6. Paragraph 3 of the Second Schedule to the principal Regulations is amended by deleting sub-paragraphs (b) and (c) and substituting the following sub-paragraphs:
“(b)
in the case of a reinsurer incorporated outside of Singapore, any insurance fund established and maintained under the Act by a reinsurer in respect of offshore policies; and
(c)
in the case of a reinsurer incorporated in Singapore, the C2 and C3 requirements —
(i)
of any insurance fund established and maintained under the Act in respect of offshore policies; and
(ii)
arising from the assets and liabilities of any of its branches located outside of Singapore.”.