Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 79

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 79
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), subject to any withholding tax, in accordance with the FE Notices. The conversion of ringgit into
foreign currency may be freely effected onshore with licensed banks or money-changers with certain limited exceptions.

Regulations on Anti-money Laundering and Counter-Terrorist
Financing

The Anti-Money Laundering, Anti-Terrorism
Financing and Proceeds of Unlawful Activities Act 2001 (“AMLATFA”), makes it an offense for any person to engage
in or abet the commission of money laundering and terrorist financing, and seeks, among other things, to implement measures for the prevention
of money laundering and terrorism financing offences. Any person who (a) engages in a transaction that involves proceeds of unlawful
activity; (b) uses proceeds of unlawful activity; (c) removes from or brings into Malaysia proceeds of unlawful activity; or
(d) conceals, disguises, or impedes the establishment of the true nature, origin, location, movement, disposition, title of, rights
with respect to, or ownership of proceeds of unlawful activity commits a money laundering offense under the AMLATFA.

AMLATFA sets out the reporting
institution under the First Schedule of the AMLATFA to comply with the further obligations of prevention of money laundering and financing
terrorism, which include reporting and recordkeeping duties, such as submitting suspicious transaction reports, implementing a risk-based
application, and conducting customer due diligence. Epicsoft Malaysia. is not deemed to be a reporting institution under the AMLATFA.

Regulations in Hong Kong

We conduct business in Hong Kong
mainly through the following subsidiaries: (a) Epicsoft Hong Kong, which is primarily engaged in the marketing and retail distribution
of video games software, game codes and other related consumer items in Hong Kong; and (b) 2Game, which is primarily engaged in the
distribution of video games and related products including digital content such as console game codes. Each of our Hong Kong subsidiaries
has obtained a business registration certificate under the Business Registration Ordinance (Chapter 310 of the Laws of Hong Kong) since
incorporation and the commencement of its business operations.

Regulations Related to Business Registration

The Business Registration
Ordinance (Chapter 310 of the Laws of Hong Kong), administered by Business Registration Office, requires every person carrying on any
business to make an application to the Commissioner of Inland Revenue in the prescribed manner for the registration of that business within
one month after the commencement of business.