Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 124

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 124
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 person who fails to apply for business registration shall be guilty of an offence and shall be liable for a fine of HK$5,000
and imprisonment for one year. As of the date of this Report, each of the Hong Kong subsidiaries have obtained and maintains a valid
business registration certificate.

Regulations Relating to Trade Description of Products

The Trade Descriptions Ordinance
(Chapter 362 of the Laws of Hong Kong) prohibits false descriptions, false, misleading or incomplete information in respect of goods
provided in the course of trade and to prohibit certain unfair trade practices. Under the Trade Descriptions Ordinance, it is an offence
for a person, in the course of trade or business, to apply a false or misleading trade description to any goods or supply any goods with
false or misleading trade descriptions, to forge any trademark or falsely apply any trademark to any goods, or to engage in relation
to a consumer in a commercial practice that is a misleading omission, aggressive, bait advertising, a bait and switch, or constitutes
wrongly accepting payment for a product.

A person who commits any
such offense is subject to, on conviction on indictment, a fine of up to HK$500,000 and imprisonment for five years and, on summary
conviction, a fine of HK$100,000 and imprisonment for two years.

Regulations on Labor and Employment

The Employment Ordinance
(Chapter 57 of the Laws of Hong Kong) (the “EO”) is an ordinance enacted for, among other things, the protection
of the wages of employees and the regulation of the general conditions of employment and employment agencies. Under the EO, an employee
is generally entitled to, among other things, notice of termination of his or her employment contract, payment in lieu of notice, maternity
protection in the case of a pregnant employee, sickness allowance, statutory holidays or alternative holidays and paid annual leave.

Under the Mandatory Provident
Fund Schemes Ordinance (Chapter 485 of the Laws of Hong Kong) (the “MPFSO”), employers must participate
in a Mandatory Provident Fund (the “MPF”) Scheme for employees employed under the jurisdiction of the EO. Under
the MPF Scheme, generally, the employer and its employees are each required to make contributions to the plan at 5% of the employees’
relevant income, subject to a cap of monthly relevant income of HK$30,000.

Employers are also required
to maintain a policy of insurance issued by an insurer for an amount