General restriction on insurers
Registration of Singapore insurers
Deposits, registers of policies and insurance funds
Miscellaneous requirements as to conduct of business
General
Conduct of Insurance Broking Business
Returns
Inspections and Investigations
Winding up
Transfers of business
Administration and enforcement
Miscellaneous amendments of law
Supplementary
| Payment in Singapore currency of policy moneys under life policies |
| 23. In the case of a life policy issued as a Singapore policy after 1st January 1967, to a policy owner who is a citizen of Singapore, any policy moneys or moneys payable on the surrender of the policy shall, notwithstanding anything in the policy or in any agreement relating thereto, be paid in the currency of Singapore unless at the time of payment it is otherwise agreed between the insurer and the person entitled to payment. |
| 23. [Repealed by Act 11 of 2013 wef 18/04/2013] |