Company: OTSA
Filing Date: 2025-03-26
Form Type: DRS/A
Source: 0001013762-25-002776
Chunk: 192

Company: OTSAW Ltd
Filing Date: 2025-03-26
Form: DRS/A
Chunk 192
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 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 121 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 thinks fit. Where such exemptions have been granted, the employer shall display the order or a copy thereof conspicuously in the place where such employees are employed. Aside from minimum benefits in respect of the aforesaid terms of employment in the EA, other employment -relatedbenefits which are prescribed by law include (i) contributions to be made by an employer to the Central Provident Fund, under the Central Provident Fund