Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 212

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 212
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 and other serious crimes. Generally, the CDSA criminalizes the concealment or transfer of the benefits of criminal conduct as well as the knowing assistance of the concealment, transfer or retention of such benefits. The Terrorism (Suppression of Financing) Act 2002 (the “TSOFA”) is the primary legislation for the combating of terrorism financing. It was enacted to give effect to the International Convention for the Suppression of the Financing of Terrorism. Besides criminalizing the laundering of proceeds derived from drug dealing and other serious crimes and terrorism financing, the CDSA and the TSOFA also require suspicious transaction reports to be lodged with the Suspicious Transaction Reporting Office. If any person fails to lodge the requisite reports under the CDSA and the TSOFA, he may be subject to criminal liability. Regulations on Employment Employees The Employment Act 1968 of Singapore (“EA”) prescribes certain minimum conditions of service that employers are required to provide to employees covered under the EA (“employees”), including (i) minimum days of statutory annual and sick leave, (ii) paid public holidays, (iii) statutory protection against wrongful dismissal, (iv) provision of key employment terms in writing and (v) statutory maternity leave and childcare leave benefits. In particular, Part IV of the EA sets out the requirements for rest days, hours of work and other conditions of service for workmen who receive salaries not exceeding S$4,500 (US$3,203) a month and other employees (other than workmen or a person employed in a managerial or an executive position) who receive salaries not exceeding S$2,600 a month (approximately US$1,860). Section 38(8) of the EA provides that employees are not allowed to work for more than 12 hours in any one day except in specified circumstances, such as where the work is essential to the life of the community, defense of security. In addition, Section 38(5) of the EA limits the extent of overtime work that an employee can perform to 72 hours a month. Employers must seek the prior approval of the Commissioner for Labour (“Commissioner”) for exemption if they require an employee or a class of employees to work for more than 12 hours a day or work overtime for more than 72 hours a month. The Commissioner may, after considering the operational needs of the employer and the health and 129 safety of the relevant employee or class of employees, by order in writing exempt such relevant employees from the overtime limits subject to such conditions as the Commissioner