General restriction on insurers
Registration of Singapore insurers
Deposits, registers of policies and insurance funds
Miscellaneous requirements as to conduct of business
Subsidiary
Returns
Inspections and Investigations
Winding up
Transfers of business
Administration and enforcement
Miscellaneous amendments of law
Supplementary
| Holding out as registered insurer |
| 4. Where any company or firm holds itself out to be a registered insurer in respect of life business or general business or both when it is not registered under this Act in respect of that business, the company or firm shall be guilty of an offence and every director, manager or officer of the company and the proprietor or every partner or officer of the firm shall, unless he proves that the holding out by the company or firm was made without his knowledge or consent, be guilty of an offence and shall be liable on conviction to a fine not exceeding $30,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $2,000 for every day during which the offence continues after conviction. [22/73; 11/86] |
| Holding out as registered insurer |
| 4. Where any company or firm holds itself out to be a registered insurer in respect of life business or general business or both when it is not registered under this Act in respect of that business, the company or firm shall be guilty of an offence and every director, manager or officer of the company and the proprietor or every partner or officer of the firm shall, unless he proves that the holding out by the company or firm was made without his knowledge or consent, be guilty of an offence and shall be liable on conviction to a fine not exceeding $75,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $7,500 for every day during which the offence continues after conviction. [22/73; 11/86] |