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Amendments are not highlighted in legislation amended before 2012. We are working on it.
Formal Consolidation |  2004 RevEd
Requirements for Service Company
5.—(1)  Only companies registered under the Companies Act (Cap.50) meeting the following requirements shall act as agents for any member of Lloyd’s under these Regulations:
(a)the company must, unless the Authority otherwise permits, be a subsidiary of a managing agent at Lloyd’s;
(b)the company must have a paid-up capital of not less than $300,000; and
(c)the company must be registered with the administrator under regulation 6.
(2)  In paragraph (1), “subsidiary”, in relation to a company, has the same meaning as in the Companies Act.
Informal Consolidation | Amended S 665/2010
Requirements for Service Company
5.  No person shall act as an agent in Singapore for any member of Lloyd’s under these Regulations unless it is a company registered under the Companies Act (Cap. 50) and meets the following requirements:
(a)the company must be registered with the administrator under regulation 6; and
(b)the company must, unless the Authority otherwise permits, be —
(i)a subsidiary of a managing agent at Lloyd’s; or
(ii)a subsidiary of the holding company of a managing agent at Lloyd’s.
[S 665/2010 wef 04/11/2010]