Approval of directors and principal officers of insurers
30.—(1)  No registered insurer —
(a)shall appoint a person as principal officer of the insurer in Singapore; or
(b)incorporated or established in Singapore shall appoint a person as director of the insurer,
unless the insurer satisfies the Authority that that person is a fit and proper person to be so appointed and has obtained the approval of the Authority.
(2)  A direct insurer registered to carry on life business shall appoint a person as actuary of the insurer to perform such duties as may be prescribed.
[32/93]
(3)  The appointment of the actuary by a direct insurer under subsection (2) shall be made by the board of directors of the insurer in writing and shall be subject to the approval of the Authority.
[32/93]
(4)  Any person aggrieved by any decision of the Authority under subsection (1) or (3) may appeal to the High Court.
[32/93]
(5)  In this section —
“director” has the same meaning as in the Companies Act [Cap. 50];
“principal officer”, in relation to a registered insurer, means any person by whatever name called employed by the insurer to be directly responsible for the conduct of any class of insurance business of the insurer in Singapore.
[11/86]