Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 136

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 136
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. Therefore, the Hong Kong subsidiaries’ business is subject to Competition Ordinance
generally.

In the event of contravention of a competition
rule, the Competition Tribunal may (i) on application by the Competition Commission, impose pecuniary penalty of any amount it considers
appropriate subject to a maximum of 10% of the turnover of the undertaking concerned for each year in which the contravention occurred
for each single contravention (if the contravention occurred in more than three years, 10% of the turnover of the undertaking for
the three years that saw the highest, second highest and third highest turnover); (ii) on application by the Competition Commission,
make an order disqualifying a person from being a director of a company or from otherwise being concerned in the affairs of a company;
and (iii) make orders it considers appropriate, including but not limited to prohibiting an entity from making or giving effect
to an agreement, requiring modification or termination of an agreement, requiring payment of damages to a person who has suffered loss
or damage as a result of the contravention.

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Regulations Related to Data Privacy

The Personal Data (Privacy) Ordinance (Chapter 486
of the Laws of Hong Kong) (“PDPO”), imposes a statutory duty on data users to comply with the requirements of
the six data protection principles contained in Schedule 1 to the PDPO. The PDPO provides that a data user shall not do an act, or
engage in a practice, that contravenes the six data protection principles unless the act or practice, as the case may be, is required
or permitted under the PDPO. The six data protection principles are:

(a) Principle 1 — purpose and manner of collection
of personal data;

(b) Principle 2 — accuracy and duration of retention
of personal data;

(c) Principle 3 — use of personal data;

(d) Principle 4 — security of personal data;

(e) Principle 5 — information to be generally available;
and

(f) Principle 6 — access to personal data.

Non-compliance with a data protection principle
may lead to a complaint to the Privacy Commissioner for Personal Data (the “Privacy Commissioner”). The Privacy
Commissioner may serve an enforcement notice to direct the data user to remedy the contravention and/ or instigate prosecution actions.
A data user who contravenes an enforcement notice commits an offense which may lead to a fine and imprisonment.

The PD