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The COVID-19 (Temporary Measures) Bill was passed in the Singapore Parliament on 7 April 2020.
We have highlighted the important Provisions & done a quick summary for All who are interested here:
Clause 2 (Pages 7-8) gives the various definitions of how Temporary Relief could be granted for the inability to perform obligations arising from scheduled contracts (under Clause 5, pages 9-15) for 6 months (which may be lengthen or shorten by the Minister of Law) to a maximum of 1 year.
Clause 3 (Page 9) provides Safe Harbour Provisions to allow entities to carry out Trading while insolvent for 6 months (which may be lengthen or shorten by the Minister of Law) to a maximum of 1 year.
Clause 8 (Pages 17-18) sets out the various consequences when a person takes action in contravention to Clauses 5, 6 & 7 (see pages 9- 17).
The Minister has the power to prohibit/ restrict the movement of people, closure of Premises, restrictions as to the time, manner or extent of conducting any business, undertaking or work. See Clauses 18-19 (Pages 22-23).
Part 2 (Pages 9-23) applies to the Temporary Relief available for not being able to carry out the contractual obligation due to the spread of CVOVID-19.
Part 3 (Pages 23 - 31) outlines the Temporary Relief for Financially Distressed Individuals, Firms & other Businesses. Temporary Relief does not apply to contracts entered or renewed on/before 25 March 2020.
Part 4 (Pages 32 –35) provides for Temporary Measures for Conduct of Meetings. Temporary alternative arrangements for the conduct of meetings must comply with the Infectious Diseases Act (Cap. 137).
Part 5 (Pages 36-42): Temporary measures have been allowed for Court Proceedings in the Syariah Court using remote communication technology.
Part 6 (Pages 43-47): It is the legal obligation of a Property owner to transfer the remission of Property tax to his tenants. The tenant may sue if the Property owner refuses to do so.
Clauses 5(1) to 5(14) (see Pages 55-58) provide when one is unable to fulfil his contractual obligations on or after 1 February 2020 due to COVID-19. The “Party in default” has to serve a notification on the other Party who may commence court or arbitration proceedings, enforcement on the security of property, apply for a Judicial Management Order or winding up or bankruptcy etc… Clause 5(4) allows the Minister to disapply any of those actions… & apply what the Law allow him or her to act (Clauses 10-17, see Pages 19-22).
See Examples in Pages 58 – 61.
Don’t you think some provisions look really serious? Don’t worry, just contact us for Free Consultation if your need help. There are so many such similar cases in Singapore, you decide if the Minister & his/her Team is able to handle all quickly!
Compiled on 8 April 2020 by: Emmanuel & Maria International Consultants LLP Tel: +65 9338 4746
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