Deposit Insurance Act 2005(No. 31 of 2005)
Table of Contents
Long Title
Enacting Formula
Part I PRELIMINARY
1 Short title and commencement
2 Interpretation
3 Meaning of "insured deposit base" and "relevant insured deposits"
Part II DEPOSIT INSURANCE SCHEME
4 Establishment of Deposit Insurance Scheme
5 Membership of Scheme
6 Exemption from membership
7 Withdrawal of exemption
8 Maintenance of assets in Singapore
Part III DEPOSIT INSURANCE FUND
9 Establishment of Deposit Insurance Fund
10 Expenditure of moneys of Fund
11 Investment
Part IV deposit insurance AGENCY
12 Designation of company to be deposit insurance agency
13 Objects, functions and powers of Agency
14 Amendment to memorandum and articles of association of Agency
15 Appointment of board of directors
16 Board to be accountable to Minister
17 Salaries, fees and allowances payable to Chairman and directors
18 Appointment of Chief Executive, officers and employees, etc.
19 Rules issued by Agency
20 Power of court to order observance of or compliance with Rules
Part V PREMIUMs
21 Premium contributions payable by Scheme members
22 Determination of premium rates and premium contributions
23 Notice of payment of premium contribution
24 Additional premium contributions where Fund insufficient to pay compensation
25 Payment of premium contributions and late payment fees
26 Power to refund or remit premium contributions
27 Refund of premium contributions paid in excess
28 Re-computation of premium contributions
29 Disclosure of information relating to premium contributions
Part VI COMPENSATION
30 Occurrence of events precipitating payment of compensation
31 Entitlement to compensation
32 Deposits in own right and joint accounts
33 Deposits under trust
34 Deposits in client accounts
35 Restrictions on entitlement to compensation
36 Computation and method of payment of compensation
37 Subrogation
38 Recovery of compensation paid in excess or wrongly paid
Part VII DISCIPLINARY PROCEEDINGS AND REVOCATION OF LICENCES GENERAL REPEAL, SAVINGS AND TRANSITIONAL PROVISIONS