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Amendments are not highlighted in legislation amended before 2012. We are working on it.
Formal Consolidation |  2002 RevEd
Use of word “insurance”
5.—(1)  No personother than a registered insurer shall, without the written consent of the Authority —
(a)use the word “insurance” or any of its derivatives in any language, or any other word indicating that that person carries on insurance business in the name, description or title under which it carries on business in Singapore; or
(b)make any representation to such effect in any bill head, letter paper, notice, advertisement or in any other manner.
[22/73; 11/86]
(2)  Nothing in this section shall prohibit an association of insurers from using the word “insurance” or any of its derivatives in any language as part of its name or description of its activities.
[22/73]
(3)  Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $12,500 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $1,250 for every day during which the offence continues after conviction.
[22/73; 11/86; 41/2001]
Informal Consolidation | Amended Act 24 of 2003
Use of word “insurance”
5.—(1)  No person, other than a registered insurer, an authorised reinsurer or a foreign insurer carrying on insurance business under a foreign insurer scheme established under section 35B, shall —
(a)use the word “insurance” or any of its derivatives in any language, or any other word indicating that that person carries on insurance business in the name, description or title under which it carries on business in Singapore; or
(b)make any representation to such effect in any bill head, letter paper, notice, advertisement or in any other manner.
[22/73; 11/86]
(1A)  Subject to subsection (1B), no person shall —
(a)use the word “insurance” or any of its derivatives in any language, or any other word, that indicates that the person carries on business as an insurance intermediary in the name, description or title under which it carries on business in Singapore; or
(b)make any representation to such effect in any bill head, letter paper, notice, advertisement or in any other manner.
[23/2003 wef 01/01/2004]
(1B)  Subsection (1A) shall not apply to —
(a)a registered insurance broker;
(b)a person exempt from registration as an insurance broker under section 35ZN(1)(a), (b), (c), (d), (e) or (ea) who has notified the Authority, in such manner as may be prescribed under section 64(1), of his commencement of insurance broking business;
(c)a licensed financial adviser or an exempt financial adviser, which provides any financial advisory service in respect of life policies;
(d)an insurance agent operating under an agreement in writing pursuant to section 35M;
(e)an insurance agent to whom section 35M does not apply;
(f)an agent of a foreign insurer carrying on insurance business under a foreign insurer scheme established under section 35B; or
(g)such other person as may be prescribed.
[23/2003 wef 01/01/2004]
(2)  Nothing in this section shall prohibit an association of insurers from using the word “insurance” or any of its derivatives in any language as part of its name or description of its activities.
[22/73]
(3)  Any person who contravenes subsection (1) or (1A) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $12,500 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $1,250 for every day during which the offence continues after conviction.
[22/73; 11/86; 41/2001]