Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 125

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 125
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 a direction by IMDA constitutes a criminal        
 offence, punishable with a fine.                                                                                                               |

Regulations on Intellectual Property Rights

The Intellectual Property Office of Singapore administers
the intellectual property legislative framework in Singapore, which includes copyrights, trademarks and patents. Singapore is a member
of the main international conventions regulating intellectual property matters, and the World Trade Organization’s Agreement on
Trade Related Aspects of Intellectual Property Rights.

Singapore operates a first-to-file system in respect
of registered trademarks under the Trade Marks Act 1988 of Singapore, and the registered proprietor is granted a statutory monopoly of
the trademark in Singapore in relation to the product or service for which it is registered. In the event of any trademark infringement,
the registered proprietor will be able to rely on the registered trademark as proof of his right to the mark, and the infringement of
a trademark may give rise to civil and criminal liabilities. Statutory protection of a registered trademark can last indefinitely, as
long as the registration is renewed every 10 years. Unregistered trademarks are also protected under the common law of passing off,
provided that the owner is able to prove that there is goodwill or reputation in the mark; misrepresentation on the part of the infringer;
and damage to the mark as a result.

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Regulations on Competition Laws

The Competition Act 2004 of Singapore
prohibits anti-competitive practices. Specific prohibited activities include agreements that prevent, restrict or distort
competition, abuse of dominance and mergers that substantially lessen competition, whether these take place within or outside of
Singapore, so long as they have an impact on a market in Singapore. The Competition and Consumer Commission of Singapore (the
“CCCS”) is responsible for administering and enforcing the Competition Act 2004 of Singapore, which covers
all industries and sectors unless specifically exempted or excluded. Infringements of the Competition Act can result in financial
penalties of up to 10 per cent. of the turnover of the business in Singapore for each year of infringement, up to a maximum of
three years. The CCCS also has powers to impose directions requiring infringing undertakings to stop or modify the activity or
conduct, or in the case of anti-competitive mergers, to remedy, mitigate or eliminate the adverse effects arising from the
merger.

Regulations on Labor and Employment

The Employment Act 1968 of Singapore (the “Singapore Employment Act”) generally extends to all employees regardless of their designation, salary level