Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 120

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 120
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 Accounting
and Corporate Regulatory Authority of Singapore as required by the Singapore Companies Act.

Regulations on Video Game Distribution and Classification

Pursuant to the Films Act 1981 of Singapore,
the Infocomm Media Development Authority (“IMDA”), being the regulator of the information, communications
and media sectors in Singapore, is responsible for classifying films, videos and video games distributed in Singapore. In
particular, it administers the video game classification system under the Films Act 1981, which requires businesses importing or
distributing physical copies of video games in Singapore to submit the video games to the IMDA for rating and classification.
However, the video game classification system does not apply to games which are only available via internet download. Since the
online games that we offer are available only through online platforms, we in general are not subject to the video game
classification system. However, the IMDA retains the right to issue a rating and/or classification of any of the online games we
offer, should it choose to do so.

Under the Films (Class Licence for Video Games
Distribution) Order 2019, distributors and retailers of video games in Singapore are automatically class licensed, and shall comply with
the conditions of the class licence under the said Order such as ensuring that only appropriate video games or any related promotional
films are distributed.

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Regulations on Consumer Protection

There are various general consumer protection laws
in place in Singapore, which apply generally to all relevant transactions including electronic transactions, but are not specifically
targeted at regulating e-commerce operations. One or more of these laws would be relevant in the context of live streaming operations
or e-commerce operations.

The Consumer Protection (Fair Trading) Act 2003
of Singapore is the primary statute governing consumer protection which sets out a legislative framework prohibiting suppliers from engaging
in unfair practices in relation to transactions and to allow consumers aggrieved by unfair practices to have recourse to civil remedies
before the Singapore courts. The definition of supplier under the Consumer Protection (Fair Trading) Act 2003 of Singapore includes persons
who promote the use or purchase of goods or services. Suppliers may be held liable for engaging in unfair practices in relation to consumer
transactions. Unfair practices include, among other things, (i) doing or saying anything, or omitting to do or say anything, that
would reasonably deceive or mislead consumers, (ii) making a false claim, (iii) taking unreasonable advantage of a consumer,
or (