Registration of representative office
6A.—(1)  No person shall establish or operate a representative office unless the representative office is registered with the Authority.
(2)  Any person who desires to establish and operate a representative office shall —
(a)apply in writing to the Authority for registration under this section; and
(b)furnish such information or documents as the Authority may require.
(3)  The Authority shall refuse to register a representative office unless —
(a)the applicant is a company, or a company incorporated outside Singapore; and
(b)the applicant satisfies such criteria as may be determined by the Authority.
(4)  The Authority may register a representative office subject to such conditions as it considers necessary, and the registered person shall comply with the conditions of registration imposed by the Authority under this section.
(5)  The Authority may at any time add to, vary or revoke any condition of registration, or impose a condition of registration.
(6)  Every registered person shall furnish such information or documents as the Authority may require from time to time.
(7)  The Authority may cancel the registration of a representative office if the registered person contravenes —
(a)any condition of registration imposed by the Authority; or
(b)any provision of this Act.
(8)  Any person who contravenes subsection (1) or (6), fails to comply with any condition of registration imposed by the Authority under subsection (4) or (5), or operates a representative office which has had its registration cancelled by the Authority under subsection (7), shall be guilty of an offence and shall be liable on conviction —
(a)in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction; or
(b)in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part thereof during which the offence continues after conviction.
(9)  In this section, unless the context otherwise requires —
“registered person” means a person whose representative office is registered with the Authority under this section;
“representative office” means an office in Singapore established —
(a)by a person who —
(i)intends to carry on insurance business in Singapore; and
(ii)is not an authorised reinsurer, and does not carry on any insurance business or any other business in Singapore; and
(b)to carry out liaison work, market research or feasibility studies for the use of that person.
[Act 11 of 2013 wef 18/04/2013]