Provisions as to returns submitted
6.—(1)  Any document to be lodged with the Authority under regulation 4 shall comply with the following requirements:
(a)the particulars required to be in the abstract of an actuary’s report and the statement as to policies and premiums shall be so arranged that the numbers and letters of the items correspond with those in Parts I and III of the Fifth Schedule;
[S 467/2002 wef 01/10/2002]
(b)the document shall be made out separately or in separate parts for business in Singapore and for business outside Singapore, and also for each part of the business outside Singapore for which a different basis of valuation is adopted;
(c)a valuation of liabilities in respect of life policies shall, for purposes of the document or any separate part of it, be made on a basis not less stringent than the minimum basis; and if the document or part relates to business in a country outside Singapore, the basis shall not be less stringent than is required by the law of that country for any corresponding valuation of liabilities of that business; and
(d)where the business to which the document or a separate part of it relates includes policies other than life policies, the liabilities in respect of those policies shall be valued on a basis approved by the Authority, and there shall be made such additions to or adaptations of the document or part as are necessary to show particulars of those policies and the results of the valuation.
(2)  In relation to any document required to be lodged under these Regulations, all amounts shall be stated in Singapore dollars unless otherwise specified in the appropriate form, and the basis of conversion of any other currency into Singapore dollars shall be stated in each document.
(3)  Documents lodged by a captive insurer to comply with sections 36 and 37 of the Act shall be excepted from section 39(3) of the Act.
[S 467/2002 wef 01/10/2002]
[S 31/2004 wef 21/01/2004]
(4)  The actuary’s report lodged under regulation 4(3) shall be excepted from section 39(1) and (3) of the Act.
[S 467/2002 wef 01/10/2002]
[S 31/2004 wef 21/01/2004]