foreign law practices (if any) which have approval under section 176(9) of the Act to share in the profits of the Singapore law practice.  Also, any person who holds shares in a law corporation shall not — (a) hold shares in any other law corporation; (b) be a director, a consultant or an employee of any other law corporation; (c) be a partner, a consultant or an employee of any law firm or limited liability law partnership; or (d) practise as a solicitor on his own account.