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  • Proposed Amendment to the COVID-19 (Temporary Measures) Act
Newsletter:

Proposed Amendment to the COVID-19 (Temporary Measures) Act

06 November 2020

Leow Quek Shiong , Partner, Restructuring & Forensic |
Gary Loh , Executive Director, Restructuring & Forensic |

The COVID-19 (Temporary Measures) Act was passed in April 2020 to provide relief for business, including deferment of contractual obligations without penalty for up to six months as well as waiver of rental for eligible small and medium enterprise tenants/sub-tenants.

At the Parliament debate on the third set of amendments to the COVID-19 (Temporary Measures) Act on 3 November 2020, the Parliament proposed the introduction of the Re-Align Framework, which will allow small and micro businesses to renegotiate contracts and/or terminate the contract early, without penalties.

Download the news alert to learn more.