Exemption of approved MAT insurers from section 3 of Act
3.  Any designated entity carrying on the business of providing MAT insurance, as principal and as an insurer, to persons in Singapore, from outside of Singapore, shall be exempt from complying with section 3 of the Act (read with section 56A of the Act) if, and only if —
(a)the designated entity —
(i)is an approved MAT insurer;
(ii)does not carry on insurance business in Singapore, other than the collection or receipt of premiums in relation to the MAT insurance business; and
(iii)does not have any commercial or physical presence in Singapore for the purpose of carrying on the MAT insurance business; or
(b)the designated entity is providing the MAT insurance business pursuant to an arrangement which was not solicited by it but was initiated by —
(i)an insured or intending insured;
(ii)a registered insurance broker; or
(iii)a person exempt from registration as an insurance broker under section 35ZN(1)(a), (b), (c), (d), (e) or (ea) of the Act who has notified the Authority, in such manner as may be prescribed under section 64 of the Act, of his commencement of insurance broking business.