Leases/Licences under the Re-Align Framework

18 Jan 2021 LegisWatch

In November 2020, the Ministry of Law announced the introduction of the Re-Align Framework (“Framework”) under the new Part 10 of the COVID-19 (Temporary Measures) Act 2020 (“Act”) to assist businesses impacted by the COVID-19 pandemic.

The Framework enables businesses to renegotiate certain contracts to realign themselves with the current economic climate, and will come into effect for six weeks commencing from 15 January 2021 until and including 26 February 2021.

The Framework is applicable to, inter alia, leases or licences for non-residential immovable property for a term not exceeding five years which are specified contracts under the Second Schedule of the Act.

If you would like information or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or any of the following Partners:

Cornelia FONG
Partner – Corporate Real Estate
d +65 6416 8216
Click here to see Cornelia’s CV.

Serene SOH
Partner – Corporate Real Estate
d +65 6416 2426
Click here to see Serene’s CV.

Bonnie WONG
Partner – Corporate Real Estate
d +65 6416 2790
Click here to see Bonnie’s CV.