Sale of Goods Act (SOGA): Primary legislation governing the sale of goods and transfer of title, including warranties and conditions in sale contracts. Essential for defining the transfer of business assets.
Companies Act: Regulates corporate transactions, establishes requirements for corporate authority and capacity, and contains provisions for share transfers in business sales.
Misrepresentation Act and Contract Law: Fundamental legislation governing contract formation, representations, and remedies for misrepresentation in business transactions.
Competition Act: Controls merger activities and prevents anti-competitive practices, requiring compliance checks for business sales above certain thresholds.
Employment Act: Governs the transfer of employees, preservation of employment terms, and Central Provident Fund obligations in business transfers.
Conveyancing and Law of Property Act: Regulates the transfer of real property and leasehold interests if the business sale includes property assets.
Income Tax Act: Addresses tax implications of the business sale, including income tax considerations and relevant exemptions.
Stamp Duties Act: Governs stamp duty obligations and requirements for documenting business transfer transactions.
Goods and Services Tax Act: Determines GST implications and requirements for business asset transfers and ongoing GST registration.
Intellectual Property Laws: Includes Patents Act, Trade Marks Act, and Copyright Act, governing the transfer of intellectual property assets in business sales.
Industry-Specific Regulations: Various regulatory requirements specific to the business sector (e.g., financial services, healthcare) that must be considered in the transfer.
