Insurance Act |
Insurance (Corporate Governance) (Amendment) Regulations 2010 |
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Citation and commencement |
1. These Regulations may be cited as the Insurance (Corporate Governance) (Amendment) Regulations 2010 and shall come into operation on 9th December 2010. |
Amendment of regulation 3 |
2. Regulation 3(1) of the Insurance (Corporate Governance) Regulations 2005 (G.N. No. S 584/2005) (referred to in these Regulations as the principal Regulations) is amended —
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Amendment of regulation 6 |
3. Regulation 6(2) of the principal Regulations is amended by deleting the words “and 16(1)” and substituting the words “, 16(1) and 16A(1)”. |
Amendment of regulation 7 |
4. Regulation 7 of the principal Regulations is amended by deleting the words “or 16(1)” wherever they appear in paragraphs (2) and (3) and substituting in each case the words “, 16(1) or 16A(1)”. |
Amendment of regulation 8 |
Amendment of regulation 10 |
6. Regulation 10 of the principal Regulations is amended —
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Amendment of regulation 11 |
7. Regulation 11 of the principal Regulations is amended —
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Amendment of regulation 12 |
8. Regulation 12 of the principal Regulations is amended —
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Amendment of regulation 13 |
9. Regulation 13 of the principal Regulations is amended —
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Amendment of regulation 14 |
10. Regulation 14(1) of the principal Regulations is amended by inserting, immediately after sub-paragraph (a), the following sub-paragraph:
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Amendment of regulation 15 |
11. Regulation 15 of the principal Regulations is amended —
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Amendment of regulation 16 |
12. Regulation 16 of the principal Regulations is amended —
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New regulation 16A |
13. The principal Regulations are amended by inserting, immediately after regulation 16, the following regulation:
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Amendment of regulation 17 |
14. Regulation 17 of the principal Regulations is amended —
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Amendment of regulation 18 |
15. Regulation 18 of the principal Regulations is amended by deleting paragraph (1) and substituting the following paragraph:
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Amendment of regulation 19 |
16. Regulation 19 of the principal Regulations is amended —
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Deletion of regulation 20 |
17. Regulation 20 of the principal Regulations is deleted. |
Savings and transitional provisions |
18.—(1) Subject to paragraph (2), these Regulations shall not apply to a significant insurer which carried on insurance business in Singapore immediately before 9th December 2010 for the period from that date to the date on which the annual general meeting of the significant insurer is held in 2011.
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Acting Managing Director, Monetary Authority of Singapore. |
[ID 05.1 v.32; AG/LLRD/SL/142/2010/5 Vol. 1] |
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