Insurance (General Provisions) (Amendment) Regulations 2007

Status:

Published in Subsidiary Legislation Supplement
on 31 Dec 2007

No. S 748

Insurance Act

(Chapter 142)

Insurance (General Provisions) (Amendment) Regulations 2007

In exercise of the powers conferred by sections 11, 52(1) and 64(1) of the Insurance Act, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Insurance (General Provisions) (Amendment) Regulations 2007 and shall come into operation on 1st January 2008.

Amendment of regulation 3

2. Regulation 3 of the Insurance (General Provisions) Regulations (Rg 17) is amended —

(a)

by deleting the words “Protection and Indemnity Club” in paragraphs (1), (3), (4) and (7) and substituting in each case the words “marine mutual insurer”;

(b)

by deleting "$50,000" in paragraph (3) and substituting “$15,000”; and

(c)

by deleting the definition of “Protection and Indemnity Club” in paragraph (11) and substituting the following definition:

“ “marine mutual insurer” has the same meaning as in the Insurance (General Provisions and Exemptions for Marine Mutual Insurers) Regulations 2007 (G.N. No. S 746/2007);”.

Made this 27th day of December 2007.

HENG SWEE KEAT

Managing Director,
Monetary Authority of Singapore.

[ID05.1 V32; AG/LEG/SL/142/2002/1 Vol. 10]

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