We understand that these are challenging times as the COVID-19 pandemic has impacted our businesses and our personal lives in unprecedented ways. The Singapore Government has recently released a string of measure to aid businesses in Singapore - one of which is the enactment of the COVID-19 (Temporary Measures) Act (the “Act”) which came into force on 7 April 2020. We hope that you would find our update on the Act useful.
The Act gives temporary relief to businesses and individuals who are unable to fulfil their contractual obligations because of COVID 19 for the prescribed period. At present, the prescribed period is for 6 months, but this may be extended or shortened by the Minister for Law.
