The Singapore Parliament has passed the COVID-19 (Temporary Measures) Act (2020) (Act) in an attempt to alleviate the consequences that the global pandemic has caused to businesses in Singapore.
In summary, the Act brings into force temporary measures, which:
- essentially suspend contractual obligations under a range of scheduled contracts
- provide relief to financially distressed individuals, businesses and firms
- set out alternative arrangements for the conduct of company meetings
- introduce measures to keep courts functioning through remote communications technology
- restrict certain activities by the general public to prevent the spread of COVID-19
The Act is made up of seven parts:
- Part 1 covers preliminary issues including the key definitions used in the Act
- Part 2 sets out the nature of the temporary relief available for the inability to perform certain contractual obligations
- Part 3 sets out provisions relating to temporary relief for financially distressed individuals, firms and businesses
- Part 4 sets out provisions relating to temporary measures for the conduct of meetings
- Part 5 sets out temporary measures for court proceeding
- Part 6 sets out temporary measures for the remission of property tax
- Part 7 sets out temporary control orders to restrict the spread of COVID-19
This article is available in Japanese here.
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