Section 45 — Notice of negotiation

(1)Where A seeks to negotiate for an adjustment to the rights and obligations of the parties and their assignees under the specified contract pursuant to section 43(1), A must serve a notice of negotiation on all the persons in subsection (2), in accordance with subsection (3).

(2)The persons for the purpose of subsection (1) are all of the following:

(a)any other party to the specified contract;

(b)any person who is A’s guarantor or surety, or who has issued any performance bond or equivalent, in relation to any of A’s obligations under the specified contract;

(c)any assignee of any other party to the specified contract.

(3)A must serve the notice of negotiation on all the persons in subsection (2) —

(a)within 6 weeks, or such longer period as the Minister may determine by order in the Gazette, after —

(i)the date of commencement of section 9 of the COVID‑19 (Temporary Measures) (Amendment No. 3) Act 2020; or

(ii)where A seeks a negotiation under section 43(1) pursuant to a change in the substance of Part 1 or 3 of the Second Schedule, the date of commencement of the amendment effecting the change; and

(b)within the service period for that notice.[Act 37 of 2020 wef 14/01/2021]